insert_link 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 9
insert_link 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 9
insert_link Namibia Namibia Financial Institutions Supervisory Authority to Break Ground on New Offices The Namibia Financial Institutions Supervisory Authority is preparing to break ground on its new office building in the city. Joanette Eises: NAMFISAs Corporate Communications Practitioner. todayJuly 24, 2024 25
insert_link 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 22
insert_link 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 44
insert_link Business / Economics Verime and ReferredBy lead Namfisa’s financial Sandbox initiative The Namibia Financial Institutions Supervisory Authority has signed testing agreements with Verime and Referred By, making them the first participants in its Regulatory Sandbox programme for the non-bank financial institution sector. NAMFISA's Regulatory Sandbox is a pioneering initiative demonstrating its commitment to fostering a vibrant, secure, and inclusive financial landscape that empowers both consumers and innovators. NAMFISA spokesperson Victoria Muranda. The programme serves as a controlled environment for live tests […] todayApril 18, 2024 22
insert_link Namibia Namibia Approves Central Securities Depository for Market Efficiency The Namibia Financial Institutions Supervisory Authority has greenlit Central Securities Depository Limited to operate as a central securities depository. Jointly owned by the Bank of Namibia and the Namibia Stock Exchange, CSD will centrally manage securities like shares and bonds electronically, aiming to boost trading efficiency, market participation, and liquidity. NAMFISA spokesperson Victoria Muranda shared the update. todayMarch 22, 2024 48
insert_link Namibia NAMFISA Warns Medical Aid Schemes Against Unauthorized Contribution Increases The Namibia Financial Institutions Supervisory Authority cautions medical aid schemes against exceeding approved contribution percentages. NAMFISA's release emphasizes the violation of Section 31 of the medical aid fund, stipulating that any changes to registered medical aid funds' rules require approval from the Medical Aid Funds Registrar. This warning follows NAMFISA's imposition of a temporary cap on certain medical funds' annual contribution increases, restricting them to single-digit percentages. todayFebruary 12, 2024 1
insert_link Business / Economics The Alexforbes Lead Story – 23 January The Alexforbes Lead Story is back for 2024 and still tackling the topics that matter to you. In this episode David speaks to President of the Anaesthesiologists Society of Namibia, Dr. Jesse Mumba, and specialist anaesthetist, Dr Meandra Jordaan about the fact that NAMAF decided on a zero rate increase for 2024 and how this will impact not only them as specialists who only do in-hospital procedures, but also the […] todayJanuary 24, 2024 68
