FNB Namibia Launches WeSave Account to Strengthen Group Savings and Financial Inclusion
By TUW
FNB Namibia has expanded its retail banking offering with the introduction of the WeSave account, a new savings product aimed at supporting group-based saving and strengthening financial inclusion across the country.
The product was officially unveiled on Tuesday during a launch event attended by bank executives and stakeholders, where FNB outlined its intention to respond to the evolving financial needs of communities that save collectively, such as families, cooperatives, stokvels, and informal savings groups. The account allow up to 90 members.
Addressing the gathering, FNB Namibia’s Head of Investment, Ziggy Muinjo, explained that the WeSave account was developed after the bank identified a clear gap in the market for a secure and structured group savings solution. He said many Namibians participate in collective saving arrangements that often rely on informal systems, which can expose members to financial risk. According to Muinjo, the new account offers a safer and more transparent alternative, while also bringing more people into the formal banking system.
Muinjo added that the WeSave account aligns with FNB’s broader strategy of promoting responsible saving habits and widening access to financial services, particularly for customers who may not traditionally engage with conventional banking products.
FNB Namibia’s Head of Retail and Chief Executive Officer, Mbo Luvindao, also spoke at the launch, highlighting the practical benefits of the WeSave account. He said the product is designed to encourage a culture of collective saving by making it easier for groups to manage their funds, track contributions, and work towards shared financial goals in a secure environment.
Luvindao emphasized that group savings play a significant role in many communities, whether for education, emergencies, small business ventures, or social obligations. He noted that by formalizing these savings through a dedicated banking product, FNB hopes to empower groups with better financial control and long-term planning capabilities.
The WeSave account forms part of FNB Namibia’s ongoing efforts to innovate within the retail banking space, while supporting inclusive growth and financial resilience among its customers.
