What is NamFisa?

The Namibia Financial Institutions Supervisory Authority (NAMFISA) regulates and supervises the country’s non-banking financial sector.

Info Box

This page explains which entities must register with NAMFISA, the documents required, and the annual fees payable.

NAMFISA requires the following to be registered and licensed:

  • Retirement annuity & unit trust managers
  • Microlenders (cash loan & microfinance businesses)
  • Long-term & short-term insurers
  • Insurance brokers & agents (firms and individuals)
  • Pension funds
  • Medical aid funds
  • Friendly societies
  • Investment managers & securities dealers

Registration Process & Documents

  • Reserve your entity name on the NAMFISA ERS Online System
  • Submit founding documents (Memorandum & Articles / Founding Statement / Trust Deed)
  • Complete Fit & Proper (FAP) Questionnaires for directors, shareholders & trustees
  • Provide certified IDs or passports (≤6 months old)
  • Attach police clearance certificates (≤12 months old)
  • Submit CVs & proof of qualifications for key persons
  • Provide FIA compliance programme & FIC registration form
  • Proof of source of funds

Levies & Annual Fees

Entity Type

Annual Levy Basis

Long‑term insurer

0.41% of gross written premiums

Long‑term broker

0.48% of gross written premiums

Short‑term insurer

1.00% of gross written premiums

Short‑term broker

1.09% of gross written premiums

Friendly societies

1.40% of gross income

Medical aid funds

0.14% of gross contributions

Pension funds

0.01% of total assets

Retirement annuity funds

0.008% of total assets

Management companies (Unit Trusts)

0.042% of managed assets

Insurance Companies

Worked Example:
SecureLife Ltd (a long‑term insurer) registers under NAMFISA.

  • Levies: 1.00% of gross written premiums (short‑term)
  • Founding Documents (Memorandum & Articles of Association)
  • Fit & Proper Questionnaires for Directors & Principal Officers
  • Proof of Capitalization (as set by NAMFISA regulations)
  • Certified IDs / Passports of shareholders & directors
  • FIA Compliance Programme & FIC Registration Form
  • Police Clearance for key persons Levies: 0.41% of gross written premiums (long‑term)

Microlenders

Worked Example :
A cash loan company, Bright Finance CC, wants to renew its NAMFISA license. It submits:

  • MLR‑1 Form (Certificate of Compliance)
  • MLR‑2 Form (Quarterly Statistical Return)
  • Annual financial statements
  • Good Standing certificate from NamRA (tax authority)
  • Renewal fee: N$500 per year

Worked Example:
Unity Insurance Brokers applies for registration:

  • Registration Fee: N$200
  • Application via NAMFISA ERS Online
  • Proof of bank account
  • Letters of intent from insurers
  • Professional Indemnity Insurance (≥ N$1 million)
  • Completed FAP questionnaires for directors/owners
  • Certified IDs & Police Clearance certificates

Pension Funds & Medical Aid Funds

Worked Example:
Golden Years Pension Fund applies for registration.

  • Medical Aid Funds: 0.14% of Gross Contributions
  • Trust Deed & Rules of the Fund
  • Fit & Proper Questionnaires (Trustees, Principal Officer, Actuary)
  • Certified IDs & Police Clearance of trustees
  • FIA Compliance Programme
  • Annual audited financial statements
  • Levies: Pension Funds: 0.01% of Total Assets and Medical Aid Funds: 0.14% of Gross Contributions

Friendly Societies & Investment Managers

Worked Example:
Namibia Mutual Aid Society registers as a friendly society.

  • Investment Managers: 0.042% of Managed Assets
  • Founding Documents (Constitution or Rules)
  • FAP Questionnaires for management committee
  • Certified IDs & Police Clearance
  • FIA Compliance Programme
  • Levies: Friendly Societies: 1.40% of Gross Income and Investment Managers: 0.042% of Managed Assets

Need Official Forms?

Download the latest NAMFISA forms via the NAMFISA ERS Online Platform or visit your nearest NAMFISA office for guidance. Staying compliant ensures your financial business continues operating legally in Namibia.

Website: https://www.namfisa.com.na/

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