Gambling Board of Namibia assumes payment collection duties

The Ministry of Environment, Forestry, and Tourism (MEFT) of Namibia has announced that, effective October 1, 2024, it will no longer accept payments for gambling-related activities. This shift follows the provisions outlined in the Gaming and Entertainment Act of 2018, which designates the Gambling Board of Namibia as the authority responsible for all administrative functions, including payment collection for gambling activities.

In addition, a new determination has been issued under the Financial Intelligence Act of 2012 by the Financial Intelligence Centre (FIC). Published in the Government Gazette on September 27, 2024, and effective as of October 1, 2024, the determination outlines updated transaction identification requirements for casinos, gambling institutions, and other accountable entities.

The threshold for casinos and gambling institutions above which they must verify the identity of clients remains unchanged at N$25,000 but multiple related transactions should be considered as a single transaction when determining whether the identefication threshold has been met.

Gambling in Namibia is regulated primarily by the Gambling Board, established under the Gaming and Entertainment Control Act of 2018, which oversees all gambling activities, including casinos, sports betting, and lotteries.