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With Black Friday just around the corner, it’s important for consumers to exercise caution and self-discipline when managing their money over this period. Lack of financial discipline around Black Friday can easily lead to financial woes especially in these uncertain times.
The Government Institutions Pension Fund (GIPF) has emerged with a 28% stake in Mobile Telecommunications Limited (MTC) after the telco’s Initial Public Offering (IPO) and subsequent listing on the Namibian Stock Exchange (NSX) on Friday.
Namibia has witnessed an upsurge in online shopping opportunities over the past two years as numerous retailers now offer this option, while a number of new online shopping portals have opened for business, particularly on social media.
The Government Institutions Pension Fund (GIPF) on Wednesday said it has invested over N$268 million in the past nine years towards the construction of affordable housing in the Erongo Region.
COP26 has dominated the headlines in recent weeks. Much of the discussion centred on how to fund climate projects in the developing world. Huge numbers were mentioned: around USD 500 billion by 2025, according to COP26 President Alok Sharma .
The Government Institutions Pension Fund (GIPF) is a defined benefit scheme with guaranteed pension benefits. The Fund guarantees a monthly pension upon retirement, and a monthly pension for life to spouse(s) of deceased members.
The Government Institutions Pension Fund (GIPF) is a signatory to the United Nations’ Principles for Responsible Investing (UNPRI), which are a set of six principles that seeks to incorporate Environmental, Social and Corporate Governance (ESG) factors into investment decisions.
Namibia has just received an all-time record high fuel price hike – an increase that will really affect the consumers’ pockets. With this increase in the fuel price, it is a good time to look at where you are spending and if there are ways that you can manage your money and free up some cash.
Alna Booysen, FNB Premium and Consumer Head, says there are a few steps that one can take to make sure that they are making their dollars work for them over this time:
1) Track your spend - This will be a great way to see where your spending is going and also highlight any unconscious spending that may be happening; it will also highlight your major spend categories. You can do this either by using a pen and paper or a spending tracker app.
2) Now check your budget - Now that you have an idea of where your money is going, the next step is to put your budget together. This is where you need to look at what is important to you and check if your spending is aligned to the things that are important to you. On this point, you can go through the following 4-step process :
3) Loyalty programmes - Use your loyalty programmes to help you free up the cash that you may need. For example, use your FNB Rewards to pay for cosmetic products as well as fuel where you can get up to 15% cash back on your fuel spend. With the cash that has not been used to pay for these items, use that to start saving for an emergency.
4) Festive season - The festive season is also around the corner, so if you are travelling during this time, start saving for the extra fuel costs that may be associated with travelling over this period. Also be aware that some financial institutions will run monthly debit orders a bit earlier, which will help with cash flow in January and keep your credit score intact.
5) More tips to save on fuel costs
“Being aware of where your money is going and what you are spending it on is the first step in setting yourself up for financial resilience. Using a tool like the FNB App will help you keep to your financial goals,” advises Booysen.
The Agribank Board has appointed Emmanuel Masule, the bank’s Executive Manager Credit to the position of Acting CEO until Dr Raphael Karuaihe takes up the role following his appointment as substantive CEO with effect from the 10th of January 2022.
The Development Bank of Namibia (DBN) says it has formally closed an investigation and subsequent disciplinary inquiries which emanated from alleged transgressions in the approval of loans by seven of its staff members.
Finance Minister Iipumbu Shiimi has announced that Namibia plans to set up a sovereign wealth fund (SWF) before the end of the year to secure the country's future savings and transform the economy.
The Bank of Namibia has extended the COVID-19 banking sector relief measures by 12 months and also made key amendments to the Determination on Policy Changes in Response to Economic and Financial Stability Challenges introduced in April last year.