Friendly Societies

About

  • Friendly Societies are registered and regulated in terms of the Friendly Societies Act, 1956 (Act No. 25 of 1956) (“the Act”).

    • In terms of the Act, a “friendly society” means:
      1. Any association of persons established for any of the objects specified in section 2 of the Act
      2. Any business carried on under a scheme or arrangement instituted for any of those objects, and includes any central society referred to in section 39, whether or not it is liable to provide any benefits mentioned in section 2, and any central society, association or business as aforesaid which is or may become liable for any such benefits, whether or not it continues to admit or to collect contributions from members

  • In terms of section 2(1) of the Act, a friendly society may, subject to the provisions of section 2(2), be established for one or more of the following objects, namely:
    1. The relief or maintenance during minority, old age, widowhood, sickness, or other infirmity, whether bodily or mental, of members or their husbands, wives, widows, widowers, children or other relatives or dependants
    2. The granting of annuities, whether immediate or deferred, to members or to nominees of members, or the endowment of members or nominees of members
    3. [paragraph (c) deleted by Act 43 of 1975]
    4. The insurance of a sum of money to be paid or other benefit to be provided:
      • On the birth of a member’s child
      • An the death of a member or any other person mentioned in paragraph (a) or in the form of an endowment insurance on the life of a member or such a person
      • Towards the expenses in connection with the death or funeral of any member or any such person
      • During a period of confined mourning by a member or such a person
    5. The insurance against fire or other contingencies of the implements of the trade or calling of any member
    6. The provision of a sum of money on a member’s leaving the service of his employer owing to dismissal, resignation or otherwise, unless in the opinion of the registrar the principal object is the provision of a sum of money on a member’s leaving such service because of marriage or intended marriage
    7. The relief or maintenance of members, or any group of members, when unemployed or in distressed circumstances otherwise than in consequence of the existence of a strike or lockout as defined in section one of the Industrial Conciliation Act, 1956 (Act No. 28 of 1956)
    8. The provision of sums of money for the advancement of the education or training of members or of the children of members
    9. Such other business as the Governor-General may by proclamation in the Gazette declare to be business in respect of which a friendly society may be established

  • Section 2(2) of the Act states that, no association or business shall be regarded as a friendly society:
    1. if none of the persons entitled to the benefits specified in sub-section (1) contributes to such association or business
    2. if any of its activities fall within the objects of a pension fund organization as set out in paragraph (a) or (b) of the definition of “pension fund organization” in section one of the Pension Funds Act, 1956
    3. if in terms of its rules each member is entitled at all times to withdraw the full amount of his contributions, subject to such notice as may be prescribed in its rules
    4. if the benefits mentioned in sub-section (1) are provided exclusively by way of loans which in terms of its rules must be repaid
Application Process

Registration Process

  • To submit any applications to NAMFISA, an applicant must:
    1. Apply to create a profile on NAMFISA Online
    2. Apply to reserve the proposed entity name
  • Complete the Application for Registration Form on NAMFISA Online (ERS)
  • Once the applicant’s profile has been created, they will be granted access to an Application for Registration Form on NAMFISA Online (ERS).

    This online form must be fully completed and submitted.

    NB: If submitted successfully, the status of the form will change to “pending approval”.
  • Submit the hard copy application form and all the supporting documents to NAMFISA
  • Once the Applicant for Registration Form is successfully submitted on NAMFISA Online (ERS), the applicant must submit the hard copy application form and all the supporting documents to NAMFISA.

Application Requirements

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The application form (Form FS1) should be accompanied by the documents listed in section 3 of the application form.
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Online Form
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The Application Form (Form FS1) should be accompanied by the documents listed in section 3 of the application form.

Separate copies of the Legal Persons LP Fit and Proper FAP Statement must be submitted on behalf of the applicant, and every corporate entity or trust:

  1. Controlling the applicant (including joint control)
  2. Directly or indirectly holding 20% or more of the ownership interest or voting rights in the applicant

The statement must be completed by an authorised representative of the legal person.

