Also known as: Namfisa
NAMFISA — regulatory authority supervising Namibia's financial institutions, pension funds, and non-banking sector under the Financial Institutions and Markets Act.
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The Namibian
Namibia Financial Institutions Supervisory Authority says industry assets remained sufficient to cover liabilities and reserves stayed above 25% minimum
“The regulator says the industry's assets remained sufficient to fully cover liabilities during the period, while reserve levels increased and stayed above the minimum prudential requirement of 25%.”
Medical aids post N$129.5m surplus in Q3 2025The Namibian
Namibia Financial Institutions Supervisory Authority (Namfisa) warns that smaller policies may become unviable under debit orders
“The Namibia Financial Institutions Supervisory Authority (Namfisa) warns that smaller policies may become unviable under debit orders, potentially reversing recent GWP growth and increasing lapse rates.”
Court Ruling Buys Insurers Time to AdaptThe Namibian
Namibia Financial Institutions Supervisory Authority said unsecured lending growth is a financial stability concern requiring prudent credit policies review
“"It becomes a financial stability concern when unsecured lending grows significantly, because it also speaks to a need for a review of the credit policies of the Domestic Systemically Important Banks to become more prudent," said the regulators.”
Household debt-servicing costs skyrocketNamibia 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.
8 hours ago · 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.
8 hours ago · 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 Employment Equity Commission found seven employers non-compliant with affirmative action provisions after they failed to groom qualified Namibians for senior positions and neglected to obtain required exemptions or approvals from the labour minister. The companies also failed to consult employees during the preparation and implementation of their affirmative action plans.
14 July 2026 · The Namibian →
The Namibia Financial Institutions Supervisory Authority is investigating Wealth Management Solutions, owned by Hanjo Schlabitz, over losses of at least N$250 million belonging to clients, mostly pensioners and families. The liquidator estimates total losses may reach N$350 million, with 87 people and two organisations claiming as creditors, after Schlabitz allegedly used money market funds to cover failed foreign exchange investments.
14 July 2026 · The Namibian →
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 →
Wealth Management Solutions, a Windhoek financial advisory firm, has lost at least N$250 million belonging to pensioners and families through risky foreign investments; the owner allegedly paid out clients from other people's accounts to hide losses, and a liquidator estimates total losses could reach N$350 million.
12 July 2026 · The Namibian →
Namibia's only active friendly society grew total assets to N$3.2 million in the first quarter of 2026, a 9.3% increase year-on-year, and remained financially sound despite higher liabilities, according to Namfisa's quarterly report.
8 July 2026 · The Namibian →
Assets managed by Namibia's investment firms reached N$342.6 billion in the first quarter of 2026, up 1.3% from the previous quarter and 18.2% year-on-year, with pension funds accounting for 42.5% of total assets under management at N$145.5 billion.
6 July 2026 · The Namibian →
Namibia's retirement fund industry grew during the first quarter of 2026, with total assets reaching N$301.9 billion, up 0.1% quarterly and 14.9% year-on-year, according to Namfisa's quarterly report. The Government Institutions Pension Fund continued to dominate, controlling 69.4% of total assets.
4 July 2026 · The Namibian →
Namibians are taking fewer loans from microlenders, but the average loan size is increasing. According to Namfisa's latest quarterly report, the average term loan rose to N$25,620 and payday loans to N$4,030 in the first quarter of 2026, though the overall microlending loan book declined 3% to N$7.3 billion.
2 July 2026 · The Namibian →
Capricorn Unit Trust Management Company holds the largest share of Namibia's collective investment schemes market with 35.5% of total assets, as of Q1 2026. The country's unit trusts hold N$126.5 billion in total assets, with the top three managers controlling 57.9% of assets under management.
2 July 2026 · The Namibian →
Namibia's non-banking financial institutions registered 98 consumer complaints in the first quarter of 2026, with 91.8% successfully resolved, resulting in N$1.7 million in total compensation to consumers. The sector comprises 1,220 active entities, though 58.7% are fully compliant while 5.1% are non-compliant, with most non-compliance concentrated in microlending.
