The Namibia Financial Institution Supervisory Authority (NAMFISA) has been awarded the Diamond Arrow Award for institutions conducting business in the most ethical way in Namibia and for their contribution to the economic growth and development of Namibia.
NAMFISA’s operations are premised around good corporate governance, stakeholder engagement and operational efficiency.
The Chief Executive Officer of NAMFSA Kenneth Matomola applauded the staff and key stakeholders for their contribution to attaining such a prestigious recognition award. “Ethical conduct is enshrined in our corporate values and operational policies.”
He added that the PMR Award has been in existence for 32 years and celebrates and recognizes excellence in the public and private sectors. The awards were hosted earlier this week.
The results are based on an annual survey and public perceptions that measure companies, institutions, government entities and individuals on their contribution to economic growth and development of the country, levels of management expertise, implementation of corporate governance and levels of innovation as well as brand awareness.
Matomola further stated that NAMFISA values stakeholder engagement that allows for improvement in the non-banking financial services sector and delivery of qualitative supervisory and advisory services.
NAMFISA was established to supervise financial institutions and financial services and to advise the Minister of Finance on matters relating to financial institutions and financial services in terms of the NAMFISA Act, 2001 (No. 3 of 2001).
It is further responsible for supervising and enforcing compliance with the Financial Intelligence Act, of 2012 with respect to all accountable and reporting institutions supervised by NAMFISA in terms of the NAMFISA Act.
This relates inter alia to the business of Long and Short-Term Insurance; Asset Management; Unit Trusts (Collective Investment Schemes); Pension Funds; Medical Aid Funds; Public Accountants and Auditors; Exchanges; Stock Brokers; Insurance Brokers and Agents; Friendly Societies; Money lenders; and Microlenders.