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

Namibia Financial Institutions Supervisory Authority

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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 35

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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 14

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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 20

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Business / Economics

Namfisa CEO advises public to learn and understand FIMA for better dialogue

CEO of the Namibia Financial Institutions Supervisory Authority, Kenneth Matomola has urged the public to familiarise themselves with the Financial Institutions and Market Act to enable informed discussions with his office regarding sections they may not fully understand. FIMA brings together different laws to create a framework for overseeing and regulating financial intermediaries, pension funds, insurers, and other non-banking financial institutions.  

todaySeptember 2, 2024 52

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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 64

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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 83

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