Consumer education remains a priority

Consumer education remains a priority area to
NAMFISA hence the function falling under the office
of the Chief Executive Officer (CEO). Consumer
education contributes towards the improving of the
consumer’s knowledge and understanding of financial
products and services in Namibia.
This publication is part of efforts by the Authority to ensure
consumer awareness, protection and satisfaction. The Authority
will continue its efforts to increase awareness of the regulatory
environment and the protection mechanisms available to
consumers of financial services in Namibia.
Stakeholder engagement is another key initiative at the
Authority. It is important to engage various stakeholders to
generate positive stakeholder perception about NAMFISA
we do that through timely consultation and dissemination of
information through mediums such as this publication and
industry meetings.
In this edition, we tell of a story that encourages consumers to
know their rights and responsibilities and to contact NAMFISA
if they are not happy about the way they are treated by a
financial services provider. It is very important to mention that
NAMFISA’s complaints handling process is free of charge.
Consumers of financial services can lodge complaints with
NAMFISA and they will be assisted at no cost.
Other article topics to look out for in this edition include the
effects of non-disclosure of pre-existing medical conditions
and the medical aid waiting period. Know your roles
and responsibility as a consumer when you visit micro
lenders by reading the article on micro lenders and
cash loans. Understanding the impact of money
laundering, terrorism and proliferation is another
illustrative story in this edition of the bulletin for
you to read. The importance of managing your
credit profile is another educative story that gives
you tips for maintaining a healthy credit profile.
You, too, can contribute to this publication
by asking us to write about a particular topic
of interest to you in the areas of supervision,
regulation, and monitoring and enforcement
compliance with the Financial Intelligence Act,
Pleasant reading and share the information
you gained in this edition with at least one
person. After all, information is power!
I wish you a happy reading.