e-Bank Ltd banking licence approved

The Bank of Namibia announced that e-Bank Limited was provided authorization under section 11 of the Banking Institutions Act, 1998 (Act No. 2 of 1998 as amended). The provisional license is valid for a period of six months as from 1 August 2013 to allow e-Bank to set up their operations.
Bank of Namibia said in a statement the public is notified that during this provisional license period, e-Bank Limited may not in any way engage in any formal or informal banking business with any customers, especially soliciting of public deposits, until a certificate of authorization to commence banking business is issued by the central bank.
The Bank of Namibia wished e-Bank Limited success on their future endeavours within the Namibian banking sector as a new entrant.