The investment landscape in Namibia is witnessing a significant shift as individuals and institutions increasingly turn to Linked Investment Service Providers (Lisps) to grow their wealth. According to the Namibia Financial Institutions Supervisory Authority (Namfisa), Lisp assets reached N$25.2 billion by the end of June 2026, marking a 4.1% increase from the previous quarter and a substantial 20.7% growth compared to June 2025. This trend indicates a growing preference for investment platforms over traditional banking savings.
Individuals, classified as "natural persons," are leading this charge, holding N$11.7 billion, or 46.5% of all Lisp assets. This significant contribution underscores the crucial role individual investors play in Namibia's investment landscape. Long-term insurers are the second-largest contributors, with N$8.8 billion, representing 35.1% of total assets. Non-governmental organisations, such as churches and trusts, account for another 17.5%, while companies make up a mere 1%.
The growth in the Lisp sector can be attributed to two main factors: increased investments and returns generated from those investments. Namfisa attributes the growth to "investment returns from underlying portfolios, including dividend and interest income, alongside continued client inflows into the diversified investment products offered through Lisps." This suggests that not only are Namibians investing more, but they are also earning substantial returns on their investments.
Unit trusts are the most popular investment vehicle, accounting for 92.2% of all Lisp assets at the end of June. Listed shares make up another 4.6%, while the remaining 3.2% is invested in money market instruments, debt securities, unlisted property, and unlisted shares. This distribution highlights the preference for diversified investment products that offer a range of risk and return profiles.
Despite the growing popularity of Lisps, the market remains heavily concentrated among a few providers. Three providers – Sanlam Namibia, Momentum Wealth Namibia, and Capricorn Asset Management – control more than 90% of the market. Sanlam Namibia holds the largest share at 73.6%, followed by Momentum Wealth Namibia at 11.7%, and Capricorn Asset Management at 7.8%.
The majority of Lisp assets are invested in Namibia and the wider Southern African market. About 48.8% of Lisp assets were invested in Namibian-domiciled investments, while 46.5% was invested in the broader Common Monetary Area, which includes South Africa. Only 4.7% of Lisp assets were invested in international offshore markets, indicating a strong preference for domestic and regional investments.
The growing value of Lisp investments highlights the increasingly important role household savings play in Namibia's economy. As Namibians continue to turn to investment platforms to build wealth, it is likely that Lisps will play a significant role in shaping the country's investment landscape. With regulatory oversight from Namfisa, the sector is expected to continue growing, providing more opportunities for individuals and institutions to invest and grow their wealth.
Key points
- Individuals hold N$11.7 billion in Lisp assets, accounting for 46.5% of total assets.
- Unit trusts account for 92.2% of all Lisp assets.
- Three providers control more than 90% of the Lisp market.
