Also known as: finance minister Ericah Shafudah · Erica Shafudah · minister of finance Ericah Shafudah · Ericah Shafuda
Namibian Finance Minister who oversaw implementation of the Financial Institutions and Markets Act in May 2026.
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Windhoek Observer
Finance minister Ericah Shafudah read the President's address on her behalf
“In an address read on her behalf by finance minister Ericah Shafudah, the President congratulated the company's board, management, staff and stakeholders on reaching the milestone, describing the anniversary as a testament to resilience, innovation, discipline and trust.”
NNN calls for broader financial inclusionThe Namibian
Finance minister Ericah Shafudah said Fima Act ushers in new era of financial regulation, consumer protection and inclusive economic development
“Finance minister Ericah Shafudah said this in parliament on Tuesday, arguing that the Fima Act 2 of 2021 ushers in a new era of financial regulation, consumer protection and inclusive economic development.”
Fima ushers in new era for financial sector – ShafudahThe Namibian
Finance minister Ericah Shafudah tabled the N$104 billion 2026/27 national budget in February
“The N$104 billion budget, tabled by finance minister Ericah Shafudah in February under the theme 'People, Productivity and Prudence', provides N$81.3 billion for operational expenditure, N$6.5 billion for development projects and N$16.2 billion for interest payments.”
Budget law signed,IPC demands deliveryThe Namibian
Finance minister Ericah Shafudah said new Financial Institutions and Markets Act will benefit citizens, businesses and investors
“Finance minister Ericah Shafudah says the new Financial Institutions and Markets Act (Fima) will benefit citizens, businesses and investors – while allowing the government to strengthen oversight and improve economic planning.”
Shafudah says new Fima necessaryInformanté
Minister Ericah Shafudah launched the Financial Institutions and Markets Act (FIMA)
“THE Namibian Minister of Finance and Public Enterprises, Ericah Shafudah, has launched the Financial Institutions and Markets Act (FIMA), defining a reforming moment in the regulations that shape Namibia's financial sector.”
Finance minister launches Financial Institutions and Markets Act (FIMA), says mandatory freezing of pension funds put on holdInformanté
The minister assured that mandatory freezing of 75% of pension funds upon resignation has been put on hold
“During the launch, the minister, however, assured that the mandatory freezing or preservation of 75% of pension funds upon resignation has been put on hold, as government has heard the nation's concerns on it.”
Finance minister launches Financial Institutions and Markets Act (FIMA), says mandatory freezing of pension funds put on holdThe Namibian
Finance minister Ericah Shafudah stated that SSC did not sufficiently justify why entire procurement law should be set aside
“"The SSC has not sufficiently demonstrated why the application of the entire act would be impractical or inappropriate in relation to the procurement, implementation and operationalisation of the funds," finance minister Ericah Shafudah says in the ministry's response to the request.”
SSC’s N$43.8m tender exemption hits a wallWindhoek Observer
Finance minister Ericah Shafudah said the new legislation strengthens oversight and improves outcomes for members
“Finance minister Ericah Shafudah said the new legislation strengthens oversight and improves outcomes for members.”
Pension funds, employers to pay interest on late benefit paymentsWindhoek Observer
Finance minister Ericah Shafudah announced the commencement of Fima in a government gazette issued on 30 April
“Finance minister Ericah Shafudah announced the commencement in a government gazette issued on 30 April.”
Fima rollout beginsInformanté
Finance Minister Ericah Shafudah raised concerns in the National Assembly criticising prolonged deliberations with little outcome
“FINANCE Minister Ericah Shafudah raised concerns in the National Assembly yesterday, criticising prolonged deliberations with little outcome before Speaker Saara Kuugongelwa-Amadhila enforced adjournment at the scheduled time.”
Minister Shafudah questions impact of lengthy deliberationsPresident Netumbo Nandi-Ndaitwah called for greater financial inclusion, improved financial literacy and broader access to investment opportunities as key to developing Namibia's financial sector, remarks made during Namibia Asset Management's 30th-anniversary celebration.
5 June 2026 · Windhoek Observer →
President Netumbo Nandi-Ndaitwah called for greater financial inclusion, improved financial literacy and broader access to investment opportunities as key to developing Namibia's financial sector, remarks made during Namibia Asset Management's 30th-anniversary celebration.
5 June 2026 · Windhoek Observer →
Finance minister Ericah Shafudah said the implementation of the Financial Institutions and Markets Act on 1 May marked a significant step in modernising the regulation of Namibia's non-banking financial sector. The act, passed in 2021 alongside the Namfisa Act, establishes a modern regulatory framework designed to strengthen oversight of financial institutions, improve market confidence and support sustainable growth, with over 150 regulations and standards developed through stakeholder consultations between 2021 and 2025.