The statement must be initialled on every page and signed in the presence of an independent Commissioner of Oaths (or a Notary Public, if signed outside Namibia), together with certified supporting documents evidencing all information provided in the statement, including:

  1. If the entity is a corporate entity or trust – original certified copies of the entity’s Certificate of Incorporation, Memorandum of Association and Articles of Association or Founding Statement or Trust Deed and/or any other instrument constituting or defining the constitution of the entity/trust
  2. Original certified copies of documents disclosing and providing Proof of the Source of Funds that will be used as the start-up capital or to otherwise fund the applicant

The Natural Persons NP Fit and Proper FAP Statement is to be completed by all natural persons:

  1. Directly or indirectly holding 20% or more of the ownership interest in the applicant
  2. Directly or indirectly controlling the applicant
  3. Appointed/proposed to be appointed as a director, member of the management committee or principal officer of the applicant
  4. Appointed as a director or trustee of any entity directly or indirectly holding 20% of more of the ownership interest in the applicant
  5. Who are trust beneficiaries of any trust directly or indirectly holding 20% of more of the ownership interest in the applicant

The statement must be initialled on every page and signed in the presence of an independent Commissioner of Oaths (or a Notary Public, if signed outside Namibia), together with certified supporting documents evidencing all information provided in the statement, including the person’s:

  1. Up-to-date Curriculum Vitae
  2. Original certified copy of Identity Document/Passport
  3. Original certified copy(s) of Certificate(s) of Conduct (not older than 12 months). The Certificate(s) of Conduct must be from all jurisdictions the person lived in the past 10 years
  4. Original certified copies of Academic Qualifications
  5. Original certified copies of Reference Letters or Certificates/Letters of Service
  6. Signed Declaration of Interests

In terms of the Financial Intelligence Act, 2012 (Act No. 13 of 2012) (FIA), NAMFISA has an obligation to supervise, monitor, and enforce compliance with the provisions of FIA in respect of all Accountable Institutions (AIs) supervised by it.

In light of the above and in addition to the submission of the LP & NP FAP Requirements Forms and Proof of Source of Funds (and the supporting documents), the following should be complied with when applying for registration:

  1. Compliance Officer Appointment: Appoint a Compliance Officer, who will act as the primary point of contact for all regulatory and anti-money laundering compliance matters;
  2. Financial Intelligence Center (FIC) Registration Form: Complete and submit the Financial Intelligence Centre (FIC) Registration Form as part of the application for registration;
  3. FIA Compliance Program: Submit a FIA Compliance Program as part of the application for registration, ensuring alignment with the latest guidelines.
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    A friendly society may not change the name under which it is registered without the prior written consent of the Registrar.

    Requirements:

    1. Letter notifying NAMFISA of the change
    2. Management Committee/Board resolution approving the name change
    3. Rule amendment
    4. Effect the change on NAMFISA Online (ERS) by completing and submitting a “Change Society Name” Form
    5. Submit the hard copy application form and all the supporting documents to NAMFISA Reception, Upper Ground Floor, 51 -55 Werner List Street, Gutenberg Plaza, Windhoek or email it to licensing@namfisa.com.na
    6. Return of original licence in old name upon collection of new licence (if the original licence has been lost, a police declaration to that effect must be submitted)

    Every friendly society shall have a registered office and must inform NAMFISA should the address of its registered office change.

    Requirements:

    1. Letter notifying NAMFISA of the change
    2. Effect the change on NAMFISA Online (ERS) by completing and submitting a “Change Society Details” Form
    3. Submit the hard copy application form and all the supporting documents to NAMFISA Reception, Upper Ground Floor, 51 -55 Werner List Street, Gutenberg Plaza, Windhoek or email it to licensing@namfisa.com.na

    A friendly society must inform NAMFISA should its contact details or that of its board or management committee members, principal officer or auditor change.

