Nedbank launches financial booklet

03 September 2020 | Banking

The second edition of the Nedbank Financial Education booklet was launched in the capital on Monday.

The booklet was created with the aim of enhancing the public’s financial knowledge, as well as empowering Namibians to make better and informed financial decisions, a media statement issued by the bank on Tuesday said.

It comes at a time when many Namibians are facing financial hardships as a result of the Covid-19 pandemic, the bank added.

“Nedbank Namibia is a platform partner and member of the Financial Literacy Initiative (FLI), which is a national platform under the custodianship of the Ministry of Finance, dedicated to educating the public on money matters. The FLI aims to improve people’s lives through delivering financial education programmes countrywide to individuals and small businesses,” the statement said.

It further noted that the FLI has left its mark on Namibia’s SME sector through its financial management training for small businesses all around the country.

Nedbank Namibia Head of Nedloans, Erastus Haihambo as quoted by the statement said consumer protection was a fundamental principle for the creation of the booklet.

“The principles of consumer protection, which includes treating the client fairly and encouraging responsible lending were foundational in both the creation of the booklet, as well as the introduction of newly revised Nedloans personal loans product, which came into effect on 01 July 2020,” he said.

He noted the Financial Literacy Initiative’s main objective is to empower communities with financial knowledge.

“The Nedbank Financial Education booklet has the potential to improve the lives of individuals and business people of Namibia, it can assist people to identify, choose and use the best financial products and services for their specific needs,” he concluded. - Nampa