NAMFISA's Purpose, Achievements & Future Outlook
NAMFISA’s core aim, as captured in its mission statement, is to effectively regulate and supervise non-banking financial institutions in Namibia. Its vision is to be a respected, world-class regulator that promotes a stable and secure financial system contributing to national economic growth.
Key Responsibilities NAMFISA is tasked with:
- Supervising and regulating the financial services industry
- Advising the Minister of Finance on related matters
- Promoting consumer protection
- Driving financial literacy through its Consumer Education Strategy
Key Responsibilities NAMFISA is tasked with:
- Supervising and regulating the financial services industry
- Advising the Minister of Finance on related matters
- Promoting consumer protection
- Driving financial literacy through its Consumer Education Strategy
Achievements Over the Past 15 Years
Once viewed as underperforming, NAMFISA has undergone a remarkable transformation since 2013, guided by a strategic reform process. Key highlights include:
- Organisational Excellence
- Regulatory & Supervisory Milestones
- Publications & Public Engagement
- Organisational Excellence
- Regulatory & Supervisory Milestones
- Publications & Public Engagement
Challenges Faced
Despite the success, NAMFISA operates in a dynamic and complex environment, facing:
Looking Ahead
NAMFISA is committed to contributing to the Financial Sector Strategy (FSS) and driving transformation through upcoming legislation, including the NAMFISA, FIM, FSA, and Micro Lending Bills.
The goals include:
