KEETMANSHOOP: Finance Deputy Minister Carl-Herman Schlettwein launched the financial literacy campaign for the southern regions of Karas and Hardap in Keetmanshoop Monday.

The campaign that is an initiative of the ministry of finance that was first introduced in March this year in the capital and aims to promote financial inclusion for all especially for low income and irregular income earners.

It also promotes sound financial planning and management at personal and most importantly Small Medium Enterprises (SMEs) level.

Campaign distributes financial education through roles plays and training with emphasis on budgeting, saving and spending under the theme “Be Wise”.

Speaking at the launch held at W.K Rovers in Tseiblaagte Schlettwein the initiative was formed against a background of low financial literacy and high financial inclusion amongst Namibians. Especially for SMEs and low income earners.

He further stated that it was also formed against a backdrop of difficult conditions for access to finance

“In order to achieve long financial security as individuals we need to set long term plans against our earnings and work towards achieve such plans,” he said.

Speaking at the launch Karas Governor Bernardus Swartbooi challenged the initiative saying it should also focus bank reforms as it will be meaningless without that.

He says banks in Namibia sometimes refuse to invest in housing especially in areas that have shacks and that should not be the case.

Swartbooi said banks should also assist local authorities to service land for people because in that way they will respond to peoples need much better.

The governor says it is not advisable that some banks have inquiry services that are accessible from outside the country and customers waste a lot of money on international calls.

In response Schelttwein agreed on the fact that banks operations be reformed.

He also added that the ministry is working on addressing some of the issues raised by the governor.

“In the coming month, the Ministry of Finance will launch the Financial Sector Development Strategy, which will guide the development and transformation of the Namibian financial sector during the next 10 years towards and inclusive financial sector,” Schlettwein said.

The roll-out of the initiative will start with the SME training as well as the youth and learner targeted financial literacy in both regions very soon.

(Edited) KEETMANSHOOP, 30 JUL (NAMPA) – Finance Deputy Minister Calle Schlettwein launched the Financial Literacy Education Campaign for the southern regions of Karas and Hardap here on Monday.

The campaign is an initiative of the Ministry of Finance, and was first introduced in March this year in the capital. It aims to promote financial inclusion for all, especially for low-income and irregular income earners.

It also promotes sound financial planning and management at personal and most importantly small and medium enterprises (SMEs) level.

The campaign distributes financial education through drama plays and training with emphasis on budgeting, saving and spending under the theme “Be Wise”.

Speaking at the launch held at the W.K Rovers in Tseiblaagte, Schlettwein said the initiative was formed against a background of low financial literacy and high financial exclusion among Namibians, especially for SMEs and low-income earners.

He stated that it was also formed against a backdrop of difficult conditions for access to finance.

“In order to achieve long financial security, as individuals we need to set long-term plans against our earnings and work towards achieving such plans,” said the deputy minister.

Also speaking at the launch, Karas Governor Bernardus Swartbooi challenged the initiative, saying it should also focus on bank reforms as it will be meaningless without that.

He said banks in Namibia sometimes refuse to invest in housing, especially in areas that have shacks, and that should not be the case.

Swartbooi said banks should also assist local authorities to service land for people, because in that way they will respond to peoples’ needs much better.

The governor noted that it is not advisable that some banks have enquiry services that are accessible from outside the country, saying customers waste a lot of money on international calls.

In response, Schelttwein agreed on the fact that banks’ operations should be reformed, adding that his ministry is working on addressing some of the issues raised by the governor.

“In the coming month, the Ministry of Finance will launch the Financial Sector Development Strategy, which will guide the development and transformation of the Namibian financial sector during the next 10 years towards and inclusive financial sector,” Schlettwein said.

The roll out of this initiative will start with SME training as well as the youth and learner-targeted financial literacy in both regions very soon.