Namfisa Procurement

The Namibia Financial Institutions Supervisory Authority (NAMFISA) plays a pivotal role in ensuring efficient, transparent, and inclusive procurement practices in Namibia. Guided by the Public Procurement Act, Act 15 of 2015, NAMFISA prioritizes compliance, local economic empowerment, and the sustainable allocation of resources.

Understanding NAMFISA’s Procurement Mandate

NAMFISA’s procurement activities are governed by principles of fairness and accountability as stipulated under the Public Procurement Act. The Procurement Management Unit oversees these processes, ensuring that the authority adheres to regulations, ethical practices, and best-value procurement strategies. Specific policies also prioritize local sourcing, promoting small, medium enterprises (SMEs) and businesses owned by youth, women, and previously disadvantaged individuals (PDI)​​

How to Become a Supplier for NAMFISA

Businesses aiming to supply goods or services to NAMFISA must meet specific eligibility criteria and provide mandatory documentation. Key requirements include:

  1. Company Registration: Proof from the Ministry of Industrialization, Trade, and SME Development or BIPA.
  2. Tax Compliance: Valid certificates of VAT and income tax good standing.
  3. Social Security Compliance: Good standing certificate from the Social Security Commission.
  4. Affirmative Action Compliance: Certificates under Namibia’s Affirmative Action Act.
  5. Business Profile: An overview of the company’s operations and capabilities.

Additionally, suppliers must specify their offerings, which can include office supplies, IT equipment, professional services, and more​​

NAMFISA’s Annual Procurement Plan

The Annual Procurement Plan (APP) outlines NAMFISA’s procurement needs for each fiscal year. For 2023/24, the planned procurements include:

  • Promotional items (N$305,000)
  • IT software licenses (N$2,089,312)
  • Professional services (N$268,598)
  • Consumer education initiatives (N$915,000)

With a total estimated budget exceeding N$304 million, opportunities span various sectors, offering numerous possibilities for local and regional suppliers​​

Key Highlights for Bidders

  • Transparent Bidding: NAMFISA ensures that bid invitations contain clear requirements and publishes additional clarifications on their website.
  • Competitive Selection: Contracts are awarded based on detailed evaluation criteria beyond just pricing, ensuring quality and fairness.
  • Dispute Resolution: Bidders dissatisfied with the process can request a review under the provisions of the Public Procurement Act​Namibia Fin. Institutions Authority​Namibia Fin. Institutions Authority.

Benefits of Partnering with NAMFISA

Engaging with NAMFISA as a supplier can bolster business visibility, offer financial growth opportunities, and contribute to Namibia’s broader socio-economic development. By aligning with NAMFISA’s procurement practices, businesses can also demonstrate their commitment to ethical and sustainable operations.