10 Inside BUSINESS Tuesday, March 6 2018 | NEW ERA Empowering students to become financially savvy Staff Reporter Windhoek G be cultivated from an early age and these days many children with savings accounts have the general understanding that they have to save for the things they really want. As these children grow into teenagers, they will have started to think about careers and studying towards them. For many tertiary students, this introduces a shift from saving for “nice to have” items to having to budget for everyday expenses from their allowances. