What Namfisa does

NAMFISA (Namibia Financial Institutions Supervisory Authority) is a statutory regulatory authority established under Act No. 3 of 2001 to regulate and supervise Namibia's non-bank financial sector, operating as an independent entity funded entirely through levies imposed on the financial institutions and intermediaries it oversees. Its regulatory perimeter spans insurance companies, pension funds, medical aid funds, microlenders, capital markets participants, and friendly societies, and it also enforces compliance with the Financial Intelligence Act 2012. Core operational technology includes the NAMFISA Online Electronic Regulatory System (ERS) portal for licensing and compliance submissions, an online Consumer Complaints system, a 24/7 Whistleblower Hotline, and a Consumer Education portal at educates.namfisa.com.na.

The authority's product portfolio also includes the Regulatory Sandbox (with Sandbox 2.0 expanded in 2025 to cover insurtech, lending, and robo-advisors) and the annual FinTech Square innovation platform, which connects regulators, financial institutions, fintech startups, investors, and academic partners. Internally, NAMFISA is organized into functional divisions including Research Policy & Statistics, Pension Funds & Friendly Societies, Human Resources, Finance & Administration, Legal Services, ICT, Governance Risk & Compliance, Strategy & Projects, and Internal Audit, led by CEO Kenneth S. Matomola. The organization has signed coordination agreements with the Bank of Namibia (updated March 2026) and maintains affiliations with international bodies including IAIS, IOSCO, and CISNA.

NAMFISA's revenue model is non-commercial: it does not charge consumers and does not sell products in a market sense. Instead, it collects statutorily mandated levies from the entire licensed non-bank financial industry, with rates set under the NAMFISA Act and not publicly disclosed. The authority is 100% Namibian-owned, reports to the Minister of Finance, and operates in the public interest. Its go-to-market is therefore regulatory rather than commercial: engagement with regulated entities occurs through the ERS portal, licensing workflows, supervisory examinations, and consumer-facing education and complaints channels, supplemented by industry events and the FinTech Square ecosystem.

Name

Namfisa

Legal name

Namibia Financial Institutions Supervisory Authority

Website

https://namfisa.com.na

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

251–500 employees

Short description

NAMFISA is Namibia's statutory regulator for non-bank financial institutions (insurance, pension funds, microlenders, medical aid funds, capital markets), supervising industry compliance and consumer protection through digital platforms, a regulatory sandbox, and the FinTech Square ecosystem, funded entirely by industry levies under Act No. 3 of 2001.

Ownership category

akta.pro rank

Product category

Financial Regulation

NAICS

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors (926150)

SIC

Finance Services (6199)

akta.pro primary industry

Financial Services Regulators (Banking, Securities, Insurance) (BPAIAOAK)

akta.pro secondary industry

Regulatory Reporting & Recordkeeping (AML/CTF) (FSAMAMAG)

Keywords

• Financial sector regulation
• Non-bank supervision
• Regulatory licensing
• Consumer protection
• Anti-money laundering enforcement

Headquarters

HQ city

Windhoek

HQ country

Namibia

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Industry Levies: NAMFISA is fully funded through levies imposed on the financial institutions and intermediaries it regulates and supervises. This is the primary funding mechanism established under Act No. 3 of 2001.

Distribution channels2 records

Marketing channels4 records

Core offering

Namfisa is Namibia's statutory regulatory authority, established under Act No. 3 of 2001, that regulates and supervises non-bank financial institutions and intermediaries including insurers, pension funds, capital markets participants, microlenders and medical aid funds. It licenses entities, enforces compliance with the Financial Intelligence Act 2012, runs a consumer complaints and education programme, and operates a fintech Regulatory Sandbox.

Product overview

NAMFISA operates as a regulatory authority for Namibia's non-bank financial sector, providing a portfolio of digital platforms and services. The core offerings include NAMFISA Online (ERS) for regulatory submissions, a Consumer Complaints System for dispute resolution, the Regulatory Sandbox for fintech innovation testing, and FinTech Square as an annual industry event platform. Supporting services include Consumer Education through a dedicated portal and a Whistleblower Hotline for reporting misconduct. The organization is transitioning toward greater digital engagement with RegTech and SupTech integration into regulatory processes.

Differentiator

Problem solved

Functional benefit

Products and services

• NAMFISA Online (ERS) Electronic Regulatory System portal that provides online access for financial institutions and intermediaries to submit regulatory filings, applications, and compliance documentation to Namfisa.
• Consumer Complaints System Online complaint submission system that allows consumers to lodge complaints against financial institutions, with tracking and resolution management capabilities.
• Regulatory Sandbox Innovation testing environment that allows fintech innovators to test new products and services under Namfisa's regulatory supervision before full market launch, with Sandbox 2.0 covering insurtech, lending, and robo-advisors.
• FinTech Square Annual flagship innovation platform fostering dialogue, knowledge sharing, and innovation across the Namibian FinTech ecosystem, connecting regulators, financial institutions, entrepreneurs, and investors.
• NAMFISA Consumer Education Financial literacy and consumer education platform providing guidance on financial products, consumer rights, and responsible financial decision-making for the Namibian public.
• Whistleblower Hotline Anonymous reporting platform for reporting wrongdoing, misconduct, or illegal activities within non-bank financial institutions, available 24/7 via toll-free number (0800 222 333), fax, or email.

