Nearly 800 complaints received by Namfisa in 2016/17 financial year
07 Sep 2017 19:40pm
WINDHOEK, 07 SEP (NAMPA) - The Namibia Financial Institutions Supervisory Authority (Namfisa) received 796 consumer complaints during the 2016/17 financial year.
Namfisa Chief Executive Officer, Kenneth Matomola said this was 84 more than the previous financial year.
He was speaking at the launch of the authoritys 2017 Annual Report in the capital on Thursday.
Complaints range from non-cancellation of contracts to non-payment of pension benefits and contributions and repudiation of funeral benefits.
From January to December 2016, financial institutions had to reimburse N.dollars 16 million to consumers, Matomola said.
He added that for the period January to March 2017, financial institutions reimbursed about N.dollars 41 million to consumers.
This means Namfisa is doing its job to try and address malpractices in the industry, he said.