The Namibia Financial Institutions Supervisory Authority (Namfisa) says the country’s non-bank financial sector remained stable during the 2025/26 financial year as it strengthened oversight, consumer protection and regulation.
The authority made the announcement in its latest annual report, where it also said it achieved 82% of its strategic objectives for the financial year, with most annual and long-term targets met or exceeded. Namfisa chief executive officer Kenneth Matomola said the authority continued to deliver on its mandate despite operating in a changing environment.
“I am pleased to present this annual report, which reflects a year of strong institutional performance and sustained progress in the Namibia Financial Institutions Supervisory Authority’s delivery of its mandate,” Matomola said. He said the authority remained focused on safeguarding the stability and integrity of the non-bank financial sector, protecting financial consumers, and supporting inclusive and sustainable financial sector development. According to the report, Namfisa improved operational efficiency by strengthening internal processes, improving resource use, and enhancing risk-based supervision and market conduct oversight. The report states that stakeholder engagement remained a key part of its work, with continued cooperation among financial institutions, policymakers, consumer representatives, and international partners to improve compliance and strengthen confidence in the sector. Namfisa also continued promoting financial innovation through its Regulatory Sandbox, which allows financial technology companies to test new products under regulatory supervision. The authority said the initiative supports evidence-based policymaking and advances financial inclusion.
One major development this year was the enactment of the Namfisa Act, which strengthened the authority’s legal framework, governance, and supervisory powers. The report says the law improves regulatory clarity and aligns Namibia’s regulatory system with international standards.
The authority also made progress on the Consumer Credit Bill, which is expected to strengthen consumer protection, promote responsible lending, and improve fairness and transparency in the credit market. -pmukokobi@nepc.com.na
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