The Government Institutions Pension Fund (GIPF) has made progress in preparation for the implementation of the Financial Institutions and Markets Act (FIMA).

The Act is designed to reform and consolidate the regulatory framework for non-banking financial institutions and markets in the country.

The Chief Executive Officer of the Namibia Financial Institutions Supervisory Authority (Namfisa), Kenneth Matomola, has raised concerns regarding the current regulatory framework, saying it hampers Namfisa’s ability to fulfil its mandate.