By Niilonga Hilma Amukwiyu
Following last years elections, there has been a lot of political changes in Namibia.
This will continue with our regional & local elections slated for end of the year. The past few months and especially the past few weeks has been full of emotional roller coaster.
The weather was weathering and everyone was talking. We saw senior ministers becoming ordinary backbenchers.
We saw ordinary people who we didn’t know that they are SWAPO member card carrying holders joining the cabinet and now heading crucial ministries. We saw politicians being sent home.
We saw a President of a political party blaming tribalism for their non performance in elections. We saw the new political party of IPC becoming the official opposition party, kicking PDM which came at number 5. Alot was happening.
The political career offers great rewards and requires no qualification for one to become one. All that one needs is confidence, charisma and public speaking skills.
Namibians in general are financially illiterate and politicians are not an exception. The political space has been entered by a number of young people with the youngest being 22 years.
For majority of them, they will realise that their income has doubled or even tripled. This news can be overwhelming for some. This past holiday, i sat around a table with the then MP-elect who couldn’t hide their excitement about going to parliament. They said they had already written & signed their resignations letters and are only awaiting “thee day” to strike so that they hand them to their appointing authorities.
A political position is a five year contract, hence the need to start off with the end in mind. Its crucial that every politician have a financial plan and a plan of their life after politics.
Now that the dust has settled & majority o politicians know their fate for the next 5 years, here below are my advice:
1.Plan your retirement: For those that recently joined parliament and has been working for a while and had retirement benefits, you will be tempted to spend your retirement savings from your previous job. PLEASE DONT!! Especially if you are older than 35. Let it be converted into a preservation fund. Its also good if you can supplement your retirement savings with a retirement annuity.
2. Educate yourself : for those who are young, middle age and uneducated, please enroll yourself for university so that you can acquire a skill. In case your political career comes to an end in 5 years, you have acquired a skill that will enable you to secure a job outside of politics.
3. Leverage your network to create wealth:The political space exposes you to alot of people and opportunities that you wouldn’t otherwise have. Use your acquired network & opportunity to create wealth. A word of caution: please do so legally, in good faith, with sincere of hearts and zero malice.
4.Save & invest: As mentioned above, majority of politicians income has doubled & tripled. Please do not get over your head to increase your spending unnecessarily. Instead, increase your investments. I suggest a 20% of gross income to your investments.
5. Work Hard: Be diligent at your job so that when next terms come, you have demonstrated to the electorate and your party President that you can deliver. Participate in issues of national concern, go to the grass roots level &talk to people that gave you an opportunity to serve. Don’t let the title of being called Honourable make you high & mighty somebody.
I wish you all well in your new positions. Let serve our Motherland, Namibia with diligence & care.
*Niilonga Hilma Amukwiyu is a Credit, Risk & Compliance professional. She writes in her own capacity. Email: shatiamukwiyu@gmail.com
