The Namibia Financial Institutions Supervisory Authority (NAMFISA) has resolved 268 complaints of the 691.

This is contained in the 2023/2024 annual report.

With different markets emerging every day and microlenders on the rise, NAMFISA was able to resolve over 620 cases.

This represents a decrease in the resolution rate, compared with 95% in 2022.

The Chief Executive Officer of NAMFSA, Kenneth Matomola, said following interventions, an amount of N$14.7 million has been paid to 172 complainants.

NAMFISA, Matomola stated that the work done by the authority shows they assist both the lenders and borrowers, creating an inclusive environment for parties to resolve their differences.