NAMFISA has a dedicated Complaints Department that investigates complaints on behalf of consumers of non-bank financial services and products.
Complaints range from:
• Extensions of repayment periods without consumers’ consent
• Repudiations of insurance claims
• Non-payments of pension benefits
• Excessive interest charges
• Illegal deductions
• Non-cancellations of contracts
In the event that the consumer feels aggrieved, he/she can lodge a complaint against non-bank financial institutions (registered and doing business in Namibia) with NAMFISA. It is important to note, however, that NAMFISA only has jurisdiction over institutions registered with it and doing business in Namibia. It is therefore important to ensure that you only do business with registered entities. You can contact NAMFISA with the details of the business to find out whether it is registered or not.
Steps to follow when lodging a complaint:
• Ensure that you have a valid complaint by checking with the NAMFISA Complaints Department at 061 290 5134.
• You will be required to first lodge your complaint in writing with the financial institution concerned.
If this fails, you can contact NAMFISA.
• Keep copies of all relevant documentation to send with the complaint and for record purposes.
• Keep copies of all correspondences between you and the financial institution.
• Do not send original documents unless you are required to do so.
• Record names, dates, contact details and important information. This makes the investigation easier and faster to conclude.
• If you lodge your complaint via telephone, always follow up the call with a letter.
• Stay calm even if they (financial institution) are angry.
• Back up your claim in writing as far as possible.
Complaints can be submitted to:
E-mail: firstname.lastname@example.org Post: P.O. Box 21250, Windhoek By hand: Sanlam Centre, 2nd Floor Fax: 061 290 5161