The Old Mutual Foundation has announced the continuation of its sponsorship for the Financial Literacy Initiative (FLI).

The initiative is a programme that aims to enhance financial education and empower individuals across Namibia.

In a statement, Old Mutual Foundation said that the N$200 000 sponsorship per annum, which has been in effect since the initiative’s official launch in 2012, demonstrates Old Mutual’s Foundation’s commitment to promoting financial literacy and fostering a financially empowered society.

The FLI was initially established in 2009 by the Ministry of Finance and Public Enterprise in collaboration with the Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ).

The initiative aims to bridge the financial knowledge gap in Namibia by providing accessible and practical financial education to individuals from all walks of life.

With the support of more than 40 platform supporters from the Namibian public, private, and civil society sectors, the FLI has made significant strides in improving financial literacy throughout the country.

Old Mutual Foundation’s continued sponsorship of the FLI underscores the foundation’s dedication to empowering individuals with the necessary tools and knowledge to make informed financial decisions.

By supporting the initiative, Old Mutual aims to contribute to the overall well-being and financial resilience of Namibians, fostering a financially inclusive society.

Ms Mignon du Preez, Old Mutual Namibia Group Marketing, Public Affairs, and Sustainability Executive, speaking at the handover event, said: “As a prominent financial services provider, Old Mutual Namibia recognises the importance of financial literacy in driving economic growth and prosperity.”

She further continued by saying that “by equipping individuals with the skills and knowledge needed to manage their finances effectively, the FLI plays a pivotal role in building a financially competent society, ultimately leading to greater financial security and improved livelihoods.”

Speaking at the same occasion, the Acting Secretariat Manager of The Financial Literacy Initiative, Ms Iyaloo Ailonga was equally thrilled by the eleven (11) years partnership saying that, “over the years, the FLI has successfully implemented various programmes and initiatives, including financial education workshops, community outreach programmes, and the development of educational resources tailored to different age groups and target audiences”.

“Through these efforts, the FLI has reached a wide range of Namibians, from students and young professionals to entrepreneurs and retirees, empowering them to make informed financial decisions and achieve their long-term financial goals,” Ailonga stated.

“Therefore, on behalf of the FLI and the Ministry of Finance & Public Enterprise we remain extremely grateful to Old Mutual and all our platform supporters for their resolute support,” Ailonga also said.

Old Mutual Foundation’s sponsorship has enabled the FLI to expand its reach, enhance its programmes, and increase its impact on financial literacy in Namibia. By leveraging its expertise and resources, Old Mutual has actively supported the FLI’s initiatives, providing financial education opportunities to communities throughout the country.

“As the FLI enters its next phase, Old Mutual Foundation remains committed to its sponsorship and will continue to collaborate with the initiative’s platform partners to drive financial literacy forward in Namibia.

“By working together, the Old Mutual Foundation, the FLI, and its partners strive to create a society where financial literacy is a fundamental skill, enabling individuals to make sound financial choices and build a prosperous future,” said Mr Mufaro Nesongano, Old Mutual Foundation Manager.

In the photo: Mignon du Preez, Iyaloo Ailonga, and Mufaro Njabulo Nesongano during the handover ceremony of the Old Mutual Foundation contribution towards FLI.