26
Mar
Thomas Nashongo The Financial Institutions and Markets Act (FIMA) is a Namibian financial regulation law designed to strengthen oversight of financial institutions, protect clients, and encourage transparency. FIMA was gazetted in 2021 to replace the Pension Fund Act of 1956 it was put on hold owing to public concerns, and is now being evaluated for re-tabling in Parliament. The FIMA act was scheduled to be enacted on 01 October but subsequently faced societal criticism leading to its postponement. The lack of consultation during the drafting phase also stems as a flaw in the act. The Act contains a pension preservation…