The Namibia Financial Institutions Supervisory Authority (NAMFISA) is a cornerstone of the country’s financial sector, fostering a secure, fair, and consumer-protective non-banking financial system. Established under Act No. 3 of 2001, this independent body ensures the effective regulation and supervision of financial institutions and intermediaries in Namibia, operating solely through levies collected from the financial services industry.
- What does Namfisa do?
- What is the difference between Bank of Namibia and Namfisa?
- What is the mission of Namfisa?
- What is the mandate of Namfisa?
- Who is the CEO of Namfisa?
- How do I contact Namfisa?
Mission and Vision
NAMFISA’s mission and vision are central to its operations and goals:
- Mission:
NAMFISA aims to regulate and supervise financial institutions and intermediaries to promote a stable and fair financial sector while ensuring consumer protection. The authority also advises the Minister of Finance on matters related to the financial sector. - Vision:
To establish a safe, stable, and fair financial system that contributes to Namibia’s economic development while protecting the interests of consumers.
Core Values
NAMFISA operates based on a set of core values that guide its decisions and interactions:
- Teamwork: Collaborating effectively to achieve goals.
- Service Excellence: Striving for the highest standards in service delivery.
- Accountability: Ensuring transparency and responsibility in all actions.
- Integrity: Acting with honesty and fairness in all dealings.
- Agility: Responding quickly and effectively to changes in the financial landscape.
Services and Consumer Protection
NAMFISA prioritizes consumer education and protection, empowering individuals to make informed financial decisions. Through initiatives like the Consumer Education Website and user-friendly platforms such as the Electronic Regulatory System (ERS), the authority enhances accessibility and awareness of financial regulations.
Key Resources for Consumers and Stakeholders:
- Feedback Forms and ERS User Nomination Forms to streamline communication.
- Legislative Instruments for transparent governance.
- Tutorials, including the NAMFISA ERS user guide, for better system navigation.
Financial Stability and Economic Impact
NAMFISA plays a pivotal role in maintaining financial stability. With its oversight, the financial institutions under its purview adhere to standards that reduce risks and foster trust in the sector. Current financial rates include:
- Prime Rate: 11.00%
- Repo Rate: 7.25%
These rates reflect NAMFISA’s commitment to ensuring economic stability and sustainable growth in Namibia.
Graduate Development Programme
Recognizing the importance of capacity building, NAMFISA offers a Graduate Development Programme, nurturing young talent and equipping them with skills to contribute to the financial sector’s growth.
Contact Information
For inquiries, stakeholders can reach NAMFISA via:
- Phone: +264 61 290 5000 or Toll-free 0800 290 500
- Email: info@namfisa.com.na
- Physical Address: NAMFISA Head Office, 51-55 Werner List St, Gutenberg Plaza, Windhoek, Namibia
- Postal Address: P.O. Box 21250, Windhoek, Namibia