Reflections on the First Months of FIMA’s Implementation
On 1 May 2026, Namibia's retirement fund industry entered a new regulatory era with the commencement of the Financial Institutions and Markets Act, 2021 ("FIMA"). The Act represents the most significant reform of the retirement fund regulatory framework in decades, strengthening governance, enhancing member protection and modernising the regulation of non-bank financial institutions.
When law meets administration.
Carmen Diehl & Vincent Shimutwikeni
On 1 May 2026, Namibia’s retirement fund industry entered a new regulatory era with the commencement of the Financial Institutions and Markets Act, 2021 (“FIMA”). The Act represents the most significant reform of the retirement fund regulatory framework in decades, strengthening governance, enhancing member protection and modernising the regulation of non-bank financial institutions.
As with any significant legislative reform, however, the true test of the law does not begin when it is published in the Government Gazette. It begins when its provisions must be translated into systems, processes, decisions and, ultimately, outcomes for members.
