Fima ushers in new era for financial sector – Shafudah

The implementation of the Financial Institutions and Markets Act (Fima) on 1 May marked a significant step in modernising the regulation of Namibia’s non-banking financial sector. Finance minister Ericah Shafudah said this in parliament on Tuesday, arguing that the Fima Act 2 of 2021 ushers in a new era of financial regulation, consumer protection and inclusive economic development. She said the law establishes a modern regulatory framework designed to strengthen oversight of financial institutions, improve market confidence and support sustainable growth in the financial sector.