News

Oshikuku agency offcially opened

25 April 2017: On 20 April 2017 FNB CEO, Sarel van Zyl and His Worship the mayor of Oshikuku, Mbockoma Mungandjera offcially opened the FNB Oshikuku agency. In his address, Sarel van Zyl said that Oshikuku, and the greater Omusati region had been the radar of First National Bank for many years since the bank had set up its first representation there in the form of its first ATM.

"Our ATM was installed at Oshikuku years ago to provide essential banking services without any rudimentary banking activities here. But like all endeavours, growth is a constant factor, so in line with the current activities such as the number of commercial houses now in this area, it became an important goal for us to provide services closer to our customers here, hence our decision today to open this agency."

FNB Namibia is continuously looking at ensuring a pleasant banking experience for all customers, aiming to provide affordable and accessible banking channels to both the business and consumer segments throughout Namibia.
"Our operations at FNB are driven by our brand mantra of 'How can we help you?' This is an open invitation to all our stakeholders, including our clients, partners and of course our more than many employees - to talk to us and share ideas on how we can improve," Sarel said.

He added that the FNB corporate brand could be seen all over the country either through branches or agencies or strategic partnerships. "As Namibia's oldest financial services provider, we will continue to help by supporting our Government to steer the Namibian economic and financial agenda towards Vision 2030. Our involvement can be witnessed by how much we contribute to state coffers through direct and indirect taxes and to the upliftment and development of communities through the FNB Foundation Trust."

For more information, please contact
Elzita Beukes, Communications Manager at FNB Holdings on telephone: (+264 61) 299 2125, elzita.beukes@fnbnamibia.com.na

Justus Hausiku joins FNB Board

24 April 2017:FNB Namibia welcomes Justus Hausiku as non-executive director to the Board of Directors of First National Bank of Namibia Limited and FNB Namibia Holdings Limited. Hausiku is currently the Executive Chairman and co-founder of the Arch Group of Companies.

He has worked for numerous Namibian companies such as Hollard Life Insurance Namibia, Old Mutual Life Assurance Company, PriceWaterhouseCoopers to name a few, and has gained invaluable experience over the past 15 years.

He holds a Bachelor of Accounting degree from UNAM and a post-graduate diploma in accounting and CTA (honours degree) from Rhodes University in South Africa.

"I look forward to working with the leading banking Group in Namibia. Together we will ensure great service, value for money and work towards even greater inclusivity in banking for all Namibians", said Hausiku.

For more information, please contact
Elzita Beukes, Communications Manager at FNB Holdings on telephone: (+264 61) 299 2125, elzita.beukes@fnbnamibia.com.na

FNB's Namene looks at inflation expectations and Namibia

19 May 2017: Namene Kalili, Research Manager, Strategic Marketing and Communications has commented on a variety of issues affecting Namibia, inflation and pricing.

Domestic inflation came in at 6.7% for April, continuing the downward trajectory from the 8.2% inflation shocker in January. Food disinflation drove overall inflation lower, printing 1.6% lower through April, from 13.2% in January. "Food prices are not going down, but instead continue to go up. However, the pace at which food prices are increasing has slowed remarkably.

A mere five months ago, food prices were rising at 13.5% per annum, but now they have come down to 5.3%. Most of this correction is attributed to increased food production in the Southern Africa, which has narrowed the excess food demand and moderated food inflation to a certain extent." Namene said that where cereal and bread prices increased by 15.4% in January, the rate of increase has come down to 0.9% and may possibly start falling from next month onwards.

Should this transpire, significant consumers of cereal and bread products will see their cost of living reduce for the first time in six years. Other cost pressures are in housing, which accounts for 39% of the overall inflation. The combination of low housing delivery and rising utility costs, has kept housing inflation upwardly sticky.

This is a situation that will persist if we do not address the structural housing supply problems, that have plagued the economy for the past decade. Whereas Windhoek has an estimated housing demand for 300 houses per month, a measly two houses were completed in Windhoek last month, one in Brakwater and another in Kleine Kuppe.

"These developments have necessitated a downward revision for our inflation expectations, we expect strong downwards trend until June, at which point, domestic cereal pricing mechanisms and new electricity tariff adjustments to lift food and housing inflation. This should stabilize inflation for the rest of the year, within the 3 to 6 percent band this year, and thus supporting our view for flat interest rates for the remainder of the year, which remains unchanged."

Regarding the petrol price hike in SA Namene advised that this was not necessarily influencing Namibia negatively. "SA has its own fuel fundamentals that drive their fuel prices. Ordinarily SA pump prices should have decreased, but the increase in road fund levies during the month resulted in increased pump prices. Back at home, fuel prices have remained unchanged, despite the under-recoveries on unleaded fuel and 500ppm diesel. Therefore, fuel prices may be adjusted in June if crude oil continues to fluctuate between U$53 and U$57 per barrel."

In conclusion Namene stated that they expected a long drawn out recovery in the absence of fiscal and monetary buffers. "We believe the weak savings culture has made our economy too dependent on consumption expenditure for growth, while relying on external funding to finance capital investments. Therefore, increased savings and direct integration of the suppliers of capital into the capital markets will yield greater broad based equity participation, and resuscitate and sustain high growth going forward.

