Saturday, Nov 01st

Last updateFri, 31 Oct 2014 8am

You are here: Home Markets NAMFISA reviews strategy
IMS

Logistics Association castigates TransNamib

The Namibia Logistics Association Secretary General, Harald Schmidt said that the country is fast approaching a point wh...

City will continue with land auctions

The City of Windhoek this week revealed that land auctions in the Academia Ext 1 and and 2 will go on uninterrupted desp...

Two storeys of outrageous outdoors life

Two storeys of outrageous outdoors life

Agra’s well-known outdoors outlet, Safari Den was literally elevated to another level with the opening of the new shop...

Future logistics plan for explosion

A newly formalised conceptual framework for the development of the transport sector, expects an explosion in transport a...

Simasiku plans to shake up energy

Former Chief Executive Officer of the Electricity Control Board of Namibia, Siseho Simasiku is at the forefront of a con...

Retail Charter in negotiation phase

Minister of Trade and Industry, Calle Schlettwein launched negotiation talks for the Namibian Retail Charter at the Nami...

NAMFISA reviews strategy

Financial institutions regulator, NAMFISA said it plans to have a modernised regulatory and supervisory framework in place within the next three years. The new laws will provide the regulator with strong enforcement powers against institutions that are found to contravene these laws.
Chairman of the NAMFISA board, Rick Kukuri said the revised strategy sets out the strategic objectives of the authority over the next five years and forms the basis of NAMFISA’s annual planning.
The new legislative base will also give the regulator the ability to deploy its limited resources towards the most vulnerable areas in the financial system. NAMFISA will further direct its attention to building the required human capacity which will enable it to deliver on its mandate effectively.
CEO Phillip Shiimi said given the importance of regulatory reform, “we placed the review of the financial institutions and markets bill at the top of our priorities. The financial institutions and market bill will provide us with a modern, flexible regulatory framework in the years to come.”
According to NAMFISA’s 2011 annual report, twenty new micro-lenders were licensed last year while two licenses were cancelled. The micro-lending sector now has 347 registered micro lenders, with total loans extended increasing by 19% to N$1.1 billion.
In the period under review, Investment management companies had N$86 billion of Namibia’s savings under management compared to N$84 billion in the previous period of which 53% was invested locally, while unit trust companies managed N$26 billion compared to N$25 billion in the previous period, 49% of which was is invested locally.
Long term insurers raised a total of N$4.5 billion in premiums in 2010 with total accumulated assets reported at N$25 billion compared to N$22 billion in 2009 against policy holders liabilities of N$22 billion compared to N$20 billion in 2009.
On the other hand, short term insurers reported an increase of 21% in assets to N$2.36 billion, receiving gross premiums of N$2.03 billion up from from N$1.76 billion in 2009. A total of N$162 million was paid in premiums for insurance placed outside the country, the report indicates.
Furthermore, the report shows that total pension funds reached N$63.9 billion from N$55.8 billion during 2009 while the medical aid fund, which covered 152 328 beneficiaries compared to 148 040 in 2009, received contributions amounting to N$1.5 billion up from N$1.39 billion received in 2009.

