Namibia’s long-awaited Consumer Credit Bill is expected to be resubmitted to the Minister of Finance by September or October 2026, following the conclusion of a final round of stakeholder consultations.
The legislation will then proceed through the normal parliamentary process before it can be enacted into law.
According to Namibia Financial Institutions Supervisory Authority General Manager for Legal and Licensing Services, Nolan Swartz, the latest consultation phase, which concluded on 13 March 2026, was initiated after further submissions were received from the Micro Lending Association following the earlier draft.
“The final version of the bill was submitted to the minister on 14 October 2025. Following additional input from the Microlending Association, the minister approved a final round of consultations, which concluded on 13 March 2026. The feedback from this round is currently being incorporated. It is expected that the bill will be finalised and resubmitted to the minister by September or October 2026, after which it will proceed through the normal parliamentary process,” he said.
The proposed law seeks to strengthen oversight of consumer lending by introducing a more comprehensive regulatory framework covering credit providers, credit bureaux and debt collectors.
A key provision of the bill is that it will apply to existing credit agreements. This means long-term facilities such as vehicle finance and mortgages will fall under the new regulatory regime, ensuring consumers are protected even where agreements were entered into before the law comes into force. Transitional measures have also been included to prevent undue disadvantage to credit providers.
Swartz said the bill also introduces tighter controls over credit bureaux, which are currently regulated by the Bank of Namibia.
“Importantly, credit bureaus will also be subject to stricter regulation. At present, they fall under the Bank of Namibia, but the new bill introduces stronger provisions. For example, in cases where a consumer disputes a listing, such as being listed on ITC despite having paid, there will be safeguards to prevent listing until the dispute is resolved. This is critical, as being listed can severely limit access to credit,” he said.
The bill has been under development since 2022 and has undergone an extensive consultation process, including public engagements across all 14 regions. These consultations allowed both consumers and industry stakeholders to provide input through in-person sessions and written submissions.
