{"id":1004,"date":"2017-03-27T16:50:19","date_gmt":"2017-03-27T14:50:19","guid":{"rendered":"https:\/\/www.namfisa.com.na\/educates\/?p=1004"},"modified":"2025-07-20T23:03:37","modified_gmt":"2025-07-20T21:03:37","slug":"from-the-office-of-the-ceo","status":"publish","type":"post","link":"https:\/\/www.namfisa.com.na\/educates\/from-the-office-of-the-ceo\/","title":{"rendered":"From The Office Of The CEO"},"content":{"rendered":"\t\t
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Message from the CEO<\/h3><\/span><\/div>
Since the launch of the NAMFISA Consumer Ed-ucation Bulletins, we have endeavoured to provide you, the consumer, with the information you need to make well-informed financial decisions.\n\n

\n\nWe would like to believe that we have been able to help consumers of financial services to understand their rights and obligations.\n\n

\n\nThe importance of financial education cannot be overemphasised. It is essential for all consumers of financial services to have the necessary information and tools to decide how to budget, buy a home and fund their children\u2019s educations, among others.\n\n

\n\nWe understand fairly well the difficult economic circumstances under which many of our people live and the need to make ends meet under tough circum-stances. These circumstances unfortunately pressure people to commit themselves to undertakings that they cannot honour in the long run.\n\n

\n\nAs a result, we find many consumers facing prob-lems with being unable to repay loans, having their properties repossessed and blacklisted. These are all unwanted and avoidable situations that many con-sumers find themselves in.\n\n

\n\nWittingly or unwittingly, consumers enter into con-tracts to secure loans or to buy items on credit. Very often, as our statistics prove, consumers do not take due care to consider what they are letting themselves in for. It becomes unfortunate that after a contract has been entered into with a service provider or supplier of goods, the consumer discovers that he or she cannot afford the monthly payments or that the\nproduct or service is not working for him or her. This is usually caused when consumers don\u2019t take time to read the contracts or make the effort to have it explained to them before signing. Consumers should ensure that they understand all the risks involved be-fore entering into contracts or transactions. It is the right of the consumer to demand from the service provider that all the risks involved should be ex-plained in plain and understandable language.\n\n

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Claiming not to have known the stipulations of an agreement or contract is not sufficient reason to have a contract cancelled. Consumers should out of necessity ensure that they understand before signing on the dotted line.<\/blockquote>\n

\n\n\u201cI am therefore making a special plea to consumers of financial services to ensure that they fully understand their rights and responsibilities.\u201d\n\n

\n\nNAMFISA will continue its consumer education efforts, but will not succeed if consumers do not react positively to our efforts. As CEO of NAMFISA, I am therefore making a special plea to consumers of financial services to ensure that they\n\n

\n\nfully understand their rights and responsibilities. While NAMFISA\u2019s job is to regulate to ensure a\n\n

\n\nsafe and stable financial environment, consumers must understand that\n\n

\n\nregulation alone is not sufficient to protect their rights; their behaviour plays a big role.\n\n

\n\nTo ensure that we walk this path, you will find that this revamped Bulletin has a \u201cCEO Question Slot.\u201d It is meant for us to engage via this publication to ensure that we provide you with the necessary infor-mation and answers that you require. I look forward to engaging with you.\n\n

\n\nEnjoy your reading.\n\n

\n\nMr. Phillip Shiimi\n\n

\n\nNAMFISA CEO<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Takeaways<\/h3><\/span><\/div>
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Message from the CEO<\/h3>Mr. Phillip Shiimi<\/span><\/span><\/div>
Since the launch of the NAMFISA Consumer Education Bulletins, our mission has been to equip you\u2014the consumer\u2014with the information needed to make well-informed financial decisions.\n\nWe believe we\u2019ve helped many consumers better understand their rights and responsibilities in the financial sector.\n

\n\nFinancial education is not a luxury\u2014it\u2019s a necessity. Consumers should be empowered to:<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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  • <\/span>Create and manage budgets<\/li>
  • <\/span>Buy homes responsibly<\/li>
  • <\/span>Fund their children\u2019s education<\/li>
  • <\/span>Make wise investment decisions<\/li><\/ul><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    <\/h5><\/div>
    We understand the difficult economic conditions under which many Namibians live. These challenges often pressure people into financial commitments they cannot sustain\u2014leading to:<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    • <\/span>Unpaid loans<\/li>
    • <\/span>Repossessions<\/li>
    • <\/span>Being blacklisted<\/li><\/ul><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      Contracts and Credit: Think Before You Sign<\/h5><\/div>
      Unfortunately, many consumers enter contracts for loans or goods on credit without fully understanding what they are agreeing to.\n

      \n\nThis often happens because:<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      • <\/span>Contracts are not read carefully<\/li>
      • <\/span>Key terms are not explained clearly<\/li>
      • <\/span>Assumptions are made without asking questions<\/li><\/ul><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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        Important Reminder:<\/h5><\/div>
        It is your right to demand that all terms and risks be explained in plain and understandable language.<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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        <\/h5><\/div>
        Claiming not to have understood a contract is not sufficient reason to have it cancelled.\nTake responsibility\u2014ask questions, and read before you sign.<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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        Let\u2019s Work Together<\/h5><\/div>
        While NAMFISA regulates the financial industry to ensure safety and stability, that alone is not enough.\nConsumers must play their part by:<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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        • <\/span>Educating themselves<\/li>
        • <\/span>Making responsible financial decisions<\/li>
        • <\/span>Engaging with available resources<\/li><\/ul><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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          Introducing the \u201cCEO Question Slot\u201d<\/h5><\/div>
          To strengthen our engagement with you, this revamped bulletin includes a new feature:\n

          \n\u201cCEO Question Slot\u201d \u2013 a platform where your questions are answered directly by the CEO.\n

          \n\nWe invite you to use this opportunity to ask, learn and grow your financial knowledge.<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

          Message from the CEO Since the launch of the NAMFISA Consumer Ed-ucation Bulletins, we have endeavoured to provide you, the consumer, with the information you need to make well-informed financial<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"footnotes":""},"categories":[429],"tags":[],"class_list":["post-1004","post","type-post","status-publish","format-standard","hentry","category-editors-desk"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/comments?post=1004"}],"version-history":[{"count":7,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1004\/revisions"}],"predecessor-version":[{"id":35942,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1004\/revisions\/35942"}],"wp:attachment":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/media?parent=1004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/categories?post=1004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/tags?post=1004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}