WINDHOEK: Chief Executive Officer of the Namibia Financial Institutions Supervisory Authority (Namfisa) Phillip Shiimi said the successful implementation of the Namibia Financial Sector Strategy (NFSS) is necessitated by the socio-economic imperatives of the nation.
Speaking during the launch of the 10-year NFSS (2011-2021) in the capital on Thursday, Shiimi said the need for the NFSS is real in addressing the unacceptable financial imbalances in the society.
He said the motivation to implement the strategy should be inspired by the necessity and compelling noble course to attain Vision 2030.
“Therefore, it is imperative that the 10-year implementation plan is carried out with vigour and determination by all the stakeholders,” said Shiimi.
He added that the NFSS Secretariat which comprises the Ministry of Finance, Bank of Namibia (BoN) and Namfisa, together with representatives from the public and private sectors in their respective capacities as lead and supporting agencies, have already mapped out a detailed 10-year implementation plan.
However, Shiimi said in order to ensure that the strategy is not left to chance, the crafting of a comprehensive monitoring and evaluation framework will be worked out in due course by the core team with the assistance of all relevant stakeholders.
He called for close cooperation and consultation among stakeholders in the successful implementation of the strategy.
The members of the Advisory Body of this Strategy are the Development Bank of Namibia (DBN), Agricultural Bank of Namibia (AgriBank), Namibia Post Ltd (NamPost), Social Security Commission (SSC), Namibia Competition Commission (NCC), Bankers Association of Namibia (BAN), Non-Banking Industry Associations (NBIA), Namibia Consumer Trust (NCT), Namibia Chamber of Commerce and Industry(NCCI), Joint Consultative Council (JCC), Namibia Business Innovation Centre (NBIC), Namibia Development Corporation (NDC) and SME Compete.