The Namibia Savings and Investment Association (NaSIA) is shifting its focus to address critical challenges facing the country’s investment sector, says CEO Josephat Mwatotele.
Speaking at a recent industry event, Mwatotele emphasised the urgency of addressing issues such as the shortage of skilled professionals and the need to localise the industry to secure long-term growth.
He called for a collective effort across all sectors and underscored the importance of proactive, self-driven solutions rather than relying on regulatory enforcement.
The CEO emphasised the importance of working together across sectors, including regulators, to maximise Namibia’s resources.
“We are Namibians and we must work together to make our resources count,” Mwatotele added.
He highlighted the regulators as key partners in this effort, emphasising that the industry must take the lead in addressing its challenges.
Another critical issue raised was the localisation of the industry. Mwatotele stressed the need to cultivate homegrown talent and ownership of financial products to strengthen Namibia’s financial ecosystem.
“We must solve these issues in our lifetime to ensure future generations don’t face the same challenges,” he said.
This comes as NaSIA, which represents non-banking financial institutions, now manages nearly N$100 billion in savings products such as insurance and collective investment schemes.
Mwatotele also addressed concerns about the traditional role of industry bodies, which often protect the interests of their members.
However, he made it clear that NaSIA aims to be a platform for collaboration rather than self-interest.
“We see ourselves as a space where stakeholders come together to answer the question: How do we develop this market?” he explained.
Looking forward, Mwatotele emphasised that NaSIA’s focus is on creating a competitive and innovative industry.
“This is the Namibian spirit. We can do things together, maximise our resources, and ensure that the industry we leave behind is better than what we found,” he said.
