Namibia Financial Institutions Supervisory Authority (NAMFISA) has made strong progress in improving its supervision of the non-bank financial sector, as the organisation continues to respond to a fast-changing financial environment. This is according to its 2025 annual report.
Board chairperson Hettie Garbers-Kirsten said NAMFISA has refined its Risk-Based Supervision (RBS) Framework to better identify and manage risks in the sector. She explained that the authority is now using more predictive, data-driven tools to assess the risk levels of the institutions it regulates. These improved methods allow NAMFISA to respond more accurately and effectively when risks arise.
“Innovation is essential for the growth of the financial industry. NAMFISA continues to support financial technology (FinTech) and digital transformation, encouraging the development of efficient, inclusive, and consumer-focused services while ensuring that financial stability is maintained,” she said.
Chief executive officer Kenneth Matomola said that the non-bank financial sector remains stable and resilient.
“This stability is the result of proactive regulation and strong cooperation between NAMFISA and industry players. Key priorities for the authority include strengthening regulatory oversight, improving financial literacy, and modernising financial markets,” he said.
Matomola noted that NAMFISA’s financial sustainability is crucial to its mandate. Through careful cost management and continued investment in staff development, the Authority ensures it has the resources needed to carry out its regulatory duties and adapt to new industry trends.
For the financial year ending 31 March 2025, NAMFISA recorded total income of N$312.3 million, an increase of 11.7% from the previous year. Levy income rose by N$36.2 million to N$291.7 million, showing the continued strength of non-bank financial institutions. Investment income increased to N$14.1 million, while other income reached N$4.9 million.
He stated that NAMFISA remains committed to ensuring that Namibia’s financial sector stays fair, secure, and competitive, benefiting all stakeholders.
“We invest in leadership and staff development to ensure organisational excellence. Senior management programmes focus on strategic and agile leadership, while ongoing learning opportunities enable all employees to grow and meet the evolving demands of our industry. Together, these initiatives support a high-performance culture built on innovation and shared success,” he said.