Namibia’s AI credit model showcased on global stage

Letshego CEO Melvin Angula unveils Taamba Maris at the AFI Global Policy Forum, showing how tech and regulation can work together to expand safe access to credit.
  • 2 Days Ago - 2025-09-04 12:32:00
Letshego Microfinancial Services Namibia (LMFSN) chief executive Melvin Angula has urged global regulators to embrace technology-driven solutions that expand financial inclusion while safeguarding consumers.
Speaking at the Alliance for Financial Inclusion (AFI) Global Policy Forum 2025, Angula presented Taamba Maris, Namibia’s first instant mobile credit product, developed in partnership with MTC Maris. He said the service is transforming access to finance while giving regulators real-time oversight.
“We built Taamba Maris not just for speed, but for trust,” Angula said. “By embedding safeguards like one-loan-at-a-time, transparent pricing and automated compliance, we have shown that innovation and regulation can successfully coexist.”
The product uses mobile wallet data and artificial intelligence to approve loans in under a minute. It incorporates strict protections, including loan caps, cooling-off periods and upfront fee disclosure, positioning itself as a safe alternative to exploitative loan practices.
Hundreds of thousands of Namibians are now eligible to access credit through the service, many for the first time. Automated reporting tools also provide the Bank of Namibia and NAMFISA with live monitoring, setting a benchmark for supervisory technology in the region.
Angula tied Namibia’s progress to Letshego Africa Holdings Limited’s wider strategy, highlighting innovation hubs in Nairobi, Accra and Gaborone that aim to replicate Namibia’s model across the continent. He cautioned, however, that “AI readiness is not the same as business readiness,” stressing that strong regulations and partnerships are key to success.
In closing, Angula called on regulators to introduce sandboxes for innovation, invest in supervisory technology, strengthen public-private partnerships and equip supervisors to manage emerging risks.
“Technology-enabled supervision doesn’t just reduce risk; it creates trust, transparency and financial opportunity,” he said.