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RFS celebrates 27 years of building local retirement fund capacity
RFS Fund Administrators recently hosted a stakeholder function to mark 27 years since the company’s incorporation and to acknowledge the continued confidence and support of its clients, regulators, business partners, members and the broader Namibian business community.
On this occasion, our managing director, Marthinuz Fabianus, reflected on RFS’s journey. He highlighted its humble beginnings, with Westair Aviation as its first client, followed by its appointment as administrator of the Cymot Pension Fund in 2000. Today, RFS administers retirement arrangements for more than 45,000 members, with assets exceeding N$40 billion under administration. He emphasised that these figures represent more than growth. Behind every member and every asset is an individual, a family and a retirement expectation, reinforcing the significant responsibility that comes with administering people’s retirement savings. Over the past 27 years, RFS has built a strong presence across key sectors of the Namibian economy, including the public sector, financial services, private enterprise and non-governmental organisations. This has enabled the company to develop substantial local expertise and institutional capacity. Marthinuz noted that being a local organisation alone is not sufficient. Local capability must be supported by sound governance, resilience, technology, skilled people and the ability to compete on merit. The company continues to invest in these areas while adapting to regulatory and technological changes within the retirement fund industry. He highlighted Benchmark Retirement Fund's growth as an example of this progress. Between 2015 and 2025, Benchmark grew from approximately 9,000 to 21,000 members, from 54 to 160 participating employers, and from N$1.6 billion to N$11.5 billion in assets. He attributed this growth mainly to the confidence employers and members place in the fund and RFS. Looking ahead, He noted that the retirement fund environment is evolving, particularly with the increasing adoption of umbrella arrangements. The company has been preparing for this shift and is strengthening its capacity to meet employers' and members' changing needs. A significant development will take effect from 1 October 2026, when RFS assumes administration of Momentum Metropolitan’s sponsored FundsAtWork Namibia umbrella pension and provident funds. Marthinuz described the appointment as both a significant responsibility and an important vote of confidence in RFS’ capabilities. He reiterated its commitment to managing the transition while maintaining the service standards expected by its existing clients. RFS is also expanding its operational footprint. Its staff complement will exceed 100 employees, while a new client service office in Swakopmund has been opened to provide enhanced support to clients along the coast. He further acknowledged the introduction of the Financial Institutions and Markets Act (FIMA) as an important development for Namibia’s financial services industry. RFS is preparing for the increased regulatory and governance requirements under the new regime through continued investment in compliance, risk management and operational resilience. In addition to its core fund administration business, RFS expanded its offering by establishing RFS Financial Advisors in 2024. The new business was created to respond more directly to the financial needs of individual members and the investing public. Marthinuz expressed his confidence in the business's progress and the recognition that its financial intermediaries are already receiving in the market. Reflecting on the company’s 27-year journey, he acknowledged the importance of its founder, Tilman Friedrich, in establishing a strong foundation. He noted that its reputation has been built gradually, through consistent service to individual clients and members, and through its ability to navigate periods of significant change. While industry recognition, including successive PMR Diamond Arrow awards, has been welcomed, he stressed that its greatest measure of success remains its clients' continued confidence. Marthinuz also used the occasion to encourage continued support for local capacity. He emphasised that this appeal was not based simply on being Namibian, but on local organisations' ability to develop sustainable expertise and deliver services that meet the expectations of sophisticated clients and an evolving regulatory environment. According to him, supporting local institutions contributes to the development of Namibian talent, investment in technology, the growth of specialist expertise and the establishment of institutions capable of contributing to Namibia’s economy for generations to come. He acknowledged, however, that local support must be earned through performance and that RFS does not take its clients’ loyalty for granted. Its ambition remains to be a trusted, capable and proudly Namibian partner to its clients. The event concluded with him expressing his appreciation to RFS’ clients, regulators, business partners, associates, members and colleagues for their confidence, patience and continued challenge to the organisation to improve. He reaffirmed RFS’ commitment to contributing to the development of Namibia’s retirement fund industry while continuing to build a resilient, well-governed and locally rooted institution for the future. |
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