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  • Namibia Estate Agents Board at the FNB Estate Agents Information Session - 11 June 2024!

    The Namibia Estate Agents Board (NEAB) recently participated in the First National Bank of Namibia (FNB) Estate Agents Information Session. This event brought together key stakeholders in the real estate industry to discuss regulatory frameworks, industry standards, and best practices. NEAB used this platform to share crucial information about its mandate, powers, and regulations governing estate agents in Namibia. Mandate of the Namibia Estate Agents Board NEAB's primary responsibilities include: Preparation and Administration of NEAB Examinations: Ensuring estate agents meet the necessary qualifications. Issuing Fidelity Fund Certificates (FFCs): Certifying qualifying applicants to legitimize their practice. Education and Training: Providing continuous professional development (CPD) for estate agents. Conducting Disciplinary Hearings: Addressing complaints and enforcing compliance. Ensuring Compliance: Monitoring adherence to the Act and regulations. Increasing Stakeholder Awareness: Promoting understanding of industry standards and practices. Managing the Fidelity Fund: Overseeing the fund that protects clients from financial loss due to agent misconduct. Regulatory Role in FIA Reporting: Monitoring and reporting on money laundering and terrorist funding activities. Powers of the Board (Section 8) Section 8 of the Estate Agents Act grants NEAB several powers, including the ability to: Appoint Committees: Form groups, with Cabinet approval, that can include non-board members. Advise on Matters: Provide guidance on issues within the board's jurisdiction. Establish a Code of Conduct: Develop and enforce standards for estate agents. Improve Training Standards: Promote better education and service quality among estate agents. Handle Exemption Applications: Process requests for exemption from specific Act provisions. Take Necessary Actions: Perform acts needed to achieve the board’s objectives. Applications for and Issue of Fidelity Fund Certificates (Section 16) Section 16 outlines the process for obtaining a Fidelity Fund Certificate: Application Submission: Estate agents must apply within the prescribed period, including the necessary levy and contribution. Issuance of Certificates: If applicants meet all requirements, NEAB issues a Fidelity Fund Certificate or a registration certificate, valid until December 31 of the application year. Compliance Requirement: Certificates are only issued if all Act provisions are met. Invalid certificates must be returned to the board upon request. Prohibition of Rendering Services in Certain Circumstances (Section 26) Section 26 prohibits estate agents from performing their duties unless: Valid FFCs: They hold a valid Fidelity Fund Certificate, as do all employed estate agents and company directors. Fidelity Insurance: They have adequate fidelity insurance for all employees. Conclusion NEAB’s participation in the FNB Estate Agents Information Session highlights its commitment to maintaining high standards and professionalism in the Namibian real estate sector. By educating estate agents and the public on compliance and ethical practices, NEAB aims to enhance industry credibility and protect consumer interests.

  • The Occasion Of Tabling The Property Practitioners Bill In Parliament, 11 June 2024!

