The Namibia Financial Institutions Supervisory Authority (NAMFISA) was established by an Act of Parliament—The NAMFISA Act (Act No. 3 of 2001)—to regulate and supervise the non-banking financial services sector in Namibia.
NAMFISA’s role is to ensure that the institutions and service providers operating in this sector are licensed, compliant, and operating within the law. The Authority also advises the Minister of Finance on matters related to the non-banking financial industry.
Effective regulation and supervision are critical for:
NAMFISA’s role is to ensure that the institutions and service providers operating in this sector are licensed, compliant, and operating within the law. The Authority also advises the Minister of Finance on matters related to the non-banking financial industry.
Effective regulation and supervision are critical for:
What Is NAMFISA's Mandate
NAMFISA is responsible for the regulation and supervision of all non-banking financial institutions and activities in Namibia. These include:
Before NAMFISA’s establishment, this responsibility was handled by the Ministry of Finance. NAMFISA was created to strengthen the regulation of this growing industry and to safeguard the interests of all stakeholders, especially consumers.
Given the size and value of Namibia’s financial industry, NAMFISA plays a crucial role in ensuring fair competition, maintaining stability, and protecting consumers from unfair or harmful practices.
Given the size and value of Namibia’s financial industry, NAMFISA plays a crucial role in ensuring fair competition, maintaining stability, and protecting consumers from unfair or harmful practices.
NAMFISA’s Role In The National Strategy
Together with the Ministry of Finance and the Bank of Namibia, NAMFISA is one of the key implementing agencies of the Namibia Financial Sector Strategy (NFSS), launched in August 2012.
The NFSS is a long-term strategy aimed at strengthening the Namibian financial system. Its goals include:
The NFSS is a long-term strategy aimed at strengthening the Namibian financial system. Its goals include:
By regulating fairly and enforcing responsibly, NAMFISA works to create a financial system that is accessible, transparent, and safe for all Namibians.
