The Namibia Financial Institutions Supervisory Authority (NAMFISA) says the non-banking financial institutions (NBFI) sector grew total assets to N$552.8 billion in the fourth quarter of 2025, driven by investment performance and sustained demand for financial services.
According to the Fourth Quarter 2025 Statistical Bulletin, total assets rose by 4.7% quarter on quarter and 16.6% year on year, with pension funds, long-term insurers and collective investment schemes accounting for more than 90% of total assets.
“The NBFI sector demonstrated steady growth, with total assets reaching N$552.8 billion, representing a 4.7% increase quarter on quarter and 16.6% year on year,” said Abel Sindano, NAMFISA General Manager for Research, Policy and Statistics.
The sector comprised 1,193 active entities and 15,512 intermediaries at the end of the quarter, covering insurance, medical aid funds, retirement funds, friendly societies, capital markets and microlending institutions.
Compliance levels remained mixed, with 61.4% of entities fully compliant and 5.2% classified as non-compliant, mainly within the microlending industry.
“Compliance levels across the sector remain mixed, with 61.4% of entities fully compliant and 5.2% classified as non-compliant, with most non-compliant entities concentrated within the microlending industry,” Sindano said.
NAMFISA recorded 90 consumer complaints during the quarter, down 8.2% from the previous period, with 71.1% resolved within prescribed timelines.
“A total of 90 consumer complaints were registered during the quarter, reflecting an 8.2% decline from the previous quarter, with 71.1% successfully resolved within the prescribed timelines,” he said.
Consumer compensation amounted to N$1.7 million, with the pension funds sector accounting for the largest share.
Across industries, performance remained largely positive. Long-term insurance recorded strong asset growth and maintained solvency, while short-term insurance posted steady growth supported by higher investment holdings.
Medical aid funds maintained adequate reserves and recorded a surplus alongside modest membership growth, while retirement funds remained well funded with assets exceeding liabilities.
The investment management and collective investment schemes sectors recorded notable growth, driven by favourable market conditions and increased investor inflows. The microlending industry, however, saw a contraction in its overall loan book despite resilient lending activity.
“Across industries, performance remained largely positive, with the long-term insurance industry recording strong asset growth, short-term insurance experiencing steady growth, and collective investment schemes driven by favourable market conditions and increased investor inflows,” Sindano said.
