The Namibia Financial Institutions Supervisory Authority (Namfisa) has started accepting applications from interested innovators in the micro-lending sector who have business-to-business or business-to-consumer solutions.
Interested innovators are encouraged to visit the regulator’s website where they can find all the relevant application information and documentation outlined in the attached application process
This is part of its Regulatory Sandbox (Sandbox) programme that was launched during the FinTech Square 2023 on 10 May in Windhoek.
The primary objectives of the Sandbox are to promote innovation in digital and non-digital financial services, as well as to enhance financial inclusion.
It provides a controlled environment under the supervision of Namfisa, allowing for live tests of innovative products, services, or solutions within specific parameters.
Within the Sandbox, these live tests are conducted on a limited scale to ensure consumer protection and fairness.
Additionally, they assist in identifying, assessing and mitigating any potential risks that may arise during the testing phase.
The Sandbox also serves as an evidence-based tool that encourages innovation and financial inclusion within the non-bank financial sector of Namibia, ultimately contributing to the nation’s efforts in creating a dynamic, secure and supportive financial sector.
