WINDHOEK: Standard Bank Namibia’s Managing Director Mpumzi Pupuma says financial literacy among youth essential to prepare them make decisions in future as young adults.
Pupuma said this in his speech read by Standard Bank Namibia’s Chief Financial Officer Bryan Mandy during the hand over of the cheque of N.dollars 180 550 toward the Financial Literacy Project.
The project organised by Youth Entrepreneurship Seminar Trust (Yes Trust) to empower Namibian youth with the basic business financial literacy, providing them with a practical business experience through a simulation.
“We are committed to the 2012 FLP of the Yes Trust. This is the sixth consecutive year that we are involved in such a worthy cause aimed at equipping our youth with basic businesses financial literacy,” Pupuma said.
He said choosing a credit card, saving, budgeting wisely, taking out loan, buying a car or purchasing a home, comprehending interest rates and the financial market place now requires more financial understanding than ever before.
Speaking at the same occasion, Chairman of the Yes Trust, Anton du Preez welcomed the donation adding that the project is well accepted in the community specially at schools.
Du Preez said the project has rolled-out to more schools in rural areas in Omusati Region and Ohangwena region and over 1 300 learners and teachers benefited from this programme.
He stressed that the simulation requires them to think and take the necessary financial decisions that will lead to the success of their businesses.
“This is the way of educating them on how to add value to their businesses, add value to their family and understand financial problems,” du Preez said.
He added the simulation prepare them not to be self-sufficient but also to add value to the economy of the country for the attainment of vision 2030.