    SPEECH BY HON. LUCIA IIPUMBU, MP MINISTER OF INDUSTRIALISATION AND TRADE ON THE OCCASION OF TABLING THE PROPERTY PRACTITIONERS BILL IN PARLIAMENT DATE: 11 JUNE 2024 WINDHOEK Hon. Prof. Peter H. Katjavivi, Speaker of the National Assembly; Hon. Prof. Loide Kasingo, Deputy Speaker of the National Assembly; Hon. Members of the National Assembly. Good afternoon 1.     I am delighted to address you today, and table the Property Practitioners Bill for your kind consideration and adoption. The Namibian nation has bestowed a huge responsibility on us as lawmakers to ensure that laws that govern our Republic are relevant and consistent with internationally adopted practices. 2.     The Property Practitioners Bill is a new piece of legislation which will repeal the Estate Agents Act 112 of 1976. Its main purpose is to establish the Property Practitioner Regulatory Authority, which will replace the Namibia Estate Agents Board; to regulate the affairs of all property practitioners; to allow for transformation in the property sector and to provide for consumer protection. 3.     The estate agency industry in Namibia has been subject to legislative regulation since 1976, commencing with the Estate Agents Act 112 of 1976, which has seen minor fragmented amendments to date.  There are therefore limitations in the existing legal framework for the effective regulation of the industry. 4.     It is imperative that the legal and institutional framework be tested against current and future needs and comparisons be made with the developments taking place regionally and internationally to establish the relevance and effectiveness of the proposed law. 5.     Other areas of particular interest that are covered under the Property Practitioners Bill are as follows: a)     Widening the scope of agency services within the property industry (Part I) – While it has become evident that the players in the sale or rental agency transactions are no limited to the estate agents, the application of the existing Act is limited to estate agents. The Property Practitioners Bill includes key stakeholders that have a role to play in the property industry y encompassing not only estate agents but also property developers, auctioneers and property managers. b)    Governance structure or the Property Practitioners regulatory Authority (Part 2 and 3) – Part 2 and 3 of the Bill deals with governance and administration of the Property Practitioners Act. Part 2 establishes the statutory body that will be known as the Property Practitioners Regulatory Authority and sets out the duties and functions of the Authority. The Property Practitioners Regulatory Authority will replace the Namibia Estate Agency Board. Part 3 deals with the appointment of the Board to provide high–level oversight of corporate activities and performance.  The board will be appointed as per the provisions dealing with board appointments set out in the Public Enterprises and Governance Act 1 of 2019. c)     Fidelity Fund Certificate (Part 5 and 7) – This part of the Bill is key and a welcomed development as it aims to provide protection to the consumers against theft of money that has been  entrusted to a Property Practitioner. In terms of the Bill, once a Fidelity Fund Certificate is issued to a Property Practitioner and should that Property Practitioner then steal money held in trust, the consumer can claim this money back from the fidelity fund. This part of the Bill also deals with the consequences of a Property Practitioner not having a Fidelity Fund Certificate. The Bill also places an obligation on transferring Attorneys or Conveyances to satisfy themselves whether a Property Practitioner has a valid Fidelity Fund Certificate before conducting and concluding any transaction. Honourable Speaker; Honourable Members 6.     The proposed Property Practitioners Bill is intended to transform the landscape of the property market by establishing an appropriate institutional and legal framework responsive to the current realities. Property practitioners deal with what are often their clients’ most valuable assets and hence the protection of consumers of agency services should be fundamental guiding principle for the regulation and certification of property practitioners. 7.     In addition to the certification of ‘traditional’ estate agents, the Bill has introduced the certification of among others, auctioneers, property developers, and property managers who will collectively be known as property practitioners in order to adequately protect consumers of agency services. 8.     It is worth noting that this piece of legislation is consumer centric and aims to provide protection to the consumer within the property sector. This is needed a welcomed development in light of the progress that the Ministry has made to date pertaining to the consumer protection law. It is imperative that adequate protection should be accorded to consumers when dealing with their most valuable assets – their property and this is a fundamental right that is accorded protection under Article 16 of our Constitution. 9.     With these few remarks, Honorable Speaker, allow me to officially Table and submit the Property Practitioners Bill for your consideration and that of the entire House. I thank you. HON. LUCIA IIPUMBU

  • Participate in the Namibia Estate Agent Board (NEAB) Regional Distribution Survey of 2024

    NEAB Estate Agents Regional Distribution Survey of 2024! Purpose We are conducting this survey to gather insights into the distribution of estate agents across Namibia. Your participation will help us understand the regional dynamics of the real estate market, identify areas with low representation, and determine the factors influencing these trends. Duration and Confidentiality The survey is for all registered and active estate agents in Namibia. It will take approximately 5-10 minutes to complete, and your responses will be kept confidential and used solely to improve regulatory support and professional standards within the industry. Importance of Your Participation Your feedback is crucial in helping us better serve the estate agency community and foster a robust real estate market across Namibia. Your input will directly influence our strategies and policies, ensuring they meet the needs of estate agents in all regions. To participate, click the link below to access the survey. Every response counts and is invaluable in shaping the future of the estate agency profession in Namibia. Survey Link: https://forms.gle/NUPuo1Kf6GG2C4iH9 Thank you for your commitment to excellence in the real estate industry. Warm regards, Festus Unengu Manager: Namibia Estate Agents Board

  • Welcome to the NEAB Services Satisfaction Survey 2024!

    NEAB Services Satisfaction Survey 2024! At the Namibia Estate Agent Board (NEAB), we strive to improve our services continuously. Your feedback is crucial to this process. Our short survey aims to understand your satisfaction with our registration process, communication, training opportunities, and overall service delivery. Why Participate? Your responses will help us: Enhance support and services Improve our registration process Tailor training programs to your needs Strengthen our communication efforts Survey Details The survey is brief and should take only a few minutes to complete. Survey Link Link: https://forms.gle/QDLMouw4obiKjC8H8 Thank you for participating! Warm regards, Festus Unengu Manager: Namibia Estate Agents Board

  • Guidance For Drafting FIA Compliance Program For Accountable And Reporting Institutions

    To ensure effective compliance with the Financial Intelligence Act (FIA), Accountable Institutions (AIs) must develop a comprehensive FIA Compliance Program that aligns with the Act's requirements. This involves conducting a thorough risk assessment to identify and manage risks related to clients, products, services, delivery channels, and geographical areas. The program should include detailed procedures for client identification (KYC), maintaining accurate client records, and conducting ongoing due diligence, particularly for high-risk clients like Politically Exposed Persons (PEPs). Proper record-keeping, reporting of Cash Threshold Reports (CTRs), and suspicious transactions are critical, along with rigorous client screening against sanctions lists. An independent audit function, designated compliance officers, and regular staff training are essential to ensure adherence to the FIA's regulations. Finally, senior management must approve and oversee the program's effective implementation.

