The Namibia Financial Institutions Supervisory Authority (NAMFISA) has made revenue amounting to N$279,5 million with expenditure of N$254,7 million during the 2023/2024 posting profit of N$24 million. 

The Chief Executive Officer of the NAMFISA, Kenneth Matomola, described the authority's financial status as stable.

Matomola says the authority has seen a levy income amounting to N$255,5 million, representing an increase of N$26,6 million, an 11 percent increase compared to the previous financial year.

Matomola says this indicates that the non-nanking financial institutions remained financially stable, sound, and resilient.

"The non-banking institutions have remained financially sound and stable and do not pose a risk to the financial system so far that we are glad to say that we have done our part. You can see that my colleagues are hard at work to reach a 100% target. Make sure we receive those eleven initiatives that we have set for ourselves. That is a commendable job that my colleagues have done."

Matomola further highlighted that their achievement of the strategic performance measure of 63 percent for the five-year plan strategy, 2023/2024, with a 37 percent target has not yet been met.

He says to achieve such significant figures, employees play a significant role in achieving such numbers. 

The authority is further on track in technology and innovation capabilities, improved data management, and improved knowledge and skills, just to mention but a few.