Bank of Namibia and NAMIFISA are also currently working on the Consumer Credit Bill which will regulate all consumer credit related issues and consolidate outdated laws regulating credit such as the Credit Agreements Act of 1980 and the Usury Act of 1968. The second issue is Financial Literacy and Capability. 8. The importance of Financial Literacy cannot be overemphasized.
There is a saying that knowledge is power. It is thus important that we empower our consumers of financial services with the knowledge in order for them to make informed financial decisions. The financial literacy of the average Namibian above the age of 16 was 4  calculated as 42.75% in 2013.