An analysis of the effects of COVID-19 on the banking sector in Windhoek, Namibia
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Date
2023
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
University of Namibia
Abstract
The COVID-19 pandemic significantly affected the global economy, causing major
disruptions as different countries entered lockdowns to slow the spread of the virus.
These disruptions led to various macroeconomic effects, which in turn directly impacted
banking institutions around the globe. The purpose of this research was to analyse the
effects of the Coronavirus (COVID-19) on the banking sector in Windhoek, Namibia.
To achieve the objectives of this study, a qualitative research approach was utilised
whereby, an exploratory research design was adopted. The researcher used interviews
and documents review as instruments to gather data and employed conceptual and
relational content analysis to analyse the data and used ATLAS.ti 22 to aid the data
analysis process. The results have shown that the pandemic came with a combination of
negative and positive effects in general. The negative effects have represented
challenges faced by the banking sector, whereas the positive effects represent
opportunities that open to the banking sector further confirming the claims from
different authors who conducted studies in the USA or European countries for instance.
The study has been however contradictory with claims from other authors, in terms of
cyber-security, as it was not found as a challenge in Namibia. The researcher as
recommended that commercial banks, maintain different measures adopted during the
pandemic such as the combination of working from the office and working from home,
invest more in digital platforms, and further improve their digital platforms where they
were certainly limited and make it even more efficient. For policy makers, mainly the
Bank of Namibia, the researcher did not have a particular recommendation to give has
the bank was very effective in taking significant measures and did everything on time to
avoid difficulties.
Description
A thesis submitted in partial fulfilment of the requirements for the degree of master in business administration- Finance
Keywords
Banking sector, COVID-19 pandemic, Finance, Namibia