CHAMWE KAIRA
The Financial Intelligence Centre (FIC) strengthened its financial position during the 2025/26 financial year, with total assets increasing to N$87.4 million as at 31 March 2026, according to its latest annual financial statements.
The FIC’s total assets rose from N$59.2 million in the previous financial year to N$87.4 million, driven largely by a significant increase in amounts receivable from the Bank of Namibia.
Current assets increased to N$76.5 million from N$47.1 million a year earlier. Receivables from the Bank of Namibia accounted for the largest portion of current assets, rising sharply to N$67.5 million from N$40.5 million.
Other receivables also increased substantially to N$3.2 million, compared with N$463,366 in the previous year.
The centre’s investments grew modestly to N$4.35 million from N$4.01 million, while restricted funds received from the Ministry of Finance stood at N$1.52 million, down from N$2.12 million.
Non-current assets declined to N$10.8 million from N$12.1 million. Property and equipment decreased to N$3 million from N$6.8 million, while intangible assets increased to N$4.6 million from N$2.3 million. Leasehold improvements also rose slightly to N$3.23 million.
On the liabilities side, current liabilities increased to N$13 million from N$11.1 million. Employee provisions rose to N$6.39 million from N$4.7 million, while other trade payables increased to N$5.09 million from N$4.24 million. Restricted funds due to the Ministry of Finance amounted to N$1.52 million.
The FIC’s accumulated surplus increased significantly to N$74.4 million at the end of the financial year, up from N$48.1 million in 2025, reflecting the centre’s stronger financial position.
The annual financial statements show that total equity stood at N$74.4 million, matching the accumulated surplus, while total equity and liabilities balanced at N$87.4 million.
The board of directors received total fees of N$535 588 during the reporting period, comprising N$380 565 in retainer fees and N$155 024 in sitting fees.
Board chairperson Adv. Charmaine van der Westhuizen received the highest total remuneration of N$161 616, consisting of N$104 126 in retainer fees and N$57 491 in sitting fees.
Board members Pendukeni Filippus and Hannelie Eksteen each received total fees of N$117 569, made up of N$85 058 in retainer fees and N$32 511 in sitting fees.
Hilya Herman received total fees of N$109 441, including N$85 058 in retainer fees and N$24 383 in sitting fees.
Adv. Dennis Khama received total fees of N$29 392, comprising N$21 265 in retainer fees and N$8 128 in sitting fees. In total, the board’s remuneration for the period amounted to N$535 588.
