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Financial Institution Risk Management in Namibia: A Study on Educational Institutions’ Strategies

A recent study has shed light on the financial risks faced by educational institutions in Namibia, with a focus on the Namibia Business School’s (NBS) risk management practices.

Research Objectives

The research aimed to investigate the nature and extent of credit and liquidity risks faced by NBS between 2009 and 2011, and identify an effective strategy for ensuring the institution’s competitiveness and sustainability.

Methodology

The study employed a case study approach combining interviews and surveys.

Findings

According to the study, NBS has been struggling to collect revenue and has adopted risk management policies from the University of Namibia (UNAM). The research found that by developing and implementing a formal and integrated risk management framework, an institution can gain a dynamic tool for identifying and managing risk exposures.

Recommendations

However, the study also highlights the need for a more customized approach, including:

• Reviewing governance structures
• Introducing risk procedures
• Developing methodology manuals
• Fostering a risk awareness culture among staff

This tailored strategy is likely to yield better results than a broader framework.

Implications

The findings of this research have significant implications for financial institution risk management in Namibia, emphasizing the importance of developing effective risk management strategies to mitigate potential threats to an institution’s financial stability and sustainability.