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The NFO

In only its second year of operation, the National Financial Ombud Scheme (NFO) has channelled an extraordinary R442.9 million back to financial consumers, eclipsing the R328.5 million recovered in its inaugural year.

Case volumes also rose sharply. In 2024 the total cases opened was 35 855, and 2025 it went up to 50 065, marking a 16% increase across the NFO’s three divisions – Banking and Credit; Life Insurance; and Non-life Insurance.

Performance and Growth

Head Ombud and CEO Reana Steyn reported that the NFO opened 50 065 cases and closed 34 277 cases last year.

She added that the NFO continues to strengthen its dispute resolution model to ensure a sustainable, world-class organisation, underpinned by strong governance and stakeholder confidence.

Digital innovation has been central to this constant improvement, with the NFO advancing the use of technology and digital solutions such as Chatbot and WhatsApp platforms to streamline processes and enhance consumer experience.

Steyn says: “Demand for our services has increased, reflecting both growing awareness and the complexity of the financial environment. The NFO responded with improved capacity and consistency in case handling, while maintaining a strong control environment. Investment in digital tools; more staff and improved platforms for lodging complaints; and enhanced accessibility; further strengthened our ability to serve consumers”.

Some Recent Stats

Some stats from the recent NFO annual report:

    • In 2025 around 54% of complaints were opened by men, 45% by women.
    • The majority of complainants fell within the middle-aged categories, with 46-60 years representing 34% and 36-45 years accounting for 27%. Under-25s comprised 2%, while individuals over 70 made up 5%.
    • Consumers in Gauteng submitted the most cases with 41% of the cases opened, Western Cape followed at 18%, KwaZulu-Natal at 15% and the Eastern Cape at 8%.
    • Despite increased demand on the NFO team to respond to correspondence and WhatsApp messages, the organisation answered 109 222 calls, maintaining an 89% call answer rate.

Looking Ahead: Consolidation and Impact

Steyn says that this year (2026) is all about consolidating gains and deepening impact. Operational efficiency will be sharpened further, digital capability expanded, and leadership development together with staff wellness and engagement will remain at the heart of priorities. At the same time, consumer awareness initiatives will broaden their reach, ensuring more South Africans understand their rights and the Ombud’s role.

She says: “We have strengthened governance. We have refined operations. We have invested in our people. Most importantly, we have delivered fair outcomes for consumers…but the journey continues. Each matter resolved reinforces public trust. Each improvement strengthens institutional resilience. Each step forward brings us closer to our vision of a financial sector where fairness is not exceptional but expected”.

It is clear that consumers can have confidence when reaching out to the NFO for assistance in resolving banking, credit, life and non-life insurance complaints.