The Namibia Financial Institutions Supervisory Authority has published the Namibia Financial Sector Transformation Strategy 2025–2035, setting out a national roadmap to deepen financial markets, accelerate digital transformation, expand access and consumer protection, advance financial sector localisation, and build skills and capacity across the financial system. The strategy is structured around five pillars with nine strategic focus areas, spanning capital markets development, sustainable finance, modernised financial infrastructure, digitalisation of financial services and supervision, access to finance for individuals and micro, small and medium enterprises (MSMEs), financial literacy, consumer protection, localisation, and workforce development. Key 2035 targets include a 95% national financial inclusion rate and 75% for the rural population, an increase in financial literacy to 85% and national digital financial literacy to 70%, and a 70% MSME financing success-rate target. Digital and market-development milestones include a RegTech and SupTech framework for the financial sector by 2025, collaboration on regulatory sandboxes by 2025, an 80% increase in digital transactions (especially in rural areas) by 2035, at least five new financial instruments introduced yearly, and capital market targets including a 70% increase in registered domestic and foreign investors and a 75% increase in new listings or assets under management by 2035. Implementation is to be coordinated under the Ministry of Finance, with an Implementing Committee comprising the Executive Director of the Ministry of Finance, the Deputy Governor of the Bank of Namibia, and the Deputy Chief Executive Officer for Prudential Supervision at NAMFISA. Working groups will support delivery, with progress overseen through the Financial Sector Council Advisory Body and escalated through the Financial Sector Council to Cabinet for necessary approvals.
Namibia Financial Institutions Supervisory Authority 2025-09-02
Namibia Financial Institutions Supervisory Authority publishes 2025–2035 financial sector transformation strategy with a 95% financial inclusion target
The Namibia Financial Institutions Supervisory Authority released the Namibia Financial Sector Transformation Strategy 2025–2035, outlining a roadmap to enhance financial markets, digital transformation, and consumer protection. It targets a 95% national financial inclusion rate, 85% financial literacy, and significant increases in digital transactions and market development by 2035. Implementation will be coordinated by the Ministry of Finance, with oversight from the Financial Sector Council Advisory Body.