Why NAMFISA Regulates and Supervises Financial Institutions
As part of its ongoing efforts to protect and empower consumers of financial services, NAMFISA is proud to support the Financial Literacy Initiative (FLI) — a national campaign to promote financial education and responsible financial behaviour across Namibia. This initiative is aligned with World Consumer Rights Day, commemorated annually on March 15, which may serve as the official launch date of the next FLI campaign (depending on date of publication).
The Financial Literacy Initiative (FLI) is a national multi-stakeholder platform established by the Ministry of Finance in 2009. It brings together over 20 public, private, and civil society institutions working within the financial sector to jointly coordinate, guide, and implement financial education and consumer protection efforts in Namibia.
The Financial Literacy Initiative (FLI) is a national multi-stakeholder platform established by the Ministry of Finance in 2009. It brings together over 20 public, private, and civil society institutions working within the financial sector to jointly coordinate, guide, and implement financial education and consumer protection efforts in Namibia.
Vision and Goals of the FLI
Vision
To improve the quality of life of all Namibians and reduce the economic divide by empowering citizens to become financially capable, assertive, and well-protected.
Key Goals
Through these goals, the FLI promotes informed financial decision-making, increased access to financial services, and stronger consumer confidence in Namibia’s financial system.
Who Is the FLI For?
While the FLI’s mission applies to all individuals and enterprises in Namibia, the initial focus is on:
Additional target audiences include:
What Activities Will the FLI Carry Out?
To reach its target groups, the FLI Secretariat (under the Ministry of Finance) and its platform partners have developed a nationwide media and awareness campaign, launched in March 2012 and continuing annually. Activities include:
These efforts aim to promote better financial behaviours, such as saving, budgeting, and wise spending — core principles that support economic empowerment and responsible consumerism.
NAMFISA’s Role
As a founding partner of the FLI and a key regulatory body, NAMFISA’s mandate is to supervise and regulate non-bank financial institutions. This includes ensuring that:
By supporting initiatives like the FLI, NAMFISA helps build a more inclusive, resilient, and consumer-friendly financial ecosystem in Namibia.
