Namibia warns investors as scams surge
Investment scams are on the rise in Namibia, prompting officials to urge citizens to pause, verify, and think before committing funds. Recent incidents show how quickly deceptive offers spread through phones and online channels, targeting both seasoned and first-time investors.
Fake video sparks alarm
A clip circulated in October 2025 appeared to show President Nandi-Ndaitwah endorsing a lucrative scheme. The video was fake and AI-generated. If fraudsters can fake the Head of State, they can impersonate anyone.
How fraudsters operate
In 2025, Namibians lost N$73.9 million to payment fraud, an increase of N$19 million from the previous year, averaging about N$6 million each month. The Bank of Namibia identified “vishing and phishing” as the chief drivers, where callers impersonate trusted institutions to extract login details.
Under the Namibia Financial Sector Transformation Strategy 2025-2035, the regulator and the Bank of Namibia aim to boost registered investors by 70% and draw more young people, women and small businesses into the market. As mobile access expands, the same channels become fertile ground for deceptive actors.
- Impersonation: con artists copy the faces and voices of celebrities, politicians or banks to market bogus opportunities.
- Fake platforms: polished sites mimic legitimate exchanges, complete with familiar logos and layout.
- Direct contact: messages arrive via WhatsApp groups, SMS or personal chats, urging immediate action.
Steps to protect yourself
First, stop sharing personal data or acting on unsolicited advice posted on social platforms. Pressure to invest quickly is a common red flag. Second, verify the offering by contacting NAMFISA at 061 290 5000 or emailing [email protected]. A quick internet search can also reveal warnings about suspect sites.
If you suspect a scam, halt all payments, alert your bank, and submit a complaint through the regulator’s online complaints form or email [email protected]. Prompt reporting helps protect other investors.
For additional guidance, visit the regulator’s Consumer Education page, which offers resources on recognizing fraudulent schemes and safeguarding personal finances.
