In a move to enhance the efficiency of the country’s financial and payment systems, the Bank of Uganda recently conducted a benchmarking visit to the Bank of Namibia from the 10th to the 14th of February 2025. During their visit, the delegation had a benchmarking meeting with Namclear to gain insights into the country’s domestic clearing systems and operations.
The meeting was attended by Namclear’s management team, including Mr. Fabian Tait, Managing Director; Mr. Dennis Carew, Manager: Card Operations at NamSwitch; Ms. Hybré Clarke, Manager: EFT Operations at NamPay; and Mr. Dunston Kawana, Manager: of ICT.
Mrs. Prisca Ampumuza Rwamahe, Director of Strategy and Innovation and head of the Ugandan delegation, explained that they are planning to establish a clearing house in Uganda, and their visit to Namclear was aimed at gaining insights into Namibia’s experience with developing and operating such a Payment system. She emphasised that Uganda’s Central Bank is eager to learn from Namclear’s best practices, understand the challenges faced, and explore the solutions implemented to ensure the efficient operation of the clearing house.
Namclear plays a crucial role in the payment systems, facilitating the exchange of financial instruments between commercial banks, making it a model for many other African countries seeking to modernise their payment infrastructure.
“The financial sector is constantly evolving, and at Namclear, we take pride in staying ahead of technological advancements,” said Namclear’s Managing Director, Mr. Fabian Tait, during the meeting. He also assured the delegation that Namclear is ready to offer their support and guidance.