Holes poked in FIMA housing loan rules …village houses financing a distant dream
When Namibia’s Financial Institutions and Markets Act (FIMA) came into effect on 1 May 2026, it was hailed as one of the biggest ever shake-ups of the country’s non-banking financial sector in decades. However, a little more than a year later, some in the pension fund industry are questioning if FIMA’s consumer protection measures are... The post Holes poked in FIMA housing loan rules …village houses financing a distant dream appeared first on New Era .
When Namibia’s Financial Institutions and Markets Act (FIMA) came into effect on 1 May 2026, it was hailed as one of the biggest ever shake-ups of the country’s non-banking financial sector in decades.
However, a little more than a year later, some in the pension fund industry are questioning if FIMA’s consumer protection measures are instead making life harder for the very people it was designed to help.
Some industry experts are increasingly concerned that Section 282(2) of the Act, intended to safeguard retirement savings, may unintentionally prevent thousands of pensioners from accessing affordable housing finance to build, renovate or improve their homes.
Pension funds industry expert Vincent Shimutwikeni and manager of legal services at RFS Fund Administrators this week emphasised that his concerns relate specifically to retirement funds that grant direct housing loans to members and should not be confused with the recently announced Government Institutions Pension Fund (GIPF) housing initiative.
