Ruacana’s growth dictates own banking service

At the beginning of this month, the small town of Ruacana on the banks of the Kunene river, came one step closer to the mainsteam economy when Standard Bank opened a service centre in Ruacana, managed from its branch in Outapi.
Standard Bank’s Ruacana Service Centre is located in Oshifo. The bank said this week it forms part of its continuous drive to take banking services closer to the people.
“The Standard Bank Ruacana Service Centre which falls under the jurisdiction of Outapi Branch has been serving the Oshifo community and surrounding areas in the town with all its banking needs since 01 July 2016” the bank said in a statement.
“We identified Ruacana as an economic and business hub in this particular constituency and it is all about taking banking services to the broader community with ease and convenience,” said Ismael Hakaaje, Regional Manager of the North-west region at Standard Bank.
Ruacana shows a growing population according to the latest census. Many residents at Ruacana and its immediate surroundings work at institutions like NamPower, schools and other government institutions, and lodges next to or close to the waterfall and the Kunene River. The Etunda Irrigation Scheme is the largest employer with 210 permanent employees and 80 seasonal employees.
“Considering the economic activity, there was an obvious need for banking services in Ruacana,” according to Hakaaje. The Ruacana Service Centre offers personal and business banking with complementary insurance and investment offerings. It has five staff members able to assist customers from Mondays to Saturday during bank business hours.