Microlenders Alert: NAMFISA Issues Guidelines and Forms for Registration and Compliance

Regulation of Microlending Industry in Namibia

The Namibian Financial Institutions Supervisory Authority (NAMFISA) has issued a series of guidelines and forms to regulate the microlending industry in Namibia. The move is aimed at ensuring that microlenders comply with the Microlending Act of 2018 and other relevant regulations.

Key Requirements for Registered Microlenders

• Annual Renewal Forms: Registered microlenders are required to submit their annual renewal forms by a specific deadline each year.
• Failure to Comply: Failure to submit the annual renewal form may result in de-registration.

Re-Registration of Microlenders

Microlenders who were previously registered under an exception notice have until September 23, 2019, to re-register with NAMFISA. Guidelines for re-registration have been issued by the authority.

Forms and Templates for Microlenders

NAMFISA has released various forms and templates for microlenders to use in their operations. These include:

• Application Form for Registration as a Microlender
• Loan Agreement Templates
• Anti-Money Laundering (AML) Compliance Program Templates

Publicly Available Lists

The authority has published lists of registered and de-registered microlenders on its website. The lists can be accessed by clicking on the “Generate Registered Microlenders Excel” button.

Important Documents

Below are some key documents related to the guidelines and forms:

• Application for Registration as a Microlender
• Microlending Standard 6 (2023)
• Microlenders Annual Renewal Form (2023)
• Checklist - Microlenders
• NAMFISA ERS Nomination Form

Contact Information

For more information, please contact the Namibian Financial Institutions Supervisory Authority at [insert contact details].