Namfisa Recovers N$1.7 Million for Consumers in Q1 2026
The Namibia Financial Institutions Supervisory Authority (Namfisa) helped consumers recover more than N$1.7 million during the first quarter of 2026 after intervening in complaints lodged against financial service providers. Namfisa said on Friday that it ordered N$1.73 million to be paid back to consumers between January and March. This was slightly higher than the N$1.72 million paid out in the previous quarter. The complaints came from consumers in the long-term and short-
The Namibia Financial Institutions Supervisory Authority (Namfisa) successfully recovered over N$1.7 million for consumers during the first quarter of 2026. This amount, paid out between January and March, represents a slight increase from the previous quarter. Namfisa intervened in complaints lodged against various financial service providers, including long-term and short-term insurance, pension funds, micro-lending, and credit agreements. Common issues involved delays in pension payments, rejected funeral insurance claims, and contract cancellation problems. The short-term insurance sector saw the largest portion of recovered funds, with N$1.06 million returned to consumers. Namfisa CEO Kenneth Matomola reiterated the authority's commitment to consumer protection and encouraged consumers to utilize available complaint mechanisms.
This report highlights Namfisa's role in protecting consumers and ensuring fair practices within Namibia's financial sector, demonstrating tangible financial benefits for individuals.
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