Financial Institutions Markets Act (FIMA)

Martin Endjala The technical committee under the Ministry of Finance is still scrutinising the Financial Institutions Markets Act (FIMA). The Windhoek Observer understands that while public consultations have concluded, the research component is still ongoing, and findings have yet to be presented to the finance minister. During a media engagement last week in Windhoek, Namibia Financial Institution Supervisory Authority’s (Namfisa) chief executive officer, Kenneth Matomola stated that FIMA can only come into effect once the minister gives the green light. “As it stands now, FIMA can only come into force once the minister says, ‘Yes, let’s go and implement,’” he…