Momentum urges women to invest more

20 September 2021 | Business

TUYEIMO HAIDULA

WINDHOEK

Notwithstanding decades of progress towards achieving equality in the workplace, Momentum Namibia investment managing director Evangelina Nailenge has challenged women to see themselves as investors because “money knows no gender”.

Nailenge was speaking last Saturday at an event hosted by Momentum Namibia in celebration of Women’s Month.

She expressed concern that while the conversation of gender diversity has progressed in the workplace, and to a certain extent has started to yield some results, “much is still required to move the needle”.

“Women currently only hold 29 (5.8%) of CEO positions at S&P 500 companies. In South Africa, the 2021 PwC report on remuneration trends shows that only 13% of South Africa's executive directors are women, including CEOs and CFOs. That is just 81 women for a country which has a population of over 60 million,” she said.

Nailenge said the situation was no different in Namibia.

Financial freedom

The keynote speaker, South African businesswoman Amanda Dambuza, emphasised that women should “make stronger money moves” in their quest to attain financial freedom.

Dambuza shared with the audience what she wrote in her book ‘Baked in Pain’: that she was determined to rise above her circumstances rife with segregation, sexual and emotional abuse as well as hardships to become a globally celebrated businesswoman.

She advised Namibian business owners and SMEs to review their business strategies and find means to reach their consumers as a way to navigate the current coronavirus pandemic.

“It’s about endurance and overcoming the odds,” she said.

Dambuza dared women to have a desire to be in charge of their finances and accumulate assets and wealth, adding that financial freedom can also help women avoid staying in toxic and abusive relationships.

Financial expert Afra Shimming-Chase said women should make their money work for them.

“You can make your money work for you by sending your money to work for you every day, rather than sending yourself to work.

“Fixed investments are where Namibian women are putting their money and it’s a problem, because a fixed income will not look after you when you retire.”

Renowned motivational speaker Sam Shivute reminded the audience how to remain relevant and build personal brands while being “unlimited” at all times.

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