The National Assembly has passed the Auditor General's office vote with an allocation of N$133 million for the 2026/2027 financial year.
Some MPs however argued that the office requires more finances to capacitate and operate efficiently.
In February 2024, Namibia was greylisted by the Financial Action Task Force (FATF) due to deficiencies in its anti-money laundering/counter-terrorism financing framework.
Namibia has now remediated its strategic deficiencies and will be subjected to an onsite assessment by the Africa Joint Group.
The Namibia Students Financial Assistance Fund (NSFAF) holds a financial asset in student loans of N$10.3 billion for the financial year that ended on 31 March 2024.
However, the auditor general's latest report on the accounts of NSFAF raised concerns over poor loan recovery management.
