Nampost Gets Concessional Loan of N$235 Million to Microfinance Pensioner Services

Source: Namibia Economist

Public financial institution, the French Development Agency disbursed a concessional loan of N$235 million loan to finance the growth of NamPost’s microfinance business, specifically targeting NamPost’s microfinance activities aimed at pensioners. The loan which is on-lending to PostFin, also supports PostFin’s strategy of targeting more vulnerable and underbanked segments of the Namibian population and reach a market share within pensioners of about 20 to 30 percent over the next five years.

At a press event this week, French Ambassador to Namibia Claire Bodonyi, said the loan will promote financial inclusion in Namibia by reaching out to thousands of pensioners who are considered as not bankable for credit reasons, by banks and microfinance institutions.