WINDHOEK: Namibia, for the first time, joined the rest of the world in celebrating World Savings Day on Wednesday.
A media statement issued here on Wednesday by the Financial Literacy Initiative (FLI) Secretariat in the Ministry of Finance said the main objective of the day is to increase awareness amongst Namibian citizens of the fact that a culture of saving is crucial for the financial stability of households and enterprises.
The statement said the FLI is promoting the day in Namibia for the first time as financial resources are scarce, and to spread the message that saving can reduce the vulnerability of individuals, households and enterprises.
The FLI is a platform established by the Ministry of Finance in March this year to promote financial education and consumer protection, and to increase financial inclusion in the country.
The initiative is supported by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) on behalf of the German Federal Ministry of Economic Cooperation and Development.
The initiative has been launched in a number of regions, and its educational street theatre will now move to Katima Mulilo in the Kavango Region (20 November) and Rundu in the Caprivi Region (23).