Chamwe Kaira
The Namibia Financial Institutions Supervisory Authority’s (Namfisa) income for the financial year ending 31 March 2025 rose by 11.7% to N$312.3 million from N$279.5 million in 2024.
Expenditure increased by 5.4% to N$268.3 million, while other comprehensive income amounted to N$2.5 million.
This resulted in a total comprehensive surplus of N$46.5 million compared to N$37.7 million the previous year.
The surplus exceeded the budgeted surplus of N$81,202, supported by expenditure control and sustained revenue growth, the authority said.
Levy income, which makes up most of Namfisa’s non-exchange revenue, grew by N$36.2 million (14.2%) to N$291.7 million from N$255.5 million in 2024.
The authority said this reflects the resilience and stability of the non-banking financial institutions sector. Investment income increased to N$14.1 million from N$12.6 million, while other income stood at N$4.9 million.
Total assets reached N$383 million, up N$44 million (13%) from the previous year.
Namfisa said the increase was mainly driven by accumulated income, which rose to N$140.2 million, while the general reserve grew by N$18 million to N$130 million in line with policy.
The staff turnover rate was 6.84%, down from 8.45% the previous year but still above the target of 5%.
The workforce, including temporary staff, increased by 1.1% to 187 employees as of 31 March 2025.
Namfisa board chairperson Hettie Garbers-Kirsten said the board has directed the implementation of internal risk monitoring mechanisms.
“Through regular scenario planning, stress testing, and the use of both qualitative and quantitative indicators, Namfisa has reinforced its preparedness to respond swiftly and effectively to potential threats. These measures bolster financial stability, consumer protection, and investor confidence, which is core to Namfisa’s mission,” she said.
Namfisa chief executive officer Kenneth Matomola said priorities include stronger regulatory oversight, financial literacy, and modernising financial markets.
“We have made progress through digital transformation, improved regulatory tools for non-bank financial institutions, and a stronger risk-based supervisory framework. Together, these efforts reinforce our commitment to a resilient and adaptive financial sector,” he said.
Matomola added that financial sustainability remains central to Namfisa’s mandate to safeguard the integrity and stability of the non-bank financial sector.
Caption
Namfisa board chairperson Hettie Garbers-Kirsten
