NAMFISA hosts Zimbabwe insurance and pension regulator
The Namibian Financial Institutions Supervisory Authority (NAMFISA) is hosting a 7-member delegation from the Insurance and Pensions Commission (IPEC) of Zimbabwe, a statement from NAMFISA said.
The Zimbabwean delegation headed by Blessmore Kazengura, the Director for Finance, will be in Windhoek until 9 July, to study the Authority’s operations and understand how NAMFISA’s two-pronged supervision, viz prudential and market conduct supervision, among others works.
Welcoming the delegation on Monday in Windhoek, NAMFISA’s Deputy CEO for Prudential Supervision, Erna Motinga explained that NAMFISA as a regulatory body plays a crucial role in ensuring financial stability and transforming the financial sector for the benefit of the consumers and the industries NAMFISA serve and ultimately contribute to the development of the Namibian economy.
She further emphasized the importance of stakeholder engagement and stated that “Stakeholder engagement remains a key strategic theme as an organisation, and we are happy to share and support other regulators who undertake study tours to learn from us.”
NAMFISA has been a leader in regulating and supervising the non-banking sector within the SADC Region. As a highly respected regulator, NAMFISA has assisted several regional bodies in improving regulatory and supervisory functions. Financial Regulators that benefited from engagements with NAMFISA include Botswana’s Non-Bank Financial Institutions Regulatory Authority (NBFIRA), the Tanzania Insurance Regulatory Authority (TIRA), and Eswatini’s Financial Services Regulatory Authority (FSRA), as well as the Securities and Exchange Commission of
Zimbabwe (SECZ), among others.
NAMFISA’s CEO, Kenneth Matomola is currently serving as the Chairperson of the Committee of Insurance, Securities and Non-Banking Financial Authorities (CISNA) for the next two years, this regional body aims to promote harmonisation of regulatory and supervisory regimes within the SADC region.
