11
Oct
Martin Endjala The Bank of Namibia (BoN) will now handle the licensing and regulation of payment service providers instead of sharing the responsibility with the Payments Association of Namibia (PAN). The move is in line with the recently promulgated Payment System Management Act 14 of 2023 (the PSM Act). The Deputy Governor of BoN Leonie Dunn, said the rationale for having a single regulator is to provide regulatory certainty, reduce the administrative load on payment service providers by eliminating the need to interact with two regulators, and bring the domestic national payment system in line with international best practices. She…