Regulatory AlertsNamibia: lending & credit regulation
Partially regulatedNAMFISA oversees credit via Microlending Act 2018; Consumer Credit Bill pending
- Lead regulator
- Namibia Financial Institutions Supervisory Authority (NAMFISA)
- Also involved
- Bank of Namibia (banking institutions) · NFIU (AML)
- Core law
- Microlending Act, 2018
- Entry capital
- N$ 1m (Microlending)
- Approval timeline
- —
- Customer assets
- —
- Data protection
- POPIA 2013 · Information Commissioner
- Sandbox
- No
The credit market is currently governed by the Microlending Act, 2018, enforced by NAMFISA. A comprehensive Consumer Credit Bill (CCB) has been finalized and submitted to the Minister of Finance (2025-10) to consolidate the framework, but it is not yet in force. Until the CCB is enacted, the Microlending Act applies to smaller credit providers, while larger entities may fall under banking or common law.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Consumer lending | LicenceMicrolending Licence Applies to credit providers under Microlending Act 2018 | N$ 1m | — | NAMFISA |
| SME / commercial lending | LicenceBanking Institution Licence Requires banking licence if engaging in deposit-taking | N$ 22.5m | — | Bank of Namibia |
| Microfinance | LicenceMicrofinance Banking Institution Licence Specific capital threshold for microfinance banking institutions | N$ 22.5m | — | Bank of Namibia |
| Buy-now-pay-later | Uncertainverify with regulator Unclear if covered by Microlending Act or common law | — | — | — |
| P2P lending platform | Uncertainverify with regulator No specific P2P regime identified in source documents | — | — | — |
| Credit bureau / scoring | Uncertain CCB draft mentions bureaus, but law not yet in force | — | — | — |
| Debt collection | Uncertain CCB draft mentions debt collectors, but law not yet in force | — | — | — |
New — what changed recently
- 2025-10-31Consumer Credit Bill (Final Draft) — Final draft submitted to Minister of Finance to consolidate credit framework and establish dedicated regulator.
- 2024-08-20Microfinance Banking Institutions Determination — Established N$22.5m minimum core capital for microfinance banking institutions.
- 2024-04-05Asset Classification Determination (BID-2) — Standardized asset classification and loan loss provisioning for banking institutions.
Market-entry checklist
- 1Register with NAMFISAApply for a microlending licence under the Microlending Act 2018 if not a bank.
- 2Secure N$1m CapitalEnsure minimum capital of N$1m is maintained for microlending operations.
- 3Monitor CCB EnactmentTrack the Consumer Credit Bill status for new registration requirements.
- 4Comply with Usury ActAdhere to maximum finance charge rates under the Usury Act 73 of 1968.