WINDHOEK, June 4– Namibian President Netumbo Nandi-Ndaitwah has called for an expansion of financial literacy initiatives beyond corporate boardrooms to rural communities, schools and civic organizations, as the country seeks to broaden economic participation and reduce inequality.
In a speech delivered on her behalf at the 30th anniversary celebration of Namibia Asset Management (NAM) on Wednesday, Nandi-Ndaitwah said access to investment opportunities must be accompanied by access to financial knowledge.
“As we widen access to investment opportunities, Namibia must equally widen access to financial knowledge,” she said, adding that every Namibian should have a basic understanding of saving, budgeting, investing and retirement planning.
“Too often, individuals spend decades building retirement savings only to find themselves financially vulnerable a few years after leaving the workforce,” she said.
Namibia’s financial sector should focus on deepening the market while broadening participation, including through innovative investment products, alternative asset classes and closer cooperation among the government, regulators and industry players, Nandi-Ndaitwah said.
She also stressed the importance of resilient financial institutions amid global economic uncertainty, geopolitical tensions and technological disruption.
“In moments such as these, strong institutions matter.” NAM, founded in 1996, describes itself as Namibia’s largest locally owned asset management company and the country’s only Namibian-listed asset manager on the Namibia Stock Exchange. (Namibia Daily News / Xinhua)
