NAMFISA has a dedicated Complaints Department that in-vestigates complaints on behalf of consumers of non-bank financial services and products. These complaints range from breach of contract, i.e. increasing of repayment peri-ods without prior consent, increasing of repayment amounts (installments) due to increased interest rates, over-charging on loans, non-payment of insurance benefits as per contract/ agreement, non-payment of pension benefits, etc.
In the event that the consumer feels aggrieved, he/she can lodge a complaint against non-bank financial institutions (reg-istered and doing business in Namibia) with NAMFISA. It is important to note, however, that NAMFISA only has jurisdic-tion over institutions registered with it and doing business in Namibia. It is therefore very important to ensure that you ONLY do business with registered entities (you can contact NAM-FISA with the details of the business to find out whether it is registered or not).
The steps to follow when lodging a complaint are:
• 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 with the financial institution concerned (in writing). 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 infor-mation (this makes the investigation easier and faster to conclude).
• If you complain on the phone, 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 via:
Post (P.O. Box 21250, Windhoek)
By hand (Sanlam Centre, 2nd floor)
Fax (061- 290 5161)
Mrs. Hilka Alberto
23 March 2012
Dear Mrs. Alberto,
SETTLEMENT OF CLAIM BY NAMFISA
I refer to the above matter.
In January 2010, I experienced an armed robbery at my residence. To my dismay, the insurer at the time rejected my claim on the ground that I had no proof of ownership for two items that I claimed for. I appealed their decision but to no avail.
As a result of my dissatisfaction with the way they handled my claim, I terminated my contract in August 2010. In January 2012, I received advice from a friend to lodge a complaint with NAMFISA.
As a result of NAMFISA’s intervention and assistance, the insurer re-considered my claim and offered to settle. My claim wais paid out on 21 March 2012.
I would like to thank NAMFISA for their assistance, especially the friendly staff in the Complaints Department, for without your assis-tance, this would not have been possible.
Keep up the good work.
Ms. H.N. Nandago