Foreign shareholding in "microlender" organisations is limited to 49% of the voting capital.
"Definitions
1. (1) In this Act, unless the context otherwise indicates -[...]
�microlender� means any person who, as a regular feature of the business advertises or conducts the business of advancing loans to borrowers in terms of microlending transactions;[...]
�microlending transaction� means any loan transaction in respect of which -
(a) the loan amount does not exceed the amount of N$100 000 or any such other amount as may be determined by the Minister by notice in the Gazette under subsection (2); and (b) the principal debt, together with the finance charges which is owing by the borrower must be paid to the microlender, whether in instalments or otherwise, within 60 months or any such other period as may be determined by the Minister, by notice in the Gazette under subsection (2), from the date on which the loan amount has been advanced to the borrower, excluding any money lending transaction in terms of which the finance charges do not exceed the annual finance charge rate prescribed by the Registrar in respect of money lending transactions under the Usury Act; 
[...]
Disqualified persons
7. (1) A person may not be registered as a microlender, hold a certificate of registration as a microlender or be appointed or act as a principal officer or branch manager of a microlender if such person - [�]
(b) being a natural person -
(i) is not a Namibian citizen; or (ii) is not lawfully admitted to Namibia for permanent residence, and is not resident in Namibia;
(c) being a corporate entity, is not registered in Namibia in terms of the relevant laws and the majority of the member�s interest or shareholding is not owned by a Namibian citizen or a person lawfully admitted to Namibia for permanent residence;[...]" (Microlending Act 7 of 2018)
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"Part V � LIMITATION OF ENTRY INTO, AND RESIDENCE IN, NAMIBIA PERMANENT RESIDENCE PERMITS, EMPLOYMENT PERMITS, STUDENTS� PERMITS AND VISITORS� ENTRY PERMITS
24. Limitation or entry into, and residence in, Namibia
Subject to the provisions of section 35, no person shall -
(a) enter or reside in Namibia with a view to permanent residence therein, unless such person is in possession of a permanent residence permit issued to him or her in terms of section 26; 
[...]
26. Application for permanent residence permits [...]
(3) The board may authorize the issue of a permit to enter and to be in Namibia for the purpose of permanent residence therein to the applicant and make the authorization subject to any condition the board may deem appropriate: Provided that the board shall not authorize the issue of such a permit unless the applicant satisfies the board that - [...]
(g) he or she is the spouse or dependent child, or a destitute, aged or infirm parent of a person permanently resident in Namibia who is able and undertakes in writing to maintain him or her.[...]" (Immigration Control Act No. 7 of 1993)

Microlending Act 7 of 2018
Immigration Control Act No. 7 of 1993
[<a href="https://www.lac.org.na/laws/annoSTAT/Microlending%20Act%207%20of%202018.pdf">Act</a>],[<a href="https://media.namiblii.org/files/legislation/akn-na-act-1993-7-eng-1993-08-19.pdf">Act</a>]