From the Office of the CEO
I would like to take this opportunity to express my sincere appreciation to all consumers of financial services and products, and to the nation at large, for taking the time to read and share insights from the NAMFISA Consumer Education Bulletin. Your continued engagement is a clear indication that the Bulletin is achieving its goal of educating and empowering consumers. We are especially encouraged by the thoughtful comments, feedback, and suggestions we receive from you — they help shape the content to address the real issues that matter most to consumers.
In late 2024, NAMFISA launched a dedicated campaign aimed at informing and educating consumers about malpractices within the insurance sector. The goal of this initiative was to ensure that all regulated entities uphold the principle of treating customers fairly, and that financial products sold to consumers are relevant, transparent, and genuinely beneficial.
To that end, NAMFISA has heightened its focus on the fair treatment of consumers. We have a dedicated Consumer Complaints Department, and I am pleased to report that we’ve made commendable progress. The growing number of consumer complaints and queries reflects a rising awareness among Namibians about their rights, responsibilities, and the importance of choosing financial products that suit their unique needs.
We encourage consumers not to lose hope or remain silent when facing unethical or questionable practices. NAMFISA is here to protect and support you. If you encounter challenges or unfair treatment from any financial institution, we urge you to reach out to us.
At NAMFISA, we remain committed to creating a regulatory environment that promotes safety, stability, and fairness in the financial sector. Ultimately, our vision is one of economic development, consumer protection, financial inclusion, well-functioning financial markets, and shared prosperity for all Namibians.
Thank you for reading, and for continuing to engage with us. Your input is always welcome, and I encourage you to continue sharing your feedback and suggestions with us.
Yours sincerely,
Phillip N. Shiimi
Chief Executive Officer NAMFISA
In late 2024, NAMFISA launched a dedicated campaign aimed at informing and educating consumers about malpractices within the insurance sector. The goal of this initiative was to ensure that all regulated entities uphold the principle of treating customers fairly, and that financial products sold to consumers are relevant, transparent, and genuinely beneficial.
To that end, NAMFISA has heightened its focus on the fair treatment of consumers. We have a dedicated Consumer Complaints Department, and I am pleased to report that we’ve made commendable progress. The growing number of consumer complaints and queries reflects a rising awareness among Namibians about their rights, responsibilities, and the importance of choosing financial products that suit their unique needs.
We encourage consumers not to lose hope or remain silent when facing unethical or questionable practices. NAMFISA is here to protect and support you. If you encounter challenges or unfair treatment from any financial institution, we urge you to reach out to us.
At NAMFISA, we remain committed to creating a regulatory environment that promotes safety, stability, and fairness in the financial sector. Ultimately, our vision is one of economic development, consumer protection, financial inclusion, well-functioning financial markets, and shared prosperity for all Namibians.
Thank you for reading, and for continuing to engage with us. Your input is always welcome, and I encourage you to continue sharing your feedback and suggestions with us.
Yours sincerely,
Phillip N. Shiimi
Chief Executive Officer NAMFISA
