CEO’s Corner
Mr. Phillip ShiimiIt is once again my pleasure to welcome you to the CEO’s Corner of the NAMFISA Consumer Education Bulletin. I would like to take this opportunity to thank you sincerely for the continuous feedback you provide—not only on consumer education topics, but also on NAMFISA’s role in general.
When we first launched this educational publication, our aim was clear: to create a platform for meaningful engagement with consumers of financial services and products. Through this Bulletin, we strive to share useful, easy-to-understand information about the financial sector and help consumers make informed financial decisions.
I am pleased to report that we are meeting this objective. The NAMFISA Consumer Education Bulletin, published quarterly, reflects our commitment to strengthening financial literacy. It also complements the responsibilities of financial service providers, who are expected to act in the best interest of consumers.
Basic financial skills—like budgeting, saving, understanding credit agreements, and managing debt—form a solid foundation for smart borrowing and help prevent over-indebtedness. These are the skills we want to instill through our educational efforts.
When we first launched this educational publication, our aim was clear: to create a platform for meaningful engagement with consumers of financial services and products. Through this Bulletin, we strive to share useful, easy-to-understand information about the financial sector and help consumers make informed financial decisions.
I am pleased to report that we are meeting this objective. The NAMFISA Consumer Education Bulletin, published quarterly, reflects our commitment to strengthening financial literacy. It also complements the responsibilities of financial service providers, who are expected to act in the best interest of consumers.
Basic financial skills—like budgeting, saving, understanding credit agreements, and managing debt—form a solid foundation for smart borrowing and help prevent over-indebtedness. These are the skills we want to instill through our educational efforts.
“Education is a social process; education is growth; education is not a preparation for life but is life itself.” – John Dewey
This quote resonates with NAMFISA’s goal to empower citizens to take charge of their financial lives. We believe that financial education is not a one-time event, but a lifelong journey—and we are committed to walking that journey with you.
Recognising that financial education takes time, and is often more difficult in practice than in theory, we have introduced new ways to engage with you. For example, we recently piloted an SMS campaign to better understand your awareness of NAMFISA, its mandate, and the types of entities we regulate. The results showed that while some consumers are familiar with NAMFISA, there is still a significant number who need more engagement and clarity.
In response, we are launching a new feature in this Bulletin titled “Who is NAMFISA?” This section will:
Recognising that financial education takes time, and is often more difficult in practice than in theory, we have introduced new ways to engage with you. For example, we recently piloted an SMS campaign to better understand your awareness of NAMFISA, its mandate, and the types of entities we regulate. The results showed that while some consumers are familiar with NAMFISA, there is still a significant number who need more engagement and clarity.
In response, we are launching a new feature in this Bulletin titled “Who is NAMFISA?” This section will:
We hope this feature will enhance public understanding and help manage expectations about NAMFISA’s role in the broader financial system.
As always, we invite you to reach out to our Corporate Communications and Consumer Education team with questions, ideas, or suggestions for future Bulletin topics. Your feedback helps us serve you better.
Wishing you a happy and informative reading experience.
As always, we invite you to reach out to our Corporate Communications and Consumer Education team with questions, ideas, or suggestions for future Bulletin topics. Your feedback helps us serve you better.
Wishing you a happy and informative reading experience.
