Over a longer period from 1996 to 2021, the average GDP contribution of the financial sector was 4.2%, ranking it fourth among tertiary industries. The central bank defines the financial sector broadly, including commercial banks, non-bank financial institutions, financial markets and payment systems. This is higher than the sub-Saharan Africa average of 54%, showing that Namibia’s financial sector is strong and active. As the Bank of Namibia puts it: “A well-developed and deepened financial sector is critical to the effective operation of the Namibian economy.” However, the health and stability of the financial sector will be meaningless if its overall impact on poverty, inequality and unemployment remains inadequate.