Non-banking sector consumers awarded N$1.7m in compensation

CHAMWE KAIRA

A total of 98 consumer complaints were registered in Namibia’s non-banking financial institutions (NBFI) during the first quarter of this year, reflecting an 8.9% increase from the previous quarter.

Of these, 91.8% were successfully resolved, all within the prescribed service-level agreement timelines. Total compensation awarded to consumers amounted to N$1.7 million, with the short-term insurance sector accounting for 61.1% of the total compensation.