Articles In This Category
Markets
Hangana Seafood has outperformed its financial targets for 2011 and the company remains positive about the performance of the industry, despite the...
Markets
First National Bank Holdings announced recently that their 50 delegates of the New Managers’ Development Programme (NMDP), Management Development...
Markets
Markets
Mobile Telecommunication Limited (MTC), Namibia’s leading mobile network operator, has welcomed the successful in Service Declaration of the West...
Markets
Hendrik van der Westhuizen, the current managing director of Hangana Seafood, has been appointed as the new managing director of Namibia Breweries...
Markets
In a recent interview with the Economist, Adri Vermeulen, Chief Executive Officer of Professional Provident Society (PPS Namibia), spoke about the...
Markets
Highest growth in five years The FNB House Price Index registered its highest growth in 5 years, to end the month at 176 basis points based on data...
Markets
Results from the latest PPS Namibia Graduate Professional Confidence Index (PCI), which tracks the confidence levels of more than 230 of Namibia’s...
Markets
LONDON, (IRIN) - All over the world migrant workers are sending money home to their families. The money pays hospital bills and school fees, buys...
Markets
The Bank of Namibia this week announced that it will soon put into circulation the new and improved  10 and 20 Namibia Dollar notes after it was...
Related Articles
Markets
The Namibia Financial Institutions Supervisory Authority (NAMFISA) is currently conducting the final round of consultations with the industry on the...
Education
The Bank of Namibia and the Namibia Financial Institutions Supervision Authority granted bursaries to students in the areas of Economics, Accounting...
Latest Articles
Headlines
Three farmers from the North excelled this week Thursday at a Horticultural Day organised by the Namibian Agronomic Board to award the best farmers...
Headlines
After Trustco released its interim trading statement for the six months ended 30 September 2014 on Wednesday this week, Trustco shareholders will in...
Headlines
The Namibia Logistics Association Secretary General, Harald Schmidt said that the country is fast approaching a point where new road surfaces will...
Editors Desk
The runaway cost of land and housing is defeating all the growth and progress made over the past five years. Two significant events over the past...
31 Oct 2014 (11 hits)
Weather
What Happened? Conditions this week were fairly conventional for this transitional period between the seasons. At the beginning of the week, the...
Bank Windhoek partners with finance ministry

Bank Windhoek partners with finance ministry

Friday, 31 October 2014

Bank Windhoek and the Ministry of Finance entered into an agreement on Wednesday that will see the ministry being able t...

Readmore

Unlocking innovative ideas

Unlocking innovative ideas

Friday, 31 October 2014

Innovative ideas hold major benefits for economic growth, but the ideas have to be nurtured with finance as suggested by...

Readmore

MVA launches safety campaign

Friday, 31 October 2014

Getting into gear ahead of the upcoming festive season, the Motor Vehicle Accident Fund of Namibia will on 4 November fo...

Readmore

Car sales up 8.8% yoy

Friday, 24 October 2014

A total of 15,881 have been sold year to date while 1,912 new vehicles were sold during September, up 12.9% month on mon...

Readmore

Standard Bank ranked ‘cleanest’ bank

Friday, 31 October 2014

Standard Bank Group, Africa’s largest bank by assets and earnings, has been ranked 19th in the Bloomberg Markets World...

Readmore

Portugal Telecom woes unlikely to affect MTC

Friday, 31 October 2014

Shares in MTC Namibia’s technical partner, Portugal Telecom took a tumble recently to the extent that trading of its s...

Readmore

Property is ablaze but everybody loses

Friday, 31 October 2014

The runaway cost of land and housing is defeating all the growth and progress made over the past five years. Two signifi...

Readmore

Can one individual have such a profound impact?

Friday, 24 October 2014

Towards the middle of the recent Windhoek Show, long queues started forming around the back end of the President’s Hal...

Readmore

Friedrich’s Benchmarks

Friedrich’s Benchmarks

Friday, 31 October 2014

The graph below depicts a few interesting trend lines. Firstly, the blue line depicts one year rolling foreign investmen...

Readmore

Problem of the passive audience

Problem of the passive audience

Friday, 31 October 2014

Youtube has begun to insert advertising into their offering. Notionally, it works well. You have to view for five second...

Readmore

clean-towns-attract-businesses

clean-towns-attract-businesses

Friday, 31 October 2014

The Ohlthaver & List (O&L) Group of Companies formed part of a clean-up campaign in Ondangwa On 24 October 2014....

Readmore

Jews in SWA, Nam

Jews in SWA, Nam

Friday, 31 October 2014

The Windhoek Hebrew Congregation has published and released a book titled Jewish Life in South West Africa  Namibia...

Readmore

A revolution is coming

A revolution is coming

Friday, 31 October 2014

Imagine everyone, and by that I mean the proletariat, has become so g*tvol of our capitalist system that they are going ...

Readmore

Land inflation outstrips housing inflation

Friday, 31 October 2014

The land prices in Windhoek have increased to N$1,852 per square meter as suggested by FNB Namibia’s Senior Researcher...

Readmore

Safe 19 rocking hard

Safe 19 rocking hard

Friday, 31 October 2014

Stephen Slabber, vocalist for the alternative rock band Safe 19 has been in the music industry for almost ten years and ...

