Bank Windhoek Money Matters roadshow educates public to become financially wise

September 23, 2015, 8:25am

Bank Windhoek last weekend concluded its countrywide Money Matters Roadshow in Walvisbay.

The Money Matters Roadshow was performed at the Ongwediva Trade Fair, Keetmanshoop, Swakopmund and and Walvisbay, to give the public a better understanding of how to go about their financial decisions and to emphasize the importance of creating a saving mindset for your future self.

The show consisted of short and interactive plays in which local actors portrayed various scenarios the public faces when it comes to saving and investments.

The scripts were written and performed in a simple way to give people a better understanding on why to save, what kind of payment methods there are and, if you would like to extend your business steps that can be taken. Members of the public who interacted with the play received various Bank Windhoek promotional items.

Five shows were held at the Ongwediva Trade Fair and one show each in Keetmanshoop, Swakopmund, Walvisbay drawing crowds of up to 350 people per show.

The Bank Windhoek Money Matters Roadshow forms part of the Bank’s role in the Financial Literacy Initiative (FLI) which is in its fourth year.

The FLI is continuing to realise its vision of financial literacy through education and awareness. Financial literacy aims to change people’s financial behaviour in the following ways: 

• Managing personal (and business) finances – planning, budgeting, saving, and making financial decisions.
• Choosing financial products and services – having knowledge about, and making adequate use of the available financial products such as medical insurance, savings accounts, housing finance, hire purchase, short-term and life insurance and the use of payment systems.
• Knowing financial institutions – having enough knowledge to choose between and identify the types and mandates of different financial institutions.
• Knowing rights and responsibilities – being aware of one’s rights and responsibilities as a financial service consumer, as well as being capable of using the consumer recourse mechanisms available when necessary.

Influencing behaviour with the goal of improving a person’s financial situation and wellbeing is a highly challenging goal.

Bank Windhoek, as a FLI member, therefore believes in delivering simple, positive messages to the target groups in an interactive approach, for example through “edutainment” (e.g. industrial theatre) and usage of innovative media channels (mobile phone, social media, etc.). Such activities will be complemented by the distribution of printed material through.

“As Bank Windhoek, we see it as our responsibility to help educate the public at large as to how finances work, as it will ensure that they create a better future for themselves and their families. A financially informed person will make the right decisions not only for now, but also in the future,” said Riaan van Rooyen Head: Corporate Communication and Social Investment at Bank Windhoek.