Supreme court finds Namfisa negligent in Prowealth collapse

[PODCAST]

A landmark Supreme Court judgement has shaken Namibia’s financial regulatory system after the court found financial watchdog Namfisa negligent in its oversight of Prowealth Asset Managers.

The company collapsed nearly 20 years ago after misappropriating more than N$75 million in investor funds. The ruling means Namfisa must now reimburse affected investors, many of whom are pensioners who relied on the regulator’s approval of the company.

Labour expert Herbert Jauch speaks to Desert FM to unpack what this decision means for pension security, consumer protection and accountability within Namibia’s regulatory framework.