Windhoek: The Namibia Health Plan (NHP) has announced that the implementation of the Financial Institutions and Markets Act (FIMA) will not immediately affect its members.

According to Namibia Press Agency, NHP Principal Officer Dantago Garosas made this statement during a media engagement session in Windhoek, aimed at informing journalists about the fund's preparations for FIMA and its implications. Garosas emphasized the importance of creating an ongoing dialogue with the public and sensitizing journalists through fair and transparent reporting.

Garosas highlighted that the engagement session would help in understanding FIMA and its implementation as the regulatory process unfolds. NHP Corporate Communications Manager Tunohole Mungoba added that the session is part of the fund's strategy to proactively communicate with journalists, rather than only responding to issues as they arise.

The session also featured Alvin Ntibinyane, a seasoned journalist and assistant professor of journalism at MacEwan University in Canada. Ntibinyane advised journalists to comprehend technical subjects thoroughly before communicating them to the public, especially concerning legislation and regulatory developments.

Ntibinyane stressed the importance of translating institutional language into terms that citizens can understand, to ensure accurate reporting on complex matters like FIMA. He noted that simplifying technical information without losing its essence is crucial for public understanding.

NHP reiterated its commitment to public education and ongoing engagement with stakeholders to ensure that members and the general public are well informed about FIMA-related developments. The Financial Institutions and Markets Act, effective since May, aims to modernize the regulation of Namibia's non-banking financial sector, covering retirement funds, medical aid schemes, and insurance institutions.