Namfisa Chief Executive Officer Kenneth Matomola has been re-elected as the chairperson of the Committee of Insurance, Securities, and Non-Banking Financial Authorities (CISNA).
He was elected at the 46th CISNA bi-annual meeting which convened delegates representing member authorities and SADC structures covering various areas in the capital markets, insurance, and pension funds industries, among others.
“The General Council elected the new office bearers who would serve on the CISNA structure for a period of two years in terms of the CISNA Rules. Mr Kenneth Matomola, CEO of NAMFISA, was re-elected as the CISNA Chairperson and Dr Grace Muradzikwa, Commissioner of the Insurance and Pension Commission of Zimbabwe was elected as the CISNA Vice Chairperson,” a statement released by CISNA read.
The key focus areas of CISNA under Matomola’s leadership include harmonising legislative and supervisory frameworks, fostering market development, and enhancing consumer protection and education within the SADC region.
According to the statement, the General Council also approved the submission of eight model laws that span the areas of insurance, microfinance, cooperatives, debt listing, SMEs, financial intermediaries and medical aid societies to the Committee of Ministers of Finance and Investment.
“The model laws are important tools for harmonizing the regional regulatory and supervisory framework for the non-banking financial sector,” the statement reads.
CISNA was established in June 1998 as a committee of authorities responsible for supervising insurance, securities, and non-banking financial institutions in SADC Member States.
Its mandate is to ensure that the regulatory and supervisory framework for non-bank financial services within SADC Member States is harmonised and complies with the best international practices, standards, and principles set by relevant international standard-setting bodies.
