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Monday, 8 June 2026
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Monday, 8 June 2026
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Namibian press · Event

Financial Institutions and Markets Act

Also known as: FIMA · Financial Institutions and Markets Act (2021)

2026-03-232026-06-08
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In coverage

Verbatim sentences from the source article.

  1. March 2026

  2. The Namibian

    Pension funds will still allow a tax-free lump-sum payout on a portion of retirement benefits under the proposed regulations of the Financial Institutions and Markets Act (Fima). …

    Workers still entitled to pension lump sum

  3. The Namibian

    Pension funds are seeking clarity on whether the Financial Institutions and Markets Act (Fima) could limit retirement payout options, including access to lump-sum benefits. …

    Namibian pension funds seek clarity as Fima may limit lump-sum retirement payouts
Business

Namibia implements Financial Institutions and Markets Act

The News

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.

Why it matters

Implementation of Financial Institutions and Markets Act modernises Namibia's non-banking financial sector regulation and strengthens market oversight.

3 June 2026 · The Namibian →

Wednesday 3 June

  1. Namibia implements Financial Institutions and Markets Act

    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 →

Monday 1 June

  1. Consumer credit bill undergoes final review before parliamentary submission

    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 →

Sunday 17 May

  1. Pension funds must define 'best interest of members' carefully

    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 →

Wednesday 13 May

  1. Finance minister defends new Financial Institutions Act

    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 →

  2. Finance minister launches FIMA, postpones mandatory pension fund freezing

    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 →

Tuesday 12 May

  1. NHP commits to Fima compliance amid managed care transition

    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 →

Wednesday 6 May

  1. FIMA and Namfisa Act operational from May 2026

    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 →

Tuesday 5 May

  1. Financial Institutions and Markets Act comes into force

    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 →

  2. Financial Institutions and Markets Act begins operation May 1

    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 →

Friday 27 March

  1. Namfisa confirms lump sum retirement payments unchanged

    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 →

Wednesday 25 March

  1. Namfisa exempts lump-sum pension payouts from new regulations

    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 →

Monday 23 March

  1. Fima may limit pension fund lump-sum retirement payment options

    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 →

Financial Institutions and Markets Act — Namibian press coverage · Namibia Minute