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Annual report 2026
NAMFISA achieves 81% of Its Five Year Strategy
NAMFISA has achieved 81% of its five-year strategy as assets under its watch keep growing.
By Elizabeth Naftal
The Namibia Financial Institutions Supervisory Authority (NAMFISA) has achieved 81% of its five-year strategy after four years, with the remaining targets expected to be completed by March 2027.
The Authority`s Chief Executive Officer, Kenneth Matomola announced the progress during the authority’s 2026 annual report presentation in Windhoek on Monday, describing the performance as an achievement.
“Even if we stop delivering from today, we’ve already gotten an A. So that is an excellent performance,” Matomola said.
The authority’s progress comes as assets under its supervision grew by 16.6% to N$552.8 billion by 31 December 2025, highlighting the scale of the financial sector it oversees.
“The sector remains stable and resilient while supporting sustainable economic growth and development in Namibia,” Matomola said.
He emphasised the responsibility that comes with overseeing such a large pool of assets, warning that any significant loss would have serious implications for the country.
“If that amount disappears today, Namibia will be in trouble. So it is quite a huge responsibility,” he said.
NAMFISA regulates 16,800 entities, comprising 1,193 financial institutions and 15,607 intermediaries.
As part of its consumer protection mandate, the authority received 403 complaints in 2025 and resolved 93% of them. Its interventions resulted in N$4.4 million being paid to 81 complainants.
Matomola said the authority’s involvement helped consumers recover money that was owed to them.
The financial sector also recorded growth across several investment categories. Unit trust assets increased by 19.2% to N$123.4 billion, while pension fund investments grew by 15.5% to N$301.6 billion. Investment managers’ assets under management rose by 19.1% to N$338.2 billion.
All three figures are as at 31 December 2025.
In the microlending sector, outstanding loans declined by 6.4% to approximately N$7.6 billion. New loans disbursed totalled N$5.3 billion, while the number of borrowers increased by 16.3% to 279,594.
For the financial year ended 31 March 2026, NAMFISA recorded income of N$343.1 million and a deficit of N$31.3 million.
Matomola attributed the deficit to a once-off legal matter that had been ongoing for decades. The annual report reflects an N$83.6 million legal charge linked to the Supreme Court judgment in the Alwyn Petrus van Straten matter.
“If I exclude the legal cost charge, the expenditure just grew by less than 7%,” he said.
According to the report, expenditure would have increased by approximately 6.9% without the legal charge.
