Also known as: FIMA · Financial Institutions and Markets Act (2021)
News reports
Order a long-term news report on Financial Institutions and Markets Act
Every mention in the Namibian press over the period you choose, compiled as a PDF or Word document.
Verbatim sentences from the source article.
Windhoek Observer
… The Financial Institutions and Markets Act (FIMA) was introduced to modernise Namibia’s financial regulatory framework and, among other objectives, strengthen the protection of retirement savings. …
Pension reforms should not put home ownership further out of reachWindhoek Observer
Renthia Kaimbi The Financial Institutions and Markets Act (FIMA), designed to protect retirement savings, may be unintentionally shutting out thousands of ordinary Namibians from accessing affordable housing finance through their pension funds. …
Pension funds face housing loan freeze under FIMA …RFS halts processing of unsecured housing loans …GIPF says members’ pension itself serves as security …uncertainty looms over NAMFISA exemptionWindhoek Observer
Renthia Kaimbi The Financial Institutions and Markets Act (FIMA) now prohibits employers from deducting financial losses due to employee theft, fraud, dishonesty, or misconduct directly from pension benefits. …
FIMA blocks employers from recovering theft losses from employees’ pensionsWindhoek Observer
The coming into force of Namibia’s Financial Institutions and Markets Act (FIMA) has ushered in one of the most significant reforms to the country’s financial sector in decades. …
Pension protection versus accountability: FIMA’s unintended consequencesThe Namibian
The implementation of the Financial Institutions and Markets Act (Fima) on 1 May marked a significant step in modernising the regulation of Namibia’s non-banking financial sector. …
Fima ushers in new era for financial sector – ShafudahThe Namibian
… The regulator further highlighted that the Financial Institutions and Markets Act (Fima) significantly strengthens consumer protection within Namibia’s non-bank financial sector by giving Namfisa broader powers to supervise institutions, investigate misconduct, impose sanctions a …
Consumer credit bill nears final stageThe Namibian
… Similarly, the Financial Institutions and Markets Act (2021), particularly chapter 5 dealing with retirement funds, imposes clear duties on boards to act honestly and with due care, skill and diligence in managing fund affairs, thereby reinforcing the same underlying obligation, …
When ‘Best Interest of Members’ Becomes a Convenient PhraseThe Namibian
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
Staff Reporter 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 holdWindhoek Observer
Patience Makwele The Namibia Health Plan (NHP) says it remains committed to complying with the Financial Institutions and Markets Act (Fima) while stabilising operations following challenges linked to its transition to a new managed care service provider. …
NHP says Fima compliance remains priorityThe Financial Institutions and Markets Act (FIMA), which came into force on 1 May 2026, replaced the Pension Funds Act of 1956 and includes provisions in Section 276 governing the payment of pension death benefits to members' families or other beneficiaries.
14 hours ago · Windhoek Observer →
The Financial Institutions and Markets Act (FIMA), which came into force on 1 May 2026, replaced the Pension Funds Act of 1956 and includes provisions in Section 276 governing the payment of pension death benefits to members' families or other beneficiaries.
14 hours ago · Windhoek Observer →
Despite employers investing in physical wellness and other employee benefits, pension funds—a significant long-term financial benefit—often receive little attention or engagement, remaining primarily an administrative function rather than a prioritized component of employee financial well-being.
18 October 2026 · The Namibian →
The Namibia Financial Institutions Supervisory Authority (NAMFISA) has invited financial institutions, intermediaries, industry associations and self-regulatory organisations to submit comments on newly gazetted subordinate legislation under the Financial Institutions and Markets Act (FIMA). Affected stakeholders have 30 calendar days from 15 September to make written representations, with a deadline of 22 October 2026.
23 September 2026 · Windhoek Observer →
Namibia Health Plan held a members information session to explain the Financial Institutions and Markets Act (FIMA) and reassured members that their medical aid benefits and contributions will remain unchanged, though the fund will undergo operational and governance changes including shifts in claims assessing responsibility.
22 September 2026 · Windhoek Observer →
The Namibia Securities Exchange has been approved by members to demutualise, converting from a private association of rights holders to a public company with share capital. This change separates ownership from membership, ending the current requirement that ownership stakes be tied to trading rights on the exchange.
8 September 2026 · The Namibian →
Members of the Namibia Securities Exchange have approved resolutions to convert the exchange into a publicly traded company with share capital, a process first endorsed in 2015 and now a statutory requirement under the Financial Institutions and Markets Act of 2021. The demutualisation will separate ownership from membership and change the NSX from a non-proprietary voluntary association into a modern regulated securities exchange.