Readmore

Film  Review - Oblivion

Film Review - Oblivion

Friday, 31 October 2014

Director: Joseph Kosinski
Screenplay: Karl Gajdusek and Michael de Bruyn
Cast: Tom Cruise, Andrea Riseborough, Olga Kuryle...

Readmore

Welwitschias campaign funds trickle in

Welwitschias campaign funds trickle in

Friday, 31 October 2014

Namibia Breweries Limited (NBL) recently hosted a fundraising evening in aid of the Welwitschias National Rugby Team’s...

Readmore

NFA Congress to usher in new president

Friday, 31 October 2014

Following the successful hosting of the ninth edition of the Confederation of African Football (CAF) Women Championship ...

Readmore

31 Oct 2014

31 Oct 2014

Friday, 31 October 2014

What Happened?
Conditions this week were fairly conventional for this transitional period between the seasons. At the beg...

Readmore

24 October 2014

24 October 2014

Friday, 24 October 2014

What Happened?
For the observer on the surface there is always one indisputable indicator of humidity in the upper air an...

Readmore

Swakopmund hosts marine scientists

Friday, 24 October 2014


By Comfort Ajibola
[email protected]

At the opening of the official third global Large Marine Ecosystem Conference,...

Readmore

Elders considered in disaster planning

Elders considered in disaster planning

Friday, 24 October 2014

The City of Windhoek celebrated the International Day for Disaster Reduction on Wednesday at the Katutura Old Age Home. ...

Readmore

Meatco Awards Producers

Meatco Awards Producers

Friday, 31 October 2014

Meatco CEO Advocate Vekuii Rukoro thanked government on behalf of all of Meatco’s producers for a well thought out all...

Readmore

Transport solution for fresh produce

Transport solution for fresh produce

Friday, 31 October 2014

The Agro Marketing Trade Agency(AMTA) is in the process of making provisional transport available to fresh producers so ...

Readmore

Back to school

Back to school

Friday, 31 October 2014

FNB Namibia welcomed 30 staff members to the Group on 21 October. Group CEO Ian Leyenaar welcomed the new recruits atten...

Readmore

Debates on mining and human rights

Debates on mining and human rights

Friday, 31 October 2014

Four bright Namibian learners returned from Cape Town last week where they a achieved a third place in the International...

Readmore

Hilton triumphs at World Travel Awards

Hilton triumphs at World Travel Awards

Friday, 24 October 2014

Hilton Windhoek has been recognised as Namibia’s Leading Hotel at the finals of the renowned World Travel Awards 2014,...

Readmore

Safe plastic ideal for travellers

Friday, 24 October 2014

With the festive season at our doorstep, holiday makers and business travellers alike are bound to go around the globe a...

Readmore

Country Club to Cancer Ward

Country Club to Cancer Ward

Friday, 31 October 2014

Turkish Ambassador, HE Deniz Cakar (centre), Governor of the Khomas Region, Hon Laura McLeaod-Katjirua (left) and Genera...

Readmore

Movember has arrived

Friday, 17 October 2014

The Cancer Association of Namibia (CAN) launched the 6th Movember campaign to encourage men to grow their moustache for ...

Readmore

Kudu Power application shrouded in secrecy

Friday, 31 October 2014

Prospective power producer Kudu Power Company has been forced to re-apply for an electricity generation license the Econ...

Readmore

Next Graphite obtains clearance certificate

Friday, 31 October 2014

Next Graphite will commence with intensified drilling and exploration efforts after it received an environmental clearan...

Readmore

Packaged, easily available fish for everyone

Packaged, easily available fish for everyone

Friday, 31 October 2014

Paragon Investment Holdings commissioned trucks, freezers and packaged fish for its subsidiary, Paragon Seafood Products...

Readmore

Woolworths expands foot print

Friday, 31 October 2014

Boasting an impressive 480 square metres, Woolworths can lay claim to the biggest food market. Situated at the recently ...

Readmore

Half a lifetime makes a career

Half a lifetime makes a career

Friday, 31 October 2014

Standard Bank Namibia this week celebrated the long careers of many of its employees when 135 bankers received certifica...

Readmore

Mature careers benefit from MBA

Mature careers benefit from MBA

Friday, 31 October 2014

The University of Stellenbosch’s business school hosted an information session in Windhoek this week to entice more pr...

Readmore

Action Coach