Namfisa to host 46th SADC non-banking authorities meeting

Martin Endjala

Namibia Financial Institutions Supervisory Authority (Namfisa), will host the 46th meeting of the Committee of Insurance, Securities and Non-Banking Financial Authority (CISNA) of the Southern African Development Community (SADC) in Swakopmund from 1-6 October 2023.

Namfisa Chief Executive Officer Kenneth Matomola, who also serves as CISNA Chairperson, reiterated yesterday that the committee is committed to achieving SADC’s objectives by translating the objectives into actionable programmes and projects to ensure that they are attained within a specified timeframe.

He said the key focus area of the convening meeting includes harmonisation of the legislative and supervisory framework, capacity building, marketing development and consumer protection education within the SADC region.

Matomola says the CISNA’s objectives include the promotion of financial stability in the non-bank financial sector by effectively and efficiently championing a process of collaboration, engagement and coordination between the non-banks financial institutions regulators and stakeholders through policy research, capacity building and market development initiatives.

He added that the committee is also actively promoting Anti-Money laundering, counter-financing of Terrorism and Financial Crimes Prevention in line with the Financial Action Task Force standards.

Matomola said Namfisa has been among the leaders in the non-bank regulatory authorities within the SADC Region and has assisted several regional regulatory and supervisory bodies in establishing regulatory and supervision functions and frameworks.

“After the annual general council meeting, CISNA will host capacity building, which will feature discussions on critical topics such as financial technology, Green hydrogen and the SADC gender toolkit. The meeting will also cover areas in the Capital Markets, Insurance and Pension funds industries among others,” he said.

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