  • REGISTER NOW: NEAB Online Estate Agents Examination - June 2024!

    GENERAL NOTICE EXAMINATION IN ACCORDANCE WITH GOVERNMENT NOTICE R1409 OF 1 JULY 1983 (as amended) Please note that the NEAB will conduct examinations in accordance with Government Notice R1409 of 1 July 1983 (as amended). The NEAB ONLINE ESTATE AGENTS’ EXAMINATION details are as follows: - Online registration starts: 01st May 2024 - Online registration closes: 21st June 2024 - Online examination date: 29th June 2024 a. Online Registration Process i. Visit NEAB website (https://www.neab.co.na/) ii. Click on Online Exam Registration b. Examination fees payable are as follows: i. Registration Fee: N$ 1,000.00 ii. Prescribed Study Materials: N$ 1,200.00 Total Costs: N$ 2,200.00 c. Enquiries: i. Telephone Number: 061 – 249 885 ii. Email: supervisor@neab.co.na / admin2@neab.co.na d. Compulsory Induction Training: Compulsory Induction training in line with section 8( c ) of the Estate Agents Act 112 of 1976 will be conducted after passing the examination; Festus Unengu Manager: Namibia Estate Agents Board

  • Empowering the Future: NEAB's 2nd Estate Agents Induction Training, April 2024!

    We are pleased to announce the successful completion of the Namibia Estate Agents Board's (NEAB) second Induction Training Workshop of the year, held on April 26, 2024. This essential workshop, a key event following the Online State Agents examination, is designed to prepare the successful candidates for a successful career in the fast-paced real estate sector. Our aim is to provide these new entrants with the comprehensive knowledge and practical skills necessary to excel from the outset. The workshop featured collaborations with prominent industry stakeholders, including First National Bank Namibia (FNB), Financial Intelligence Centre (FIC), and Public Accountants and Auditors Board (PAAB), who shared their expert insights. The Chairperson of the NEAB Education Committee, Ms. Liberty Ithete, was present to offer valuable advice to the participants. We celebrate the future of real estate in Namibia and invite you to stay connected for further updates on NEAB's initiatives to advance the industry. #NEABInduction2024 #NamibiaRealEstate #FutureAgents #RealEstateTraining

  • ROGUE AGENT NOTICE: Daleen Karsten and Christiaan Thiart

    TO WHOM IT MAY CONCERN It has come to the attention of the Namibia Estate Agents Board that a certain Ms Daleen Karsten with ID number 70021818109 and Mr Christian Albertus Thiart with ID number 65111900489 are advertising property for sale/rent in the Erongo Region. The public is hereby informed that the aforementioned individual is NOT registered with the Namibia Estate Agents Board as required by the Estate Agents Act 112 of 1976, and is therefore doing so illegally. Ms Daleen Karsten was last registered in 2023 and has not registered for the 2024 year. Mr Christian Thiart was last registered in 2023 and has not registered for the 2024 year. The NEAB is in the process of laying criminal charges against the aforementioned Rouge Agent in terms of section 16 read with section 34 of the Estate Agents Act 112 of 1976. The two above rogue agents are trading under the name and style of 4 U properties (that was deregistered in 2022) and are using the following contact details: Daleen Karsten: 0812257443 Chris A. Thiart: 0812257443 Email address: property1.tpi@gmail.com Members of the public are warned not to make use of the services of the above-mentioned Rouge Agent, those that have already used her services are requested to contact the Namibia Estate Agents Board and the Namibian Police respectively. Festus Unengu Manager: Namibia Estate Agents Board

  • ROGUE AGENT NOTICE: Wilhelmina Catharina Grove

    TO WHOM IT MAY CONCERN It has come to the attention of the Namibia Estate Agents Board that a certain Ms Wilhelmina Catharina Grove also known as Karin Nel with ID number 78101900020 is advertising property for sale/rent in the Erongo Region. The public is hereby informed that the aforementioned individual is NOT registered with the Namibia Estate Agents Board as required by the Estate Agents Act 112 of 1976, and is therefore doing so illegally. Wilhelmina Catharina Grove (Karin Nel) was last registered in 2018 and has not registered for the year 2024. The NEAB is in the process of laying criminal charges against the aforementioned Rouge Agent in terms of section 16 read with section 34 of the Estate Agents Act 112 of 1976. The above Rogue Agent is trading under the name and style of Bluefinn Properties and is using the following contact details: Wilhelmina Catharina Grove: 0818627531 Email address: karin.bluefinnprop@gmail.com Members of the public are warned not to make use of the services of the above-mentioned Rouge Agent, those that have already used her services are requested to contact the Namibia Estate Agents Board and the Namibian Police respectively. Festus Unengu Manager: Namibia Estate Agents Board

  • Happy 34th Independence Day!!!