7 September 2026 · Windhoek Observer →
Namibia has begun implementing the Financial Institutions and Markets Act (FIMA), a consolidated regulatory framework designed to strengthen consumer protection, enhance financial stability, and modernize oversight of the non-banking financial sector by replacing several separate laws.
23 July 2026 · Windhoek Observer →
Since the Financial Institutions and Markets Act took effect in May 2026, concerns have arisen that Section 282(2) may unintentionally prevent thousands of pensioners from accessing affordable housing finance from their retirement funds. Industry experts worry the rule requiring a first mortgage bond for direct housing loans is hampering the consumer protection the Act was meant to provide.
17 July 2026 · New Era →
Pension fund industry experts warn that Section 282(2) of Namibia's Financial Institutions and Markets Act, which took effect in May 2026, may prevent thousands of pensioners from accessing affordable housing finance from their retirement funds. A pension funds expert emphasised the concern applies specifically to direct housing loans granted by retirement funds themselves, distinct from the Government Institutions Pension Fund housing initiative.
17 July 2026 · New Era →
The Namibia Financial Institutions Supervisory Authority has given administrators of pension funds, medical aid funds, and friendly societies 12 months to formally register under the Financial Institutions and Markets Act, which comes into force on 1 May 2026. Those who fail to comply could face regulatory action.
14 July 2026 · Windhoek Observer →
The implementation of Section 282 of the Financial Institutions and Markets Act, designed to strengthen retirement savings protection, is inadvertently creating barriers to housing loans from pension funds by imposing strict first mortgage bond requirements and causing delays for members seeking to finance home construction or purchase.
13 July 2026 · Windhoek Observer →
The Financial Institutions and Markets Act's first mortgage bond requirement for pension fund housing loans, effective May 2026, may block thousands of Namibians from accessing housing finance through their pensions. GIPF says its schemes remain operational, but a pension industry professional warns Section 282(2) could render loans inaccessible to members who previously qualified under the repealed 1956 Act, unless NAMFISA grants exemptions.
13 July 2026 · Windhoek Observer →
The Financial Institutions and Markets Act now prohibits employers from deducting financial losses due to employee theft, fraud, or misconduct from pension benefits, a practice previously permitted under the repealed Pension Funds Act. Pension professionals describe this as a legislative shift to strengthen protection of retirement savings.
17 June 2026 · Windhoek Observer →
Namibia's new Financial Institutions and Markets Act (FIMA) has eliminated employers' ability to recover losses from employee theft, fraud or dishonesty from workers' pension benefits—a change from the previous Pension Funds Act that strengthens pension protection but removes a mechanism to balance employer harm and retirement security.
17 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 →
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 →
An opinion piece examines how the phrase "in the best interest of members" has become a standard justification in pension fund governance but is rarely rigorously examined, risking use as a convenient conclusion rather than a guiding principle rooted in fiduciary duty and legal obligation.
17 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 Namibia Health Plan says it remains committed to complying with the Financial Institutions and Markets Act while stabilising operations following challenges linked to its transition to a new managed care service provider that began on 1 April 2026. The transition has caused disruptions to claims processing and administrative delays affecting some healthcare providers and employer groups.
12 May 2026 · Windhoek Observer →
Namfisa CEO Kenneth Matomola announced that the Financial Institutions and Markets Act (FIMA) and the Namfisa Act came into operation on 1 May 2026 to modernise regulation of the non-banking financial sector. Matomola stated that existing pension commutation rules remain unchanged and that pension preservation regulations are on hold pending further review.
6 May 2026 · New Era →
Namibia's Financial Institutions and Markets Act (FIMA) and NAMFISA Act became operational on 1 May 2026, consolidating previously fragmented laws into a single regulatory framework governing non-banking financial institutions, insurance, retirement funds, medical aid funds, and financial markets. NAMFISA said the implementation marks a transition from legislation to active enforcement, with focus on strengthening consumer protection and financial stability.
5 May 2026 · Informanté →
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 →
The Namibia Financial Institutions Supervisory Authority has confirmed that lump sum cash entitlements on retirement will remain unchanged when the Financial Institutions and Markets Act is implemented, addressing concerns raised by the retirement fund industry.
27 March 2026 · The Namibian →
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 →
Namibian pension funds are seeking clarity on how the Financial Institutions and Markets Act (Fima) will affect retirement payouts, with a leaked memo suggesting the act could prohibit members from taking their full savings as a single cash payment and instead require monthly annuity payments. Industry players and Namfisa are meeting to discuss the interpretation of the new law and its potential consequences for retirees.
23 March 2026 · The Namibian →