The Namibia Financial Institutions Supervisory Authority has published three standards under the Financial Institutions and Markets Act, 2021 for fund and society administrators. Together, they set the application requirements for registration, prescribe the form of the registration certificate, and establish the process for cancelling registration or varying registration conditions. The standards take effect on the date of publication in the Gazette. For registration, applicants, their boards and principal officers must file prescribed forms and supporting documents, mainly through the NAMFISA Electronic Regulatory System. The framework requires information on legal form, ownership, key persons, fit and proper status, group structure, related party relationships, risk management and internal controls, as well as supporting evidence such as founding documents, insurance cover and proof of fees. Separate forms apply to companies or entities and to individuals applying as society administrators. Incomplete applications may be rejected, although NAMFISA must first give applicants seven days, or another period it stipulates or agrees, to provide missing information. NAMFISA may also request additional documents or require a personal appearance. For cancellation of registration or variation of registration conditions, a registered administrator must apply in writing, provide the prescribed forms and supporting evidence, and submit proof of the notice published under the Act together with the relevant resolution. Applicants must notify NAMFISA before publishing the notice, and may lodge the application only after NAMFISA has considered any objections received. The standard also requires administrators to explain how they will discharge contractual obligations and other liabilities, and bars them from voluntarily winding up or ceasing administration services without NAMFISA's prior written approval. A separate standard prescribes the certificate NAMFISA will issue upon registration.
Namibia Financial Institutions Supervisory Authority2026-05-08
Namibia Financial Institutions Supervisory Authority issues standards for registration and cancellation processes for fund and society administrators
The Namibia Financial Institutions Supervisory Authority has issued standards governing how fund and society administrators apply for registration, how registration certificates are issued, and how registrations can be cancelled or varied. The measures require detailed governance, ownership, fit and proper, insurance and operational information, with submissions mainly made through NAMFISA's electronic system. Registered administrators seeking to exit or change licence conditions must follow a formal notice and application process and show how liabilities and client obligations will be handled.