Allexer Namundjembo
The chief executive officer of the Namibia Financial Institutions Supervisory Authority (Namfisa), Kenneth Matomola, says favourable market conditions, lower interest rates, and moderate inflation helped push the value of the non-banking financial sector to N$474.1 billion in the 2024/25 financial year.
This figure represents growth of 14.3% compared to the previous year’s 4.2% decline.
“Our regulated entities continue to demonstrate financial stability and resilience, underscoring the effectiveness of our oversight and operational efficiency initiatives,” Matomola said on Thursday at the launch of the 2025 annual report in Windhoek.
The report shows that NAMFISA’s regulatory portfolio has expanded to 1 032 entities and 14 701 intermediaries, covering microlenders, insurers, pension funds, and investment managers.
Microlenders remain the largest contributor, with outstanding loans reaching N$8.1 billion by the end of 2024, a 12.8% increase from the previous year.
Pension funds invested N$261.2 billion, while collective investment schemes grew by 16.1% to N$103.5 billion.
Long-term insurers reported assets worth N$83.8 billion, and short-term insurers N$9.1 billion.
Namfisa also resolved 96% of the 373 complaints received during the year, reimbursing N$11.8 million to clients.
The authority said this outcome reflects its commitment to consumer protection.
The report further noted that Namfisa employed 187 staff members, 56.6% of whom are women, showing progress on equal opportunity and skills development.
Despite broader economic pressures, Matomola said the financial sector remains sound and poses no systemic risks.
“The growth in assets highlights the stability and confidence in our regulated institutions,” he stated.
For the 2023/24 financial year, Namfisa recorded total income of N$279.5 million against expenditures of N$254.7 million, resulting in a surplus of N$37.7 million.
This contrasted with a budgeted deficit of N$16.6 million.
Nmafisa’s assets rose by 11.3% to N$339 million, driven by higher investment balances and new acquisitions.
Namfisa regulates 1032 financial institutions and 14 701 intermediaries.
