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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

Namfisa

21 Results / Page 1 of 3

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Business / Economics

Financial Institutions Supervisory Authority Designates October As Consumer Protection Month

The Namibia Financial Institutions Supervisory Authority has designated October as Consumer Protection Month to educate consumers about their financial rights and obligations. This initiative aims to raise awareness of the importance of protecting consumer rights, safeguarding against market misconduct, and ensuring consumers understand their responsibilities when interacting with financial institutions. NAMFISA spokesperson, Victoria Muranda.  

todayOctober 3, 2024 30

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Namibia

Consumer Complaints in Namibia: Long-Term Insurance Industry Tops the List

The Namibia Financial Institutions Supervisory Authority has recognized the long-term insurance sector as the leading source of consumer complaints in 2023, receiving 247 grievances reports The Brief. Following closely were microlenders with 165 complaints, while the short-term insurance industry and pension funds ranked third with 122 complaints. Although some sectors saw a decrease in complaints compared to 2022, these four industries collectively represented 94% of all reported issues.

todaySeptember 30, 2024 9

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Namibia

NAMFISA Reports Decrease in Unclaimed Pension Funds as Benefits Continue to Rise

The Namibia Financial Institutions Supervisory Authority reported a decrease in unclaimed pension fund benefits to N$218.7 million by the end of 2023, down from N$229.1 million the previous year. This improvement is attributed to better tracing and payment of beneficiaries. Total benefits paid increased by 6.6% to N$12.3 billion, with retirement benefits continuing to grow faster than contributions. Contributions rose by only 0.9% to N$10.0 billion, which fell below the […]

todaySeptember 27, 2024 13

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Business / Economics

Consumer Credit Bill to be tabled by Parliament next year, says NAMFISA’s annual report

The Namibia Financial Institutions Supervisory Authority has released its annual report which outlines the implementation of key financial regulations and the resolution of 91% of 691 complaints, resulting in N$14.7 million returned to complainants. Namfisa CEO, Kenneth Matomola said most complaints were from micro-lenders, insurers, and pension funds.     He also revealed that the Consumer Credit Bill will be tabled by Parliament next year.

todaySeptember 26, 2024 33

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Namibia

NAMFISA Reports N$1.24 Billion in Medical Aid Claims for Q1 2024

NAMFISA reveals that medical aid funds disbursed N$1.24 billion in claims during the first quarter of 2024, reflecting a 12% increase from the previous quarter but a 2.5% decrease year-on-year. Non-healthcare expenses decreased by 2.8% from the previous quarter but rose 3.7% annually, with administration costs remaining the highest contributor. The industry’s total assets grew by 4.1% quarter-on-quarter and 8.6% year-on-year to N$2.2 billion, while liabilities fell by 4.1% from […]

todayAugust 30, 2024 14

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Business / Economics

Namibia Sees 22.6% Surge in New Insurance Policies in Q1 2024 Despite Year-on-Year Decline

Namibia recorded a 22.6% increase in new insurance policies in Q1 2024, reaching 102,597 policies, according to NAMFISA. However, this marks a 45.3% year-on-year decline. The total number of active policies grew by 3.2% quarter-on-quarter to nearly 1.94 million, driven by reduced policy terminations and lapses. The demand for credit risk policies contributed to the quarterly rise, while a decrease in individual investments led to the annual decline. Policy lapses […]

todayAugust 30, 2024 12

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Local

NAMFISA to host third edition of the Fintech Square in Windhoek

  The Namibia Financial Institutions Supervisory Authority (NAMFISA) is proud to host the third edition of the FinTech Square event scheduled for 30 and 31 May 2024 under the theme FinTech  Unleashed: Showcasing Innovation at the Square.  FinTech Square, known as the NAMFISA Innovation Station, is a platform designed to explore the world of Financial Technology (FinTech) within the Namibian Non-Banking Financial Institutions (NBFI) sector. It connects NAMFISA with innovators, consumers, industry […]

todayMay 29, 2024 32

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Namibia

Namibia Financial Institutions Supervisory Authority to Host FinTech Square Event in May 2024

The Namibia Financial Institutions Supervisory Authority is organizing FinTech Square, an event aimed at exploring the intersection of finance and technology. Scheduled for May. The event will showcase various innovations in financial technology, highlighting their potential to transform traditional financial practices. NAMFISA spokesperson Victoria Muranda emphasizes the importance of this convergence in revolutionizing financial processes for both institutions and consumers.  

todayApril 26, 2024 60

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