Windhoek: The Namibia Financial Institutions Supervisory Authority (Namfisa) has released its Quarterly Statistical Bulletin for the third quarter of 2025, reporting on performance, compliance and consumer protection in the non-banking financial institutions sector.
According to Namibia Press Agency, the bulletin, covering the period from 01 July to 30 September, provides information on trends, performance and regulatory matters in the non-banking financial institutions (NBFI) sector. This sector includes insurance companies, medical aid funds, retirement funds, friendly societies, capital market institutions, and microlending institutions, as detailed in Namfisa’s press release issued on Wednesday.
By the end of the third quarter of 2025, the NBFI sector comprised 1,142 active entities and 15,406 registered intermediaries. On regulatory compliance, Namfisa reported that 59.7 per cent, equating to 682 entities, were classified as Stage 1, indicating compliance with regulatory requirements. A further 4.1 per cent, or 47 entities, were classified as Stage 5 and regarded as non-compliant. ‘Of the non-compliant entities, 83.0 per cent were concentrated in the microlending industry,’ the report stated.
The authority attributed non-compliance among Stage 4 and Stage 5 microlenders to the failure to submit regulatory returns, non-payment of levies, and failure to respond to inspection findings or implement remedial actions. During the third quarter of 2025, 98 consumer complaints were registered, representing a 6.7 per cent decline from the previous quarter and a 22.5 per cent increase compared to the same period in 2024. ‘A total 82.7 per cent of complaints were resolved, with 95.1 per cent resolved within the 40-day service-level agreement,’ the bulletin noted. Consequently, a total of N.dollars 157,105 was awarded to consumers, with the short-term insurance sector accounting for 41.4 per cent of complaints received.
The bulletin highlights that total assets in the NBFI sector reached N.dollars 528.2 billion, reflecting a 5.3 per cent increase quarter-on-quarter and a 14.8 per cent increase year-on-year. It further indicated that pension funds, long-term insurers, and collective investment schemes accounted for more than 91 per cent of total sector assets. Long-term insurance assets increased to N.dollars 93.1 billion, while short-term insurance assets amounted to N.dollars 10.1 billion. The solvency ratio for short-term insurers declined to 1.37 times, while the liquidity ratio stood at 9.6 times.
Medical aid funds recorded a net surplus of N.dollars 129.5 million, with reserves above the 25 per cent prudential requirement. Membership increased to 223,961 beneficiaries. Retirement funds’ total investment assets rose to N.dollars 288.6 billion, while friendly societies reported total assets of N.dollars 3 million.
The investment management sector recorded assets under management of N.dollars 321.6 billion. Collective investment schemes’ assets under management increased to N.dollars 119 billion, while assets administered by linked investment service providers rose to N.dollars 22.4 billion. The microlending industry reported a total loan book of N.dollars 7.8 billion, reflecting a 0.1 per cent decline quarter-on-quarter and a 7.2 per cent increase year-on-year, with term lenders accounting for 92.0 per cent of the loan book.