MTC Namibia launched its mobile financial service, MTC Maris, as the Namibian government hailed the operator for “stepping ahead” of its rivals, while urging them to follow suit in order to connect the fifth of the population that remains unbanked.
MTC Maris is a fully owned subsidiary of MTC Namibia, with its own board of directors, and will be regulated by Namibia’s financial regulator, NAMFISA, rather than the telecoms watchdog CRAN.
The service is now available and enables users of 2G/3G phones to send money electronically, withdraw physical cash, as well as make deposits. Purchases can also be made directly from the app for satellite television and utilities such as electricity and water.
MTC Maris also announced retail partners for its mobile money platform, including supermarket chain Woermann Brock and its parent company, MTC. Other retailers expected to join include betting brand PstBet, wholesaler supermarket Metro, and microlender Letshego.
Speaking at the launch event, the Minister of Finance and Public Enterprises, Iipumbu Shiimi, noted that 78% of Namibians in 2022 had accessed financial services, an improvement from 51% in 2012.
Telecom operators can bridge the “last mile” by connecting the remaining fifth of the population living in rural areas, said the minister.
“Telcos are no longer in the background; telecommunications companies are now at the forefront. We can only cover the last mile of that 21% if the telcos are leading, because they have the platform, and that platform is the fact that everyone carries a phone,” said Minister Shiimi.
“I would like to congratulate MTC for stepping up and stepping ahead of all the other telcos. The competition is becoming tough, so we are calling upon Telecom Namibia to follow the same direction, because we will only win this fight if all the telecommunications companies are not just providing the backbone for financial services.”
