Standard Bank Namibia expands footprint to Okakarara

Staff reporter - With an investment of N$4.5 million, Standard Bank Namibia inaugurated a new branch at Okakarara in the Otjozondjupa Region this month.

This latest addition comes after the bank also recently opened new branches at Karibib and Okongo in the Erongo and Ohangwena regions respectively.

At the official opening the regional chairperson for Otjozondjupa, Julius Neumbo, encouraged the residents to make optimal use of the new branch in order to grow themselves financially. This will ultimately stimulate viable business initiatives that will develop the town to greater heights and the region as a whole.

“I know I am speaking to the converted when I say that keeping money under pillows or mattresses is not only unsafe, it is old fashioned and antiquated, and can only be compared with an unwise and archaic decision in the days gone by,” said Neumbo.

With a current population of approximately 7 000 residents, Okakarara has seen considerable growth in terms of infrastructural development over the years. It has the biggest veterinary clinic in the region, a medical centre, an SME Park and a business centre.

In view of these developments, Standard Bank Namibia saw the importance of offering customers innovative banking services and products to further boost economic activities, said Saara Shivute, the bank’s head of branch distribution.

“In essence, opening a new branch has positive spin-offs for the community in that it ultimately generates employment, brings a variety of banking service efficiency and various business and personal banking options for customers, as well as reduces the unnecessary travelling costs,”said Shivute.

Standard Bank opened its first branch in the country at Lüderitz in 1915. Since then it has grown from a mere few staff members to over 1 700 employees. It currently has 58 branches and a wide network of 266 ATMs countrywide.

The bank also plans to open its 59th branch at Aussenkehr next week.