The Namibia Financial Institutions Supervisory Authority (NAMFISA) reported levy income of N$291.7 million for the year ended March 2025, up 14.2% from the previous year.
The increase of N$36.2 million reflected growth in the non-bank financial institutions (NBFI) sector.
Chief Executive Officer Kenneth Matomola said total income stood at N$312.3 million, while expenditure rose to N$268.3 million.
He said a comprehensive surplus of N$46.5 million was achieved, supported by stronger levy collections and higher cash balances.
“Levy income growth confirms that the sector remains financially stable, sound and resilient despite a challenging economic environment,” Matomola said.
He added that the NBFI industry accounted for more than 70% of Namibia’s financial sector assets, with total assets expanding by 14.3% to N$474.1 billion in 2024, aided by lower interest rates and moderating inflation. Entities under supervision increased to 1,032, alongside 14,701 intermediaries.
“The industry’s size and resilience underscore its importance to fiscal stability and economic development in Namibia,” Matomola said.
Long-term insurance assets rose by 12.9% to N$83.8 billion, while short-term insurers recorded 17.8% growth to N$9.1 billion.
“Insurance firms continue to maintain solvency levels well above prudential requirements, reflecting a strong capital position in the sector,” he said.
Pension fund investments grew by 10.8% to N$261.2 billion, with insurance policies increasing by 15% to N$31.2 billion. Exposure to Namibian assets edged up to 50.3% compared with 50% a year earlier.
“Pension funds remain a cornerstone of household savings, and their asset growth shows a steady confidence in the Namibian economy,” Matomola said.
Investment managers’ assets under management increased by 12.9% to N$284 billion, while collective investment schemes advanced by 16.1% to N$103.5 billion, with domestic allocations accounting for just over half in both categories.
Microlending borrowers rose by 8.4% to 240,475 households, with the loan book expanding 12.8% to N$8.1 billion. Term lenders represented 94% of the total value of loans disbursed.
“Microlending continues to grow in reach, but it remains an area requiring careful supervision to protect vulnerable households,” Matomola said.
Medical aid funds collected N$6.1 billion in gross contributions, 11.8% higher than in 2023.
Solvency levels for open funds improved to 32.1% from 24.3%, supported by cost-saving measures that reduced healthcare expenditure.
NAMFISA’s total assets increased by 13% to N$383 million, with reserves reaching N$270.3 million.
Matomola said the authority had maintained unqualified audit outcomes for five consecutive years, reinforcing its financial position.
