Thursday, Jan 29th

Last updateFri, 23 Jan 2015 10am

You are here: Home Markets NAMFISA reviews strategy
IMS

Paladin’s revenue spikes 79%

A downturn in the spot price of uranium has not deterred production at Paladin Energy’s Langer Heinrich operation. Lan...

TransNamib begs for N$9 billion bail out

TransNamib unveiled its first consignment of 21 locomotives this week at the Windhoek train station.
The 5 locomotives ar...

Akwenye is new DBN Chairperson

Akwenye is new DBN Chairperson

Former Chief Executive Officer at Millennium Challenge Account Namibia, Penny Akwenye has been appointed as Development ...

Nedbank Namibia MD excited about 2015 prospects

Nedbank Namibia MD excited about 2015 prospects

Nedbank Namibia’s Managing Director Lionel Matthews said he is excited by the bright prospects for Nedbank Namibia in ...

Shiny wheels keep Hardap rolling

Shiny wheels keep Hardap rolling

Wednesday was Christmas all over again for the Hardap Regional Council. The six constituency offices received a fleet of...

U-pgrade tweaking gains momentum

Efforts to commercialise Marenica’s U-pgrade processing technology gained momentum this week when Australian based min...

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
More small and medium enterprises (SMEs) in Namibia are seeking financial assistance, with an increased number of entrepreneurs recorded applying for...
Markets
The Namibia Statistics Agency reveals ints GDP second quarter report that the GDP for the second quarter of 2014 recorded a growth of 3.0 % compared...
Surety and risk (692 hits)
Markets
Recently, uncertainty and concerns surrounding the use of homes as collateral has thrown the issue of collateral and recovery of capital into the...
Markets
The Walvis Bay Corridor Group (WBCG) has expanded its reach to the South American region with the successful launch of the WBCG office in Sao Paulo,...
Markets
The Walvis Bay Corridor Group (WBCG) hosted an information session in Lusaka, Zambia earlier in August to improve awareness of the benefits of...
Markets
Announcing the full year results of the Business Connexion Group,  CEO Benjamin Mophatlane said the strong growth in key financial metrics is...
Markets
A specialist fund management company, Business Partners International (BPI), launched a N$100 million Business Partners International Namibia SME...
Markets
The growth forecast revisions come after the release of rebased national accounts (base 2010 from base 2004), which rebasing naturally results in...
Markets
Air Namibia this week announced that it has reversed its decision to terminate the loss-making Windhoek-Accra route. The Head of Corporate...
Markets
More than three years after Cabinet gave its blessings to the formation of a bank that caters exclusively for small and medium enterprises, the...
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
At the dawn of Independence in 1990, the Peace Corps Volunteer relationship between Namibia and the United States started. More than 1500 volunteers...
Headlines
Witvlei Meat Managing Director Sydney Martin said this week that the government has not kept its promise of allocating a sufficient quota to its...
Headlines
A downturn in the spot price of uranium has not deterred production at Paladin Energy’s Langer Heinrich operation. Langer Heinrich produced 27%...
Weather
What Happened With the Kaiser’s birthday on Tuesday, folklore has it the rain season only starts now. There may be more truth in this...
Editors Desk
Throughout this year, the verdict on the Eurozone cardhouse will remain in the balance. If the European Central Bank’s copycat experiment work,...
SA to Chair the Group of 77

SA to Chair the Group of 77

Friday, 23 January 2015

Earlier in the month, South Africa assumed the Chair of the Group of 77 (G77), at the United Nations Headquarters in New...

Readmore

Africans struggling to maintain territorial integrity

Friday, 23 January 2015

The latest report from Think Security Africa is the organisation’s fifth annual review on security in Africa suggests ...

Readmore

BMW Motorrad sales increase by 7.2%

BMW Motorrad sales increase by 7.2%

Friday, 23 January 2015

Despite costing from N$170,000 upwards, BMW motorcycles said 2014 was the company’s most successful year in their almo...

Readmore

Hino delivers at Dakar Rallyv

Hino delivers at Dakar Rallyv

Friday, 23 January 2015

There was pure elation in Buenos Aires after the finish of Stage 13, final stage of the 2015 Dakar, when South Africa’...

Readmore

Simonis Storm launches Namibian Bond Index Series

Simonis Storm launches Namibian Bond Index Series

Friday, 23 January 2015

Local stock-broking firm Simonis Storm Securities (SSS) kicked off the calender year by launching its Government Bond In...

Readmore

Stock-broking firm optimistic about growth

Friday, 23 January 2015

Simonis Storm Securities (SSS) is upbeat about the economic outlook for 2015. Resident economist, Daniel Kavishe at SSS ...

Readmore

Teutons shiver as ECB lets lose a liquidity tsunami

Friday, 23 January 2015

Throughout this year, the verdict on the Eurozone cardhouse will remain in the balance. If the European Central Bank’s...

Readmore

Stealing public goods is exactly the same as treason

Friday, 16 January 2015

Being a citizen of a functional democracy is a great privilege given the absence of this vital development ingredient in...

Readmore

Managing trolls and learning from critics on social networks

Managing trolls and learning from critics on social networks

Friday, 23 January 2015

Facebook provides an exceptional opportunity for learning about your brand, particularly what people believe about it, w...

Readmore

Offbeat 23 January 2015

Offbeat 23 January 2015

Friday, 23 January 2015

Nowadays there is plenty of opportunity to watch a move: DVDs, DVD rentals and even whole movies on Youtube, though not ...

