CHAMWE KAIRA
Namibia’s Financial Intelligence Centre (FIC) recorded a surplus of N$26.2 million for the financial year ended 31 March 2026, up from N$19.1 million in the previous year, according to its latest annual financial statements.
The increase of N$7.1 million lifted the Centre’s accumulated surplus to N$74.4 million, compared to N$48.1 million a year earlier.
The FIC, which is mandated under the Financial Intelligence Act of 2012 to combat money laundering, terrorist financing and the financing of proliferation activities in collaboration with other law enforcement agencies, also reported growth in its asset base during the year.
Total assets increased by N$28.2 million to N$87.4 million, from N$59.2 million in the 2025 financial year. Total investments also rose slightly to N$4.35 million, compared to N$4.01 million previously.
However, the Centr’’s operating expenses climbed sharply by N$19.1 million to N$84.6 million, up from N$65.5 million in 2025. The FIC attributed the increase mainly to higher staff numbers.
Beyond its financial performance, the Centre said it intensified enforcement activities during the reporting period.
It imposed financial penalties totalling N$19.9 million through 342 administrative sanctions, exceeding its annual target by 2,138%.
The FIC also continued enforcing Namibia’s cross-border cash declaration requirements in collaboration with the Namibian Police (NamPol) and the Namibia Revenue Agency (NamRA).
During the year, it issued one administrative order for the forfeiture of undeclared cash carried by travellers entering or leaving the country.
The forfeited funds comprised US$150 100 (equivalent to N$2.48 million), N$4,083, and €6,520 (equivalent to N$131 834.40).
The Centre noted that its Legal, Policy and Enforcement Division also continued providing company secretarial services to the FIC Board and Council, while supporting the independent Appeal Board.
No matters were referred to the Appeal Board for adjudication during the reporting period.
The FIC said its primary mandate remains the prevention and detection of money laundering, terrorist financing and proliferation financing through collaboration with domestic law enforcement and regulatory authorities.