3 June 2026 · The Namibian →
The 2026/27 national budget has been signed into law by President Netumbo Nandi-Ndaitwah and gazetted, allowing government ministries and agencies to access approved funding. The N$104 billion budget provides N$81.3 billion for operational expenditure, N$6.5 billion for development projects and N$16.2 billion for interest payments, with a projected N$15 billion financing gap to be covered through borrowing.
1 June 2026 · The Namibian →
Namibia's proposed consumer credit bill, which aims to overhaul the consumer credit industry and protect borrowers, has completed public consultation and is now undergoing final review by Namfisa before resubmission to the finance minister. The legislation introduces stricter affordability assessments, improved disclosure requirements, stronger consumer protections, and tighter regulation of credit providers, while repealing three existing laws.
1 June 2026 · The Namibian →
Prime Minister Elijah Ngurare met with the finance minister and Namibia Revenue Agency commissioner to discuss solutions for small import entrepreneurs, known as 'Order With Me' operators, who face complaints over high and unpredictable customs duties, VAT, and courier clearance charges that are making their businesses unsustainable.
21 May 2026 · The Namibian →
Finance Minister Ericah Shafudah says the Financial Institutions and Markets Act (Fima), which came into force on 1 May, will benefit citizens, businesses and investors while strengthening government oversight and modernizing the legal framework for financial institutions. Shafudah stated the act aims to ensure financial stability, financial inclusion and consumer protection.
13 May 2026 · The Namibian →
The Namibian Minister of Finance and Public Enterprises, Ericah Shafudah, launched the Financial Institutions and Markets Act (FIMA) on 1 May 2026, consolidating regulations for Namibia's non-bank financial sector. The minister announced that the mandatory freezing or preservation of 75% of pension funds upon resignation has been put on hold following public concerns.
13 May 2026 · Informanté →
The Ministry of Finance has rejected the Social Security Commission's request for a procurement exemption to fast-track a N$43.8-million fund management system project. Finance minister Ericah Shafudah said the SSC did not sufficiently justify why the entire Public Procurement Act should be set aside, and noted that the law already provides procurement options such as restricted bidding for specialized services.
6 May 2026 · The Namibian →
Pension and retirement funds must now pay interest to members if benefits are not transferred within 60 days of request, under regulations from the Financial Institutions and Markets Act 2021 that came into effect on 1 May. Employers must also pay retirement contributions on time or face interest charges, with both employers and their directors liable for unpaid contributions.
6 May 2026 · Windhoek Observer →
The Financial Institutions and Markets Act (Fima) came into operation on 1 May 2026, as announced by Finance Minister Ericah Shafudah in a government gazette issued on 30 April. Some provisions of the act have been excluded from the commencement.
5 May 2026 · Windhoek Observer →
Finance Minister Ericah Shafudah criticised prolonged parliamentary deliberations that yield little substantive progress, saying nearly two hours were spent on procedural matters without reaching decisions. Speaker Saara Kuugongelwa-Amadhila acknowledged the concern but held that adjournment rules must be enforced.
29 April 2026 · Informanté →
Minister Veikko Nekundi presented the 2026/2027 budget allocation of N$592.972 million for the Department of Works to the National Assembly, with N$499 million for operational costs and N$93.972 million for capital investment. The budget addresses public infrastructure development, government asset management, and maintenance of state facilities across five programmes.
15 April 2026 · The Namibian →
The Institute for Public Policy Research has criticized the government's decision to bypass the Central Procurement Board on N$350 million in projects, arguing it creates risks of corruption and waste. The government has directly awarded contracts including a N$140-million sports stadium project to the Roads Contractor Company and other projects to August 26 without public tendering, a practice that lacks transparency and limits competition for local businesses.
12 April 2026 · The Namibian →
In Gibeon, a remote village 100km south of Mariental, elderly residents like Welhimina Boois depend entirely on the government old-age pension grant (currently N$1 700 per month) to survive, often supporting extended family members as well. Over 250 000 elderly Namibians rely on this social grant as their primary income source, though many face severe hardship including food insecurity and inadequate housing.
10 April 2026 · New Era →
Finance minister Ericah Shafudah has made new appointments and reappointed Peter Kruger as chairperson of the Namibia Revenue Agency board, with changes taking effect on 1 April and running for three years. The moves, made under the Public Enterprises Governance Act, include appointing Ndatega Shikalepo as deputy chairperson, along with Helmuth Naweseb, Mubusisi Mabuku, and Ndahambela Ndoroma-Iipinge to strengthen governance and oversight at Namra.
3 April 2026 · The Namibian →
The Roads Authority has implemented adjustments to road user charges effective from 1 May, raising vehicle licence fees by 10%, while abnormal load fees and road carrier permits will each rise by 20%. The adjustment was approved by the minister of finance.
1 April 2026 · The Namibian →
Finance Minister Ericah Shafudah launched the National Payment System Vision and Strategy 2030, developed by the Bank of Namibia to modernise payment systems and make money transfers faster, safer and more affordable. The strategy aims to enable banks, mobile wallets and financial services to interoperate seamlessly, expanding digital financial inclusion for small businesses and underserved communities by 2030.
