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Avo SuperShop: a leader in bridging the gap between businesses and customers 

By Victor Ashikoto /

With the introduction of the Avo SuperShop product, Nedbank Namibia is making significant strides in its digitalisation efforts.

This offering empowers our clients to easily buy essential products and services online, aligning seamlessly with our strategic vision to establish ourselves as a prominent player in Namibia’s fintech, e-commerce, and digitalisation sectors.

The banking sector plays an important role in Namibia’s digitalisation journey, with fintech’s emergence accelerating the transformation of, and ushering in, accessible financial services.

Our digitalisation plans align with those of the Bank of Namibia, which positions digital transformation as a top strategic priority for modernising the financial sector and enhancing financial inclusion.

We further rank among Africa’s leading digital financial service providers, boasting a selection of digital products, services, and client value propositions.

The bank’s African digital strategy, underpinned by the Managed Evolution technology programme, focuses on delivering innovative solutions for clients such as the PayToday platform and aims to lead the market.

The launch of the Avo SuperShop last year was a milestone in Namibia’s progress and technological evolution, with Avo positioned to support everyone’s digital journey. Namibians can now conveniently purchase airtime and data and settle utility bills through Avo.

Avo’s integration aligns with our overarching strategy to build a modern, modular, and agile technological framework that caters to its valued clients. These efforts have resulted in a remarkable 64% of our Namibian client base using digital channels.

The introduction of digital solutions like Avo shows our commitment to transitioning clients away from traditional brick-and-mortar banking, ushering in a new era of seamless and efficient banking experiences.

The Avo SuperShop serves as a digital marketplace where customers can access essential goods, fashion items, and appliances. It prioritises security of transactions and offers rewards through AvoPoints for Nedbank Namibian clients.

Avo provides consumers with significant advantages, including reduced distribution costs for small and medium enterprises (SMEs) through online sales, increased sales volume, and digital marketing strategies.

Avo also offers a wide range of products, including furniture, large appliances, beauty and personal care, fashion, home appliances, Apple products, home and garden items, power solutions, tech products, fashion, pantry and household goods, DIY supplies, bags, deals, beauty products, travel essentials, and sports equipment.

The Avo SuperShop app is available on the Google Play Store for Android and the Apple App Store.

A key mission of Avo is to empower SMEs by facilitating a seamless digital transition. This opens up opportunities to over 100 000 clients to actively engage in online product purchases, reducing their reliance on traditional sales approaches.

Namibian merchants already available on the Avo SuperShop include: Nictus, MegaTech, Nanodog, Pandora, Zera Leather, Inside Africa, Apple, Leer Meester, Maillot Jaune, Chai Namibia, Lovelle’s Baby Boutique, Makalani Homeware, Double Barrel Arms, JCSports, Canocopy, DF Creations and Cira Tech.

The ongoing digitalisation of Namibia’s financial sector, driven by the Fourth Industrial Revolution, has transformed banking, making it more efficient and direct in-service delivery.

Our digitalisation strategy aims to foster a competitive financial environment, giving consumers access to innovative products while continuing to protect consumers and safeguard the stability of the financial system.

In its 2022 annual report, the Bank of Namibia stated that the value of EFT transactions processed by Namclear increased in that year to N$349,7 billion. This represents a 12% increase in value and a 9% increase in volume over the 2021 figures. This increase in EFT usage was attributed to increased economic activity after the Covid-19 lockdown restrictions had ended in 2021.

The growing presence of fintechs in Namibia, coupled with the widespread adoption of mobile phones, suggests continued digitalisation. The use of electronic money (e-money) schemes, which are currently close-loop and are operating within only the same banking institution’s systems, continued to increase in 2022. The bank observed an increase in the use of e-money as a payment instrument.

In 2022 the value and volume of e-money transactions increased to N$34 billion and N$64 million, respectively. This increase was attributed to changing consumer behaviour due to the ease of use and access to wallets in particular.

The Nedbank Money App (Africa) has garnered high ratings on the App Store and Play Store; total digital transaction volumes saw a 30% increase in 2022, with app users growing by over 37%, and app transaction volumes rising by 35%.

We continually refine our wallet products. Additionally, we have introduced a lead generation tool and offer insurance products on the Money App (Africa) as part of 30 initiatives targeting revenue uplift and cost reduction in our drive for digital automation.

We have benefited from closer collaboration with our parent, Nedbank Group, in advancing the automation of processes and digitalising the business. With the launch of Avo, we envision the Avo SuperShop as a catalyst for digital financial innovation, bridging the gap between consumers and businesses while ensuring secure transactions.

We continue to accelerate the digitisation of our business and will bring more projects to fruition this year to improve efficiencies and revenue.

– Victor Ashikoto is Nedbank Namibia’s Chief Operating Officer.