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Bank of NamibiacoreStrategic or Co-development Partner · 24 March 2026NAMFISA and Bank of Namibia signed an updated Memorandum of Agreement to strengthen cooperation in regulating and supervising Namibia's financial sector. The agreement establishes a framework for information sharing, joint supervision, regulatory oversight of banking and financial institutions, and a joint technical working group for FinTech development.
• International Association of Insurance Supervisors (IAIS)minorOthersAffiliated organization providing international insurance regulatory standards and collaboration.
• IOSCO (International Organization of Securities Commissions)minorOthersAffiliated organization providing international securities regulatory standards and collaboration.
• NAMAF (Namibia Medical Association Fund)minorOthersAffiliated healthcare funding regulatory body in Namibia.
• CISNA (Council of Insurance Supervisors of Southern Africa)minorOthersRegional insurance regulatory body for Southern African development community.
• Ministry of FinancecoreOthersNAMFISA provides advice to the Minister of Finance on financial institutions and financial services. Previously, these supervisory functions were handled by a Directorate within the Ministry.
• CRAN (Communications Regulatory Authority of Namibia)minorStrategic or Co-development PartnerCRAN participates in NAMFISA's FinTech Square events and collaborates on regulatory matters related to fintech innovation in Namibia.
• DBN (Development Bank of Namibia)minorStrategic or Co-development PartnerDBN participates in FinTech Square events and supports fintech ecosystem development in Namibia.
• NIPDB (National Integrated Programme Development Bank)minorStrategic or Co-development PartnerNIPDB participates in NAMFISA's fintech initiatives and ecosystem development programs.
• NUST (Namibia University of Science and Technology)minorStrategic or Co-development PartnerAcademic partner participating in FinTech Square events to support innovation and research collaboration in financial technology.
• UNAM (University of Namibia)minorStrategic or Co-development PartnerAcademic partner participating in FinTech Square events to support innovation and development in the fintech ecosystem.

Scale indicators1 record

Recent moves7 records

Expansion highlights5 records

Regional players

• Central Bank of Kenya (CBK): CBK operates a well-known FinTech regulatory sandbox and supervises a broad set of non-bank financial institutions. Operates in a different African geography but is comparable as an African regulator that has built a sandbox and innovation agenda similar to NAMFISA's FinTech Square.
• Bank of Botswana: The Bank of Botswana performs integrated prudential and market conduct oversight of financial institutions in Botswana. Comparable as a SADC-region integrated financial regulator, and a natural coordination counterparty for NAMFISA under CISNA and SADC engagements.
• Central Bank of Nigeria (CBN) - Financial Services Regulation: CBN supervises Nigerian banks and certain non-bank institutions and has active FinTech/innovation programs. Comparable as a large African regulator grappling with rapid fintech growth and AML/CFT enforcement — a useful peer for the trajectory NAMFISA may follow as Namibia's market matures.
• Insurance Regulatory Authority of Uganda (IRA): IRA regulates insurance and related non-bank financial services in Uganda. Comparable as an African single-purpose (insurance-led) non-bank regulator of similar institutional scale, providing a relevant peer for NAMFISA's insurance and pension fund supervision lines.

Broad incumbents

• Reserve Bank of South Africa (SARB) - Financial Surveillance Department: SARB oversees the South African financial system including prudential supervision and FinTech/innovation policy. Comparable to NAMFISA in supervisory function but at a much larger scale; serves as the regional benchmark for non-bank and emerging regulatory frameworks within SADC.
• Securities and Exchange Commission (SEC), United States: The SEC is the US capital markets regulator with broad supervisory and enforcement powers. Comparable in capital markets oversight and investor protection scope — areas NAMFISA covers through its capital markets supervision mandate under FIMA.
• Bank of Namibia: The central bank and banking-sector regulator in Namibia. While NAMFISA supervises non-bank financial institutions, Bank of Namibia regulates banks; the two coordinate via an updated MoA (March 2026) covering joint supervision and a joint FinTech working group, making it the most closely coordinated peer.
• Financial Conduct Authority (FCA), United Kingdom: The FCA regulates conduct and prudential standards for UK financial firms and operates a flagship regulatory sandbox. Comparable as a global benchmark for conduct supervision and innovation testing, against which NAMFISA's framework and Sandbox 2.0 implicitly benchmark.

Others

• International Association of Insurance Supervisors (IAIS): IAIS is the global standard-setting body for insurance supervision and a NAMFISA member. It is not a direct competitor but a key peer institution: IAIS frameworks (ICP) shape NAMFISA's insurance regulatory approach and are an indirect benchmark for its supervisory capacity.

Direct peers

• Financial Sector Conduct Authority (FSCA), South Africa: The FSCA is South Africa's conduct regulator for non-bank financial institutions (insurers, pension funds, intermediaries). It is the closest functional analogue to NAMFISA — covering insurance, pensions, and intermediaries under a single integrated supervisor — but operates in a much larger market (SADC's most developed financial system).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/namfisa

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Namfisa