Namfisa records stable financial results

By Andre Tino

NAMIBIA Financial Institutions Supervisory Authority (Namfisa) Chief Executive Officer (CEO) Kenneth Matomola says the institution effectively completed 24 per cent of the strategic activities specified in its 2022-2027 fiveyear strategy. Matomola highlighted Namfisa’s unwavering dedication to attaining organisational goals and providing value to stakeholders. He emphasised that the non-bank financial institution (NBFI) performed on its purpose despite significant headwinds during the fiscal year ending March 31, 2023, owing primarily to the COVID-19 pandemic, Russia’s invasion of Ukraine, and rising commodity prices. Matomola pointed out that Namfisa ensures that the non-bank financial institutions (NBFIs) sector stays financially healthy and stable.

“This is demonstrated by the funding/solvency position remaining above prudential requirements, and the fiscal year 2022/23 marked the start of Namfisa’s ambitious five-year strategy, which runs from 2022 through 2027 and officially began on April 1, 2022.

Among the eleven strategic objectives outlined, our primary focus has been directed toward those that lay the groundwork for significant impact throughout this strategic period,” he explained. According to Matomola, the strategic focus is improving Namfisa’s service delivery through a comprehensive strategy that includes robust data management, strategic technology deployment, process and system refinement, and financial sustainability enhancement.

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