His Excellency Dr Hage Geingob, President of the Republic of Namibia, has unveiled the Harambee Prosperity Plan

As we are all aware, His Excellency Dr Hage Geingob,
President of the Republic of Namibia, has unveiled
the Harambee Prosperity Plan (HPP).
The HPP provides an opportunity for every Namibian to rally
towards a common goal, which is to achieve prosperity within
a given timeframe. In the true Harambee spirit, I am equally
excited to share with consumers of financial services, particularly
in the sector regulated by NAMFISA, the developments thus far.
Over the past years, NAMFISA has been engaged in the
transformation of the financial sector. The transformation
initiatives include, amongst others, dealing with illegal,
unregulated and unethical practices by financial service
providers and revamping the laws that govern the provision of
financial products and services. One of the pillars of the financial
laws is to foster consumer protection and awareness.
By creating awareness and educating the consumers of
financial services, NAMFISA is empowering consumers to
know their rights and obligations. Consequently, Namibians
will be empowered to make informed decisions and enjoy the
best possible legal protection from rogue service providers.
We are committed to ensuring that consumers have access
to information and available remedial avenues whilst using any
financial service. Nobody should feel left out because of lack of
information and awareness in this regard.
NAMFISA has been working on the following pieces of
legislation, the NAMFISA Bill, Financial Institutions and
Markets Bill, Financial Services Adjudicator Bill, and Microlending
Bill. These important pieces of legislation promote
financial stability, consumer protection, the reduction and
deterrence of financial crimes, and the highest standard
of business deportment required from all financial service
providers.
The Financial Services Adjudicator Bill, in particular, aims to
provide a mechanism for users of financial services to have their
complaints resolved free-of-charge. I therefore encourage the
esteemed consumers of financial services and products to take
keen interest in and familiarise yourselves with all of these Bills.
You are welcome to engage with NAMFISA for further details
and dialogue.
I encourage consumers of financial services and products to
continue to lodge their complaints, at no cost, regarding any
non-banking financial service provider. You have the right to
be heard.
In conclusion, I leave you with a quote from Kofi A. Annan
of Ghana, the seventh Secretary-General of the United Nations
who said:
“Knowledge is power; information is liberating; and
education is the premise of progress, in every society, in every
family.”

“We are committed to ensuring
that consumers have access
to information and available
remedial avenues whilst using
any financial service. Nobody
should feel left out because
of lack of information and
awareness in this regard.”

Kenneth S. Matomola, Acting CEO
From the Office
of the CEO

Leave a Reply

WP2Social Auto Publish Powered By : XYZScripts.com