1 July 2026 · Windhoek Observer →
The Financial Institutions and Markets Act, 2021 has transformed the role of the Principal Officer in Namibia's retirement funds from an administrative contact to a central governance, compliance, and leadership position, now required to be an ex officio member of the fund's board and typically the chief executive officer or equivalent.
1 July 2026 · Windhoek Observer →
Namibia's financial regulators apply a uniform 30-33% debt-to-income ceiling to both housing and vehicle loans, treating appreciating property the same as depreciating cars. The article argues this blanket rule locks creditworthy Namibians out of homeownership despite the Bank of Namibia's recent move to allow 100% financing for first- and second-home purchases.
26 June 2026 · The Namibian →
The Micro Lenders Association has rejected claims that it is responsible for trapping Namibians in debt, attributing high debt levels instead to weak savings practices, economic pressures, multiple credit sources, income constraints, and regulatory gaps. The association made its position known in a 15-page letter to parliament's standing committee on economics, which is examining whether the country's laws adequately protect civil servants against microlenders.
23 June 2026 · The Namibian →
Parliament's Standing Committee on Economy and Industry held a public hearing to investigate whether existing laws adequately protect borrowers from exploitation by lending institutions and informal money lenders. Committee leaders said household debt is a serious concern among civil servants, some of whom take home very low net pay due to multiple loan deductions from their salaries.
22 June 2026 · Windhoek Observer →
The Namibian argues that commercial banks and financial regulators apply a uniform 30–33% debt-to-income affordability cap across all asset classes, treating appreciating homes and depreciating vehicles as equivalent credit risks and thereby blocking creditworthy Namibians from homeownership while enabling unsustainable car purchases.
21 June 2026 · The Namibian →
A cancer patient's relatives allegedly took out multiple funeral policies on her life without her knowledge while neglecting her care and treatment costs; her sister was denied her own policy coverage, and the deceased's two children may not inherit from policies taken out in their mother's name.
20 June 2026 · Namibian Sun →
Namibia had 224,078 people registered with medical aid in 2025, representing 7.41% of the total population. Dependants made up the majority of members at 50.25%, while pensioners comprised only 6.75% due to higher premiums and preference for government healthcare.
14 June 2026 · The Namibian →
Members of parliament have called for stricter controls on microlenders' direct access to civil servants' salaries, arguing that such deductions worsen financial strain on public servants. The parliamentary economics committee heard concerns about excessive deductions and their effects on disposable income and mental health, with plans to meet with the Microlenders Association next week.
13 June 2026 · The Namibian →
Ninety One Namibia and Sanlam Allianz Namibia plan to combine their active asset management businesses, operating under the Ninety One Namibia brand with a 15-year term, though the deal awaits shareholder and regulatory approvals including from the Namibia Competition Commission.
11 June 2026 · The Namibian →
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 →
The Supreme Court has ordered Namfisa to pay N$35.1 million to the liquidator of insolvent company Prowealth Asset Management, to be distributed to investors who lost money entrusted to the company about two decades ago. The order follows a November finding that Namfisa was liable for losses suffered by approximately 87 investors due to insufficient regulatory oversight from August 2005 until the company collapsed in December 2008.
28 May 2026 · The Namibian →
The Supreme Court has ordered the Namibia Financial Institutions Supervisory Authority (Namfisa) to pay N$35 million to the liquidator of Prowealth Asset Management, which collapsed after its director stole about N$75 million from more than 70 investors. The ruling follows a November 2025 finding that Namfisa could be held liable for breaching its duty of care in failing to properly supervise the fraudulent asset manager.
27 May 2026 · Informanté →
The Namibia Financial Institutions Supervisory Authority has appointed Josef Kasera as manager for business systems and services. With over a decade of ICT and digital innovation experience, Kasera holds qualifications in information technology management and computer science, and will work on strengthening enterprise systems and digital transformation in support of the authority's regulatory mandate.
24 May 2026 · The Namibian →
Namibia maintains second place in Southern Africa's startup ecosystem rankings after South Africa, ranking 94th globally and 10th in Africa according to the 2026 StartupBlink Global Startup Ecosystem Index, though it dropped nine places globally from 2025 despite recording 8.2% ecosystem growth.
21 May 2026 · Windhoek Observer →