Namibia’s only active friendly society remained financially stable during the first quarter of 2026 despite paying out more funeral claims a year earlier.
According to the latest quarterly report by the Namibia Financial Institutions Supervisory Authority (Namfisa), the industry, which consists of a single friendly society providing funeral benefits, ended the quarter with a net surplus and enough liquid assets to meet all of its financial obligations.
“The industry held sufficient liquid investments to settle its liabilities at the end of the quarter and it was considered financially sound as at 31 March,” Namfisa says in its quarterly report.
The society’s total assets increased by 2.6% during the quarter and 9.3% compared to the same period last year, reaching N$3.2 million.
At the same time, liabilities rose to N$108 244 at the end of March from N$72 852 recorded three months earlier.
Despite the increase, the industry’s assets continued to comfortably exceed its liabilities.
Namfisa says the industry maintained all of its investments in domestic money market funds, with the total investment portfolio growing to N$3.0 million.
“The growth in investments was influenced by the reinvestment of investment income, which amounted to N$43 574,” the regulator says.
Member contributions also continued to outpace claims.
Contributions received during the quarter rose by 3.4% from the previous quarter and 11.9% year on year to N$56 992.
Although contribution income has fluctuated over the past 13 quarters, Namfisa said that it has consistently exceeded claims expenditure.
The industry paid funeral claims worth N$44 500 during the quarter, compared with no claims paid in the previous quarter.
The payout was also significantly higher than the N$17 000 paid during the corresponding quarter in 2025.
Despite the increase in claims, Namfisa says the industry’s financial position remained strong, supported by steady asset growth, rising investments and contributions that continue to exceed benefit payments.
