KEY TAKEAWAYS

Below are some important insights garnered from the event based on the topic of discussion

Before deciding to spend anything, it is important to distinguish between needs and wants, and focus on your needs when working with a limited budget In such an economy, it is necessary to develop a sustainable lifestyle to secure your future Borrowing money will decrease the value of your salary or allowances since you will have to pay out debts before you begin spending.

There is a need to bridge the gap between theoretical knowledge and practical skills needed in the corporate world. To achieve this, the educational system needs to integrate financial literacy to aid students be geared up with the necessary financial security knowledge, and increase partnerships between private, public, financial and academic institutions need to be established

The financial markets are growing at a fast speed, and so are scammers It is important to acquire the necessary skills in a formal way before you engage in them This will avoid one from falling victim to scammers Platforms such as these are ideal for learning.

NAMFISA will begin regulating all consumer credit offering institutions for the benefit of the lender & the receiver of funds. The Bank of Namibia is currently drafting a consumer credit act that will protect the receiver upon any maltreatment from the lending bureau