National Financial Ombud Scheme South Africa (NFO)

The National Financial Ombud Scheme South Africa (NFO) is an independent body that resolves complaints brought by consumers against South African financial institutions for free.

The National Financial Ombud Scheme South Africa (NFO) is an entity of the Ombud Council, which is monitored by the National Treasury under the National Government of South Africa.

The vision of the National Financial Ombud Scheme South Africa is to be globally recognised as a trusted, world-class Ombudsman scheme, that fosters customer confidence in the financial services sector through prompt dispute resolution at no cost to the complainant.

The core values of the National Financial Ombud Scheme South Africa are:

  • Accessibility – The National Financial Ombud Scheme South Africa offers multiple communications channels in all South African official languages, and its services are completely free of charge for consumers
  • Efficiency – NFO is committed to providing prompt, effective dispute resolution services
  • Fairness – The National Financial Ombud Scheme South Africa adopts an equitable approach that balances the rights and responsibilities of consumers and financial services providers
  • Independence – The National Financial Ombud Scheme South Africa impartially assesses each complaint on its facts, and operates without fear or favour
  • Openness – NFO communicates clearly about its operations and achievements, and encourages positive change through sharing lessons learned
  • Transparency – The National Financial Ombud Scheme South Africa provides clarity around the limits of its jurisdiction and the range of outcomes it can deliver

The National Financial Ombud Scheme South Africa (NFO) is an umbrella financial services ombud scheme formed by the amalgamation of four separate previously existing South African ombud schemes: the offices of the Banking Ombud (OBS); the Credit Ombud (CO); the office of the Long-Term Insurance Ombud (OLTI); and the Short-Term Insurance Ombudsman (OSTI).

In June 2021, the World Bank published a report on the role of the financial sector ombud system in South Africa. The report recommended that the overall ombud system and its components be reformed to make it fit for purpose and to adequately address the complexity of the South African financial system.

The OBS; CO; OLTI; and OSTI entered into discussions early in 2020 to explore a voluntary amalgamation. The culmination of the work of the four ombud schemes resulted in the OBS, CO, OLTI and OSTI being replaced by the National Financial Ombud Scheme South Africa (NFO).

The National Financial Ombud Scheme South Africa (NFO) commenced operations on 1 March 2024.

The purpose of the National Financial Ombud Scheme South Africa is to:

  • Resolve financial services complaints fairly, impartially and efficiently
  • Provide a timely, informal and accessible alternative dispute resolution service to financial service providers and their customers
  • Promote financial education amongst consumers and financial institutions

Overseeing Department/Entity

Board Members

  • Mr Darren Beyers
  • Ms Mervyn Burton
  • Mr Haroon Laher
  • Ms Rosemary Lightbody
  • Ms Magauta Mphahlele
  • Ms Viviene Pearson
  • Mr Tefo Raditapole
  • Mr Manie van Schalkwyk
  • Ms Thandiwe Zulu

Contact Details

The contact details of the National Financial Ombud Scheme South Africa (NFO) are listed in the table below.

Physical Address:110 Oxford Road, Houghton Estate, Johannesburg, Gauteng, 2198
Telephone:0860 800 900
WhatsApp:066 473 0157
Email:info@nfosa.co.za
Website:nfosa.co.za