    Happy 34th Independence Day, Namibia! Today, as we celebrate the spirit of freedom and unity that defines our nation, the Namibia Estate Agents Board is proud to stand with every Namibian in commemorating this significant milestone. Independence is not only about the freedom we enjoy but also a reminder of the resilience and determination that have shaped our journey. In the real estate sector, we see the dreams of our forebearers realized with every community built and every home sold, reflecting our nation’s growth and potential. On this day, let us renew our commitment to building a prosperous, inclusive future for all. Let's cherish our achievements and work together towards the bright future that awaits. Here's to continued peace, prosperity, and unity for Namibia. Happy Independence Day! Warm regards, Namibia Estate Agents Board (NEAB)

  • MESSAGE OF CONDOLENCES BY THE GOVERNMENT OF THE REPUBLIC OF NAMIBIA

    The Government of the Republic of Namibia deeply mourns the passing of a distinguished and visionary leader, a national hero, His Excellency Dr. Hage Gottfried Geingob, the third President of the Republic of Namibia. Dr. Geingob devoted his entire life to the liberation of our country and the advancement and prosperity of our beloved nation, leaving an indelible mark on its history. As the Chairperson of the Constituent Assembly, President Geingob played a pivotal role in crafting the Namibian Constitution, underscoring his enduring commitment to democracy and justice. His contributions paved the way for our nation's new era of freedom and equality under the Namibian House. A fearless advocate for economic emancipation and social progression, Dr. Geingob championed policies focused on transparency, accountability, and inclusivity. These initiatives laid the groundwork for a more equitable society, showcasing his unwavering dedication to the well-being of all Namibians and reflecting his profound sense of duty and compassion. Serving as the first Prime Minister of Namibia and subsequently as the 3rd President of the country, Dr. Geingob emerged as a true national hero and a unifying force —leaving no one behind. His leadership during the liberation struggle galvanised a nation - inspiring countless individuals to strive for a brighter future. Today, we honour the life and legacy of President Dr. Hage Geingob, acknowledging his enduring impact that will resonate for generations to come. His indomitable spirit, remarkable achievements and profound dedication to the people of Namibia will forever be etched in our hearts and minds. In this time of grief, the Government of the Republic of Namibia extends its deepest condolences to First Lady Monica Geingos, the children, bereaved extended family and the entire nation. May his legacy serve as a guiding light, inspiring us to continue building a prosperous, united, and inclusive nation. Our thoughts and prayers are with the family and the entire Namibian nation during this period of profound loss. May His Soul Rest in Eternity! Emma Theofelus, MP Minister of Information and Communication Technology

  • NEAB Official Statement on the Passing of His Excellency Dr. Hage Geingob

    Announcement It is with profound sorrow and heavy hearts that the Namibia Estate Agents Board (NEAB) extends its deepest condolences on the passing of His Excellency Dr. Hage Geingob, President of the Republic of Namibia, on 4th February 2024. President Geingob was a beacon of leadership, vision, and unwavering dedication to our nation's development and prosperity. His legacy of peace, unity, and progress will forever be etched in the annals of our history. To the bereaved family, friends, and all who held him dear, we share in your grief and offer you our heartfelt sympathy. May you find solace in remembering his remarkable life and the indelible marks he left on our country and its people. We extend our sincere condolences to the First Lady of Namibia, Mrs. Monica Geingos. Your grace, strength, and support have been pillars of light during his presidency. May you find comfort in the love and respect the nation holds for you and your husband's incomparable service. As we mourn the loss of a great leader, let us also celebrate his life and contributions. We are united in grief but also in gratitude for his enduring contributions to our beloved country. His vision for a prosperous Namibia remains a guiding light for us all. In this moment of national mourning, the NEAB stands in solidarity with the people of Namibia, reflecting on President Geingob's extraordinary life and commitment to our nation's future. Let us honor his memory by continuing to work towards the ideals and dreams he had for Namibia. Rest in peace, His Excellency Dr. Hage Geingob. Your legacy will continue to inspire generations to come. Namibia Estate Agents Board (NEAB)

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