For more information, please contact:
Communications Manager at FNB Holdings
Elzita Beukes
(+264 61) 299 2125
elzita.beukes@fnbnamibia.com.na

Mom knows best - also about finances

16 May 2017: Mothers deserve a lot of credit for the variety of life lessons they teach children; including guidance on finances. "In fact, more than eight in ten Americans say they learned something about money from their mothers," says Elzita Beukes, Manager: Corporate Communications at FNB Namibia. "In light of the recent Mother's Day and Women's Month, we thought it great to share some of the financial wisdom and savings tips we learned from our mothers that are still applicable today."

'We believe that a woman who has a bank account can take care of herself and her family, and while there are always exceptions to the rule, women have proved to manage debt and be better re-payers, and tend to put away more for a rainy day.'

Elzita adds, "The most fundamental rule to remember is to live within your means and to differentiate between a want and a need. Do you really need another pair of shoes or are the four pairs in the cupboard sufficient for now? This is something I learned from my mother and she also taught me to shop wisely and consider sales. These tips will stretch the budget to last a little longer." Mothers are interested in the kids' money learning process and the day-to-day aspects of financial management.

"Life lessons like "don't be late" and "practice, practice, practice" and "don't be afraid to ask for help" and many others have a direct application to your finances. After all, it's wise indeed to never make a late payment, to ensure that enough money is in the account for all the debit orders that go off and to seek advice on complicated money matters."

FNB Namibia offers a number of great products which talk to women and their families such as the Flexi Fixed Deposit accounts (which allow the customers to deposit additional funds into the account during the investment term, which can be either 3 or 12 months as well as 2 withdrawals to the value of 15% of the available balance), Bank Your Change™, point of sale for transactions when doing grocery shopping, Cellphone Banking (airtime purchases for the kids) and cardless ATM withdrawals if you forgot your card at home when running between work, school and home. Then there are the future accounts for school going kids, student loans for students and credit cards, which probably all women like!

Says Elzita: "One of the greatest products we offer at FNB that may appeal to the more prudent woman, is Bank Your Change™ as it is a feature on all Transactional Accounts which uses a linked Savings Pocket to automatically transfer money from your transactional account to your savings account, when you pay with your debit card." This feature is an innovative way for customers to automatically save their "left over" cents/change when they swipe their debit card. It helps the customer to save their money automatically - you are saving while you shop and you can determine how much must be set aside every time you swipe your debit card. Ladies, let us all become financially savvy and independent during Women's Month."

For more information, please contact:
Communications Manager at FNB Holdings
Elzita Beukes
(+264 61) 299 2944
vmuranda@fnbnamibia.com.na

Make provision for debit orders to avoid extra costs

15 May 2017: In an effort to consistently educate customers, FNB Namibia would like to share some advice with customers about honouring debit orders. "It seems as if some customers are unaware of the financial implications of not having enough money in their accounts for monthly debit orders," says Elzita Beukes, FNB Communications Manager.

If a customer does not have enough money in his or her account when the debit order is due, the debit order will not be paid and banks have to charge a penalty fee.

Customers should also be aware that bounced debit orders are recorded against your credit profile information. If it occurs often, it can affect your chances of getting credit in the future. It is important that we exercise prudence during these difficult financial times".

Elzita highlights the benefits of using a debit order, such as the convenience it offers without the customer having to manually make each monthly payment. "Paying by debit order is a simple and reliable way of making sure you keep up to date with your financial commitments. You'll never miss a payment and will be able to manage your budget better.

A debit order is a way for a third party, that you have given permission, to collect money from your bank account. It's typically used to collect monthly subscriptions, insurance premiums or loan repayments." In conclusion Elzita advises customers to pay all their accounts and necessities before spending on wants. "Arrange for your debit orders to go off on or soon after payday to ensure you have enough money available to pay them."

For more information, please contact:
Communications Manager at FNB Holdings
Elzita Beukes
(+264 61) 299 2125
elzita.beukes@fnbnamibia.com.na

FNB supports Oshakati Totem Expo

23 May 2017: FNB Namibia has pledged an amount of N$35 000 towards the upcoming Oshakati Totem Expo.

Toivo Kalla Area Sales and Service Manager of FNB Namibia explained that this expo speaks to culture diversification and was a representation of family clans and the perseverance thereof. "Culture is the foundation of one's identity and it is very important that it is well preserved and documented for the current and future generation to know where they come from and where they're going to.

The Expo has fused with modern culture and allows for exhibitions from corporate and commercial companies, SMEs and various artists We are proud to support this event as a celebration of culture and as hub for business to flourish."

"FNB Namibia will be present at the expo with a mobile ATM to cater for clients who would need some cash, and we will advocate for the usage of digital banking platforms during the expo. Our lifestyle consultant will also be on hand to offer services such as account openings, registrations on Cellphone banking, Online banking, the Banking App, applications for overdrafts, credit cards and personal loans.

We look forward to welcoming the Northern community to our stand and look forward to asking them, 'How can we help you', "Kalla concluded.

For more information, please contact:
Communications Manager at FNB Holdings
Elzita Beukes
(+264 61) 299 2125
elzita.beukes@fnbnamibia.com.na