    Requirements:

    1. Letter notifying NAMFISA of the change
    2. Effect the change on NAMFISA Online (ERS) by completing and submitting a “Change Society Details” Form
    3. Submit the hard copy application form and all the supporting documents to NAMFISA Reception, Upper Ground Floor, 51 -55 Werner List Street, Gutenberg Plaza, Windhoek or email it to licensing@namfisa.com.na

    Requirements:

    1. Letter notifying NAMFISA of the change
    2. Effect the change on NAMFISA Online (ERS) by completing and submitting a “Change Society Details” Form
    3. Submit the hard copy application form and all the supporting documents to NAMFISA Reception, Upper Ground Floor, 51 -55 Werner List Street, Gutenberg Plaza, Windhoek or email it to licensing@namfisa.com.na

    Whenever a registered society has appointed a new principal officer, the person managing the business of the society shall within 30 days as from such appointment give notice thereof in writing to the registrar.

    See section 10 of the Friendly Societies Act.

    Requirements:

    1. Letter notifying NAMFISA of the change
    2. Natural Persons NP Fit and Proper FAP Statement initialled on every page and signed in the presence of an independent Commissioner of Oaths (or a Notary Public, if signed outside Namibia)
    3. Up-to-date Curriculum Vitae
    4. Original certified copies of Identity Document/Passport
    5. Original certified copy of the Certificate(s) of Conduct (not older than 12 months). The Certificate(s) of Conduct must be from all jurisdictions a person lived in the past 10 years
    6. Original certified copies of the Academic Qualifications
    7. Original certified copies of Reference Letters or Certificates/Letters of Service
    8. Signed Declaration of Interests
    9. Effect the change on NAMFISA Online (ERS) by completing and submitting a “Change Society Details” Form where the above-mentioned documentation must be uploaded
    10. Submit the hard copy application form and all the supporting documents to NAMFISA Reception, Upper Ground Floor, 51 -55 Werner List Street, Gutenberg Plaza, Windhoek or email it to licensing@namfisa.com.na

    A friendly society must inform NAMFISA of every appointment or resignation of a member of its board/management committee.

    Requirements:

    1. Letter notifying NAMFISA of the change
    2. Natural Persons NP Fit and Proper FAP Statement initialled on every page and signed in the presence of an independent Commissioner of Oaths (or a Notary Public, if signed outside Namibia)
    3. Up-to-date Curriculum Vitae
    4. Original certified copies of Identity Document/Passport
    5. Original certified copy of the Certificate(s) of Conduct (not older than 12 months). The Certificate(s) of Conduct must be from all jurisdictions a person lived in the past 10 years
    6. Original certified copies of Academic Qualifications
    7. Original certified copies of Reference Letters or Certificates/Letters of Service
    8. Signed Declaration of Interests
    9. Effect the change on NAMFISA Online (ERS) by completing and submitting a “Add/Remove/Update Director” Form where the above-mentioned documentation must be uploaded
    10. Submit the hard copy application and all the supporting documents to NAMFISA Reception, Upper Ground Floor, 51 -55 Werner List Street, Gutenberg Plaza, Windhoek or email it to licensing@namfisa.com.na

    A registered friendly society must inform NAMFISA of the appointment or resignation of its auditor.

    Requirements:

    1. Letter notifying NAMFISA of the change
    2. Letter from new auditor accepting the appointment
    3. Original certified copy of the valid Good Standing letter of the new auditors from the Public Accountants’ and Auditors’ Board (PAAB)
    4. Effect the change on NAMFISA Online (ERS) by completing and submitting a “Change Society Details” Form
    5. Submit the hard copy application and all the supporting documents to NAMFISA Reception, Upper Ground Floor, 51 -55 Werner List Street, Gutenberg Plaza, Windhoek or email it to licensing@namfisa.com.na
    • See section 37 of the Friendly Societies Act regarding the voluntary or automatic dissolution of a friendly society.
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