Namibia recovered millions for consumers amid rising complaints
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The Namibia Financial Institutions Supervisory Authority (NAMFISA) secured N$4.4 million for 81 consumers from financial institutions in 2025.
Complaints continued to surface regarding insurance claims, funeral benefits, and interest on micro-loans. NAMFISA resolved 93% of the 403 complaints it received during the year, with the remaining 7% continuing into 2026. Long-term insurance generated the most complaints with 149 cases, followed by short-term insurance with 106 and micro-lenders with 84.
Long-term insurance also led in the amount of money recovered, returning N$2.1 million to complainants, while pension funds accounted for N$1.1 million. Consumers primarily complained about delayed or rejected insurance claims, high or incorrect interest charges, and unsatisfactory service. NAMFISA noted that the increase in complaints originated mainly from the short-term insurance, long-term insurance, and micro-lending sectors.
