The Namibia Financial Institutions Supervisory Authority (NAMFISA) recovered over N$2.7 million for consumers in the non-banking financial sector during the third quarter of 2024, resolving complaints swiftly and effectively.

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 Financial Instituations and Market Act (FIMA) has the potential to create and govern retirement and medical aid funds and their administrators, short- and long-term insurers, investment schemes, and asset management, amongst others.

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.

The Bank of Namibia (BoN) and Namibia Financial Institutions Supervisory Authority (NAMFISA)'s Financial Stability Report (FSR) for 2023 indicates that the Namibian financial system remained sound and resilient in 2022.

The Namibia Financial Institutions Supervisory Authority (NAMFISA) has called on Namibian innovators to register for the FinTech Square second edition.

The Affirmative Repositioning (AR) Movement's frontman and social activist, Dr. Job Amupanda, has accused the Benchmark Retirement Fund of being in cahoots with NAMFISA to change the provisions of the Pension Fund.

The Namibia Financial Institutions Supervisory Authority (Namfisa) has received public and industry input on supplementary legislation to the Financial Institutions and Markets Act (FIMA) and feedback on this will be communicated during the last quarter of this year.

The Non-banking financial sector assets have grown by 14% despite an economic downturn, which translates to N$370 billion as of December 2021.