The Bank of Namibia granted provisional authorisation to four new entities seeking to provide payment services and virtual asset services in Namibia under the Payment System Management Act, 2023 and the Virtual Assets Act, 2023. The authorisation process is structured in two steps, with a provisional licence issued subject to pre-authorisation conditions that must be met before a full operational licence is granted. Provisional authorisation to offer payment services was granted to Finatic Technologies (Pty) Ltd. and United PayPoint (Pty) Ltd., while provisional authorisation to operate as a Virtual Asset Service Provider was granted to Mindex Virtual Asset Exchange (Pty) Ltd. and Landifa Bitcoin Trade CC. The provisional authorisation is valid for six months; during this period the entities must satisfy all pre-authorisation conditions and are not permitted to conduct any business or engage with individuals or entities in Namibia. If the conditions are met within the six-month period or earlier, the Bank may issue a full licence allowing the entity to commence official operations.

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