Regulatory Alerts2002-11-14
Added · Updated
Explanatory Memorandum – Namibian Assets (Regulations 15 (4) of Notice No.145 June 1998 and Regulation 28 (5) of Notice No. 143 of June 1994)
Long-Term Insurers and Pension Funds must invest at least 35% of their assets in securities classified as Namibian Assets. The Registrar of Financial Institutions grants this status to dual-listed companies on the NSX that meet specific criteria, including significant capital investment, substantial local business operations, and Namibian management employment. Approved entities must submit documentation such as certificates of incorporation and details of shareholder directorship to obtain a letter of approval. Dual-listed securities of approved entities must be acquired through a local registered broker on the NSX.
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