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The Namibia Estate Agents Board (NEAB) proudly participated in the Ongwediva Annual Trade Fair (OATF) from 23rd to 31st August 2024. As Namibia’s premier multi-sectoral trade and exhibition platform, the OATF brings together diverse economic sectors, offering a unique opportunity for business networking and collaboration. This year, NEAB was honored by the visit of Hon. Lucia Iipumbu , Minister of Trade and Industrialisation, to our stand. Her presence underscored the importance of the real estate sector in Namibia's economic development and provided valuable insights into the government's efforts to enhance trade and industrialization. Held at the modern Ongwediva Trade Fair Centre, the event provided an ideal environment for connecting with key stakeholders and exploring new opportunities. NEAB’s participation was a success, strengthening our commitment to promoting growth and professionalism in Namibia’s real estate industry. We thank the OATF organizers and everyone who visited our stand, and we look forward to future participation in this exceptional event. #NEAB #OATF2024 #NamibiaRealEstate #TradeFair

Heroes Day Message from the Namibia Estate Agents Board On this Heroes Day (26 August 2024), we pause to honor the remarkable individuals whose courage, sacrifice, and dedication have shaped our nation. Their legacy inspires us every day to build a brighter, more prosperous future for all Namibians. At the Namibia Estate Agents Board, we stand united in celebrating the heroes who have paved the way for our independence and freedom. Their unwavering commitment to justice and equality is the foundation upon which we continue to build our communities and our nation. As we commemorate this day, let us remember that each of us has a role to play in carrying forward their vision of a Namibia that is strong, united, and thriving. Together, we can honor their memory by striving for excellence, integrity, and compassion in all that we do. Happy Heroes Day, Namibia! The Board of Namibia Estate Agents Board (NEAB)

We're excited to be part of Namibia's leading trade and exhibition event, where tradition meets innovation. Come visit our stall for all of your real estate enquiries. Don’t miss out on the chance to connect, learn, and grow with us at OATF 2024! #OATF2024 #TradeFair #InnovationMeetsTradition #NEABEvents #NamibiaBusiness #SupportLocal

Happy 83rd Birthday, His Excellency, President Dr. Nangolo Mumba! The Board of Namibia Estate Agents Board extends our heartfelt wishes to you on this special day. Your leadership and dedication continue to inspire us all. May your year ahead be filled with good health, joy, and prosperity. Warm regards, The Board of Namibia Estate Agents Board

NEAB is excited to be part of the Zambezi Bream Festival and Cultural Expo from 04 - 10 August 2024 in Katima Mulilo. This event is a vibrant celebration of the rich cultural heritage and traditions of the Zambezi region. This festival is not only a fantastic opportunity to enjoy delicious local food, particularly the famed Zambezi bream, but also a chance to support and connect with local businesses and artisans. The festival is a showcase of the region's diverse cultures, offering visitors a unique experience filled with music, dance, art, and traditional crafts. NEAB is proud to participate in such a meaningful event that brings communities together and highlights the beauty of our shared heritage. Join us at the Zambezi Bream Cultural Festival to celebrate and explore the rich traditions that make the Zambezi region so special. We look forward to seeing you there! #NEABEvents #ZambeziBreamFestival #CulturalExpo

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 August 2024 - Online registration closes: 20th September 2024 - Online examination date: 28th September 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 (Exam Registration & Study Material): 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

On Friday, 19 July 2024, the Namibia Estate Agents Board (NEAB) hosted an Induction Training Workshop for candidates who recently passed the Principles of Real Estate examination. Held at the Gateway Conference Centre, this workshop aimed to equip future estate agents with essential knowledge and skills for the real estate industry. The workshop featured collaborations with prominent industry stakeholders, including First National Bank Namibia (FNB), Financial Intelligence Centre (FIC), City of Windhoek (COW), Business and Intellectual Property Authority (BIPA) and Public Accountants and Auditors Board (PAAB), who shared their expert insights. The NEAB is committed to supporting the continuous professional development of new agents through future training sessions and events. Congratulations to all candidates who completed the induction training, and welcome to the new generation of Namibia estate agents. #NEABInduction2024 #NamibiaRealEstate #FutureAgents #RealEstateTraining

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.

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

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

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

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.