The Namibia Financial Institutions Supervisory Authority (NAMFISA) has marked Consumer Protection Month under the theme "Know Your Rights, Secure Your Future."

The initiative aims to equip consumers with practical financial knowledge, promote financial stability, encourage informed decision-making and strengthen consumer protection.

Speaking on Good Morning Namibia, NAMFISA Consumer Education Specialist Junias Erasmus said the initiative provides an opportunity to take financial education directly to communities and remind consumers that being informed is key to protecting their finances.

"We want consumers to understand their rights and responsibilities, so know what to look out for before signing contractual agreements, understand the risks associated with financial products and services, and know where to seek assistance when they experience a number of challenges. So throughout October, NAMFISA will now engage consumers through community outreach, educational sessions, workplace forums, institutional visits, and other awareness activities."

NAMFISA is urging consumers to verify information before signing contractual agreements, understand the risks associated with financial products and services, and seek assistance when facing challenges.

"So our message is very simple. To say do not sign what you do not understand and do not invest in anything that you do not understand and do not give your personal information or financial information to anyone that you do not verify."

Erasmus further highlighted that rapid technological advancements are creating new opportunities while introducing challenges that affect how consumers manage their finances and conduct everyday transactions.