Readmore

Hannah for Life saves infant lives

Hannah for Life saves infant lives

Friday, 23 January 2015

“Whether you are a corporate giant, a small business or just you, what you give to others matters” said Natasja Beyl...

Readmore

A citizen who makes a difference

A citizen who makes a difference

Friday, 23 January 2015

Marbeline Mwashekele, Deputy Director of Information and Research in the Ministry of Foreign Affairs established a non-p...

Readmore

Impacts of the tariffs on the healthcare sector

Friday, 23 January 2015

During a raging debate between the Namibian Association of Medical Aid Funds (NAMAF) and Namibia Private Practitioners F...

Readmore

Bafana of Bafunny

Bafana of Bafunny

Friday, 23 January 2015

Beaming at the prospect of watching South African national team Bafana Bafana take part in this year’s edition of the ...

Readmore

Get set for Song Night 2015

Get set for Song Night 2015

Friday, 23 January 2015

This year, Lize Ehlers, the founder of Song Night, is not only looking to provide a platform for artists, but is lobbyin...

Readmore

Seventh Son-Film Review

Seventh Son-Film Review

Friday, 23 January 2015

When the darkness falls the son will rise is what best describes the Seventh Son, a medieval fantasy that tells the stor...

Readmore

Final Bidvest Cup edition launched

Final Bidvest Cup edition launched

Friday, 23 January 2015

Bidvest Namibia will continue for the third and last time its contribution to the national league as the period of spons...

Readmore

Eagles taste first defeat

Eagles taste first defeat

Friday, 23 January 2015

After an impressive winning streak at the underway Pepsi-ICC Cricket League division 2, Namibia’s Eagles tasted their ...

Readmore

Weather 23 January 2015

Weather 23 January 2015

Friday, 23 January 2015

What Happened
With the Kaiser’s birthday on Tuesday, folklore has it the rain season only starts now. There may be more...

Readmore

Weather 16 January 2015

Weather 16 January 2015

Friday, 16 January 2015

What Happened
The excessive heat of the holidays has abated somewhat creating space for the zonal airflow across the sub-...

Readmore

NACOMA and NADEET recycle

NACOMA and NADEET recycle

Friday, 23 January 2015

The Recycle Namibia Forum this week welcomed three new associate members to its growing list of companies and organisati...

Readmore

Hadedas invade the Kwando

Hadedas invade the Kwando

Friday, 23 January 2015

The Hadeda ibis, that large, noisy, raucous bird that is the bane of gardens in Gauteng, has recently been confirmed as ...

Readmore

Rehoboth chickens run wild on council funding

Rehoboth chickens run wild on council funding

Friday, 23 January 2015

Eric Campbell, a veteran local farmer at Oumamas, a small settlement situated in the Rehoboth district in the Hardap Reg...

Readmore

No certified beef exports to the Philippines

Friday, 16 January 2015

The Ministry of Agriculture said this week that the Foot and Mouth outbreak in the Zambezi Region and Mukwe constituency...

Readmore

Business school takes registration to the people

Business school takes registration to the people

Friday, 23 January 2015

The Southern Business School (SBS) Namibia will bring registration and access to tertiary education to prospective stude...

Readmore

St Boniface College delivers again

St Boniface College delivers again

Friday, 16 January 2015

Alfons Kudumo, a pupil from St Boniface College is the country’s number one ranked pupil of the 2014 Grade 12 Namibia ...

Readmore

The importance and necessities of airport taxes

The importance and necessities of airport taxes

Friday, 23 January 2015

“More often than not we hear people say that flights are not that expensive but the airport taxes are. They also expre...

Readmore

Lesbian and Gay tourism joins WTM Africa

Friday, 23 January 2015

The International Gay & Lesbian Travel Association (IGLTA) recently signed an agreement to become an association par...

Readmore

After one year it is too late

After one year it is too late

Friday, 23 January 2015

Despite positive gains, many children still face enormous inequality. Poverty affects 34% of all children, while one in ...

Readmore

Take a break to  take the lead

Take a break to take the lead

Friday, 23 January 2015

Back to Business is the reality of every new year but Juanita Slinger, First National Bank’s Wellness Coordinator, las...

Readmore

Wolfshag resource much higher than inferred

Friday, 23 January 2015

B2Gold recently announced a significantly higher grade updated gold mineral resource estimate for the Wolfshag zone, loc...

Readmore

NamPower avails surplus energy to struggling neighbours

Friday, 23 January 2015

Power utility company, NamPower following part of an annual Surplus Sales Agreement which is in place with both Eskom an...

Readmore

Retail Charter penciled

Friday, 23 January 2015

The retail Charter is gaining momentum as Task Teams have started to meet with dates penciled in getting the Retail Char...

Readmore

Rhodes acquires Pacmar, sets sights on SSA

Friday, 09 January 2015

The recent acquisition of Pacmar by the Rhodes Food Group is intent on its part of further expansion into Sub-Saharan Af...

Readmore

NUNW - workers must be treated fairly

NUNW - workers must be treated fairly

Friday, 23 January 2015

The National Union of Namibian Workers(NUNW) held its first press conference for the year on Wednesday, where it highlig...

Readmore

General Services fight not to be classified: Essential

General Services fight not to be classified: Essential

Friday, 23 January 2015

An investigation facilitated by the Essential Services Committee, a standing committee of the Labour Advisory Council, h...

Readmore