Ockert Jansen discusses the deadline for Namibian businesses in light of deregistration if they fail to comply with beneficial ownership disclosure requirements

[PODCAST]

Friday marked a critical deadline for thousands of businesses in Namibia. According to the Business and Intellectual Property Authority — BIPA — more than 141,000 registered entities are at risk of deregistration if they fail to comply with beneficial ownership disclosure requirements by the end of today.

These requirements, introduced back in July 2023 under amendments to the Companies and Close Corporations Acts, aim to align Namibia with global anti-money laundering standards set by the Financial Action Task Force.

For an update on  this crucial development and its implications for business owners across the country is Ockert Jansen, spokesperson for BIPA.