NAMFISA dedicates October to educate consumers on financial activities

The Namibia Financial Institutions Supervisory Authority (NAMFISA) has designated October as Consumer Protection Month, aimed at educating consumers about their financial rights and obligations. This initiative provides a valuable platform to highlight the critical importance of protecting and upholding consumer rights, shielding them from market misconduct, and ensuring they are informed about their responsibilities when engaging with financial institutions.

The nationwide Consumer Protection Month celebration will include shopping mall activations and workplace forums at public entities, educational institutions and government ministries’. Through these events, NAMFISA seeks to raise awareness about financial rights and protection, while also connecting with corporate and government organizations to enhance financial literacy among Namibian consumers.

“During the Consumer Protection Month, we encourage consumers to educate and equip themselves with the knowledge needed to make informed financial decisions. Understanding your rights as a consumer is the first step toward financial empowerment, while demanding transparency and insisting on clear and comprehensive information about financial products and services. Always ask questions and seek clarification to ensure that you are making the best choices for your financial future” says Mr. Kenneth S. Matomola, NAMFISA CEO.

Matomola urges consumers to protect their data by safeguarding their personal and financial information while being vigilant against fraud, identity theft, and scams that can compromise their financial security. The Consumer Protection Month is a reminder that you, as a consumer, have rights that deserve protection. Your financial well -being is an integral part of your life, and it should be treated with the utmost care and respect. Join us this October in celebrating Consumer Protection Month by taking steps to secure your financial future, advocating for consumer rights, and promoting financial literacy within your community. “Together, we can build a more transparent, fair, and secure financial landscape for all,” says Matomola

Consumers are invited to visit NAMFISA’s Mobile Office at the Windhoek Industrial and Agricultural Show and shopping malls. NAMFISA is eager to seize the opportunity to showcase its commitment to maintaining a safe, stable, and fair financial system in Namibia. Consumers will be able to access valuable information about their financial rights, the complaint procedures, and how to address concerns with entities that fail to uphold the principles of treating customers fairly.

NAMFISA strongly encourages consumers to regularly visit the NAMFISA website and official social media channels for accurate, dependable, and informative content.