FinTech Key to Tackling Youth Unemployment and Driving Inclusive Growth: Humavindu


Windhoek: Financial technology (FinTech) holds the potential to transform Namibia’s economy by creating jobs, empowering young people, and promoting inclusive growth, Executive Director in the Ministry of Finance, Michael Humavindu has said. Delivering the keynote address at the FinTech Futures 2025 event hosted by the Bank of Namibia’s Innovation Hub on Monday, Humavindu said FinTech can help address youth unemployment by expanding access to finance, fostering entrepreneurship, and creating new digital opportunities.



According to Namibia Press Agency, Humavindu said Namibia stands at a defining crossroads, with over 70 percent of its population under the age of 35. He described the country’s youth as its greatest asset, noting that many remain excluded from meaningful economic participation. ‘With youth unemployment estimated at around 40 percent, every young person who is empowered represents a potential innovator, taxpayer, and contributor to Namibia’s shared prosperity,’ he said.



He added that technology and innovation are transforming the global economy, and Namibia must seize these opportunities to position itself as a creator, rather than a consumer, in the digital economy. Citing international examples, Humavindu said Nigeria’s Flutterwave and India’s digital payment systems have shown how FinTech can democratise access to finance, attract investment, and formalise informal sectors. He noted that such innovations can strengthen domestic resource mobilisation and boost entrepreneurship across industries such as agriculture, tourism, manufacturing, and the creative sector.



Meanwhile, the FinTech Futures platform provides an opportunity to align policy, innovation, and partnerships between government, regulators, academia, and young entrepreneurs. ‘Through coordinated action and shared vision, we can transform isolated ideas into national strategies that strengthen both our financial system and human capital,’ he noted.



Humavindu said digital finance is reshaping how people save, borrow, trade, and invest, and that Namibia’s choices today will determine its competitiveness and inclusivity in the global digital economy. ‘FinTech is more than just technology, it is a tool for inclusion, productivity, and sustainable growth.’