30 March 2026 · New Era →
Parliament members say the National Assembly's budget allocation of N$410.7 million for 2026/27 is inadequate, with only 1% allocated to development and 19% to core NA activities. MPs warn the underfunding threatens the institution's capacity for lawmaking and public outreach.
28 March 2026 · The Namibian →
Finance Minister Ericah Shafudah unveiled the National Payment System Vision and Strategy 2030, developed by the Bank of Namibia and Payment Association of Namibia, to modernise Namibia's payment systems and make transactions faster, safer and more affordable. The strategy aims to enable seamless transactions across banks, mobile wallets and other financial services, improving financial inclusion for small businesses and underserved communities.
27 March 2026 · New Era →
Finance Minister Ericah Shafudah defended the N$104 billion 2026/27 budget, stating it balances fiscal consolidation with economic support without introducing broad-based tax increases. She addressed parliamentary concerns about taxation, public debt levels, and sectoral allocations, emphasizing that development spending extends beyond the official figures and that agricultural financing should be viewed holistically including through Agribank.
26 March 2026 · New Era →
The Development Bank of Namibia has launched DBN For Her, a women-focused financing initiative backed by N$400 million from the African Development Bank, offering loans ranging from N$150,000 to N$10 million to women-owned businesses employing between five and 300 people.
26 March 2026 · The Namibian →
At least 91 parliamentarians have submitted asset and interest declarations as required under parliamentary standing rules, with MPs disclosing shareholdings in telecommunications, banking, and brewing companies, as well as residential and commercial properties across Namibia. Failure to comply with annual declaration requirements constitutes a breach of parliamentary rules and may result in referral to the Committee of Privileges for disciplinary measures including fines or formal reprimands.
25 March 2026 · New Era →
The Namibia Financial Institutions Supervisory Authority (Namfisa) has advised the finance minister to exempt a clause in the Financial Institutions and Markets Act (Fima) that would have forced all retirement fund members to annuitise their benefits. Workers will continue to receive one-third of their retirement benefits tax-free as a lump sum, though the government's long-term policy aims to move Namibia toward full annuities in line with International Labour Organisation standards.
25 March 2026 · The Namibian →
Namibia's 2026/27 budget reflects finance minister Ericah Shafudah's fiscal caution as the country awaits a final investment decision on TotalEnergies' Venus oil project, expected mid-2026. Economist Robin Sherbourne described the budget as a "holding operation" in a constrained economic outlook, though he warned that reduced development spending may limit growth despite the budget's focus on "People, Productivity and Prudence."
23 March 2026 · The Namibian →
Finance minister Erica Shafudah announced that 30 youth-owned businesses in Omusati have been approved for funding under the National Youth Development Fund, with N$257 million allocated to the fund to support young entrepreneurs nationwide. Shafudah also outlined government initiatives to strengthen food security through irrigation projects, livestock facilities, and vocational training in the region.
23 March 2026 · The Namibian →
Minister Ericah Shafudah's 2026/27 budget prioritises fiscal consolidation to narrow the deficit from 6.6% to 5.5% of GDP, which has implications for pensioners through inflation control (projected at 3.5%), interest rates set at 6.5%, and improved payment systems for benefits. The budget contains no explicit changes to pension taxation or retirement fund reforms, suggesting policy continuity but leaving structural issues like coverage and adequacy for future intervention.
20 March 2026 · The Namibian →
Opposition MPs and activists have criticised the government's 2026/27 budget allocation, accusing it of breaking campaign promises by increasing social grants by only N$100 rather than the promised larger amounts. They argue the government has adequate resources to fund higher increases to pensioner and vulnerable children's grants to better protect citizens from inflation.
19 March 2026 · The Namibian →
CAM chief economist Floris Bergh warns that Namibia's fiscal trajectory has deteriorated and creditworthiness is unlikely to improve, with funding pressure expected to remain high as state-owned enterprises seek capital market borrowing. The 2026 deficit is forecast at 5.8% of GDP (N$16.6 billion), well above the healthy 3% threshold, with interest costs consuming 18% of government revenue.
19 March 2026 · New Era →
An opinion piece argues that the 2026/27 national budget, though not explicitly addressing pensioners, indirectly supports their interests through fiscal consolidation, controlled inflation (projected at 3.5%), lower interest rates, and improved payment systems. The author notes the budget contains no direct pension reforms, suggesting policy continuity rather than structural changes to address coverage and adequacy issues.
19 March 2026 · New Era →
Landless People's Movement leader Bernardus Swartbooi has called on the government to consider exporting labour to address Namibia's 36.9% unemployment rate, citing examples from Kenya, Uganda and Ghana that place workers in Gulf Cooperation Council states. He criticised the government's emphasis on education without corresponding job creation and argued that investment in productive sectors like agriculture and energy should be prioritised over social spending.
16 March 2026 · New Era →