FIS faces closure THE Namibia Financial Institutions - TopicsExpress

FIS faces closure THE Namibia Financial Institutions Supervisory Authority (Namfisa) has decided to revoke FIS Life Assurance Company’s trading licence, after a tiff which has lasted nearly a decade. Adding to FIS’s woes is a decision by the Ministry of Defence to discontinue its relationship with the company, which has provided its members with insurance cover since 2004. This means FIS, the only wholly owned Namibian company with a black majority shareholding, will lose more than N$20 million annually in revenue... Read more: namibian.na/indexx.php?id=13838&page_type=story_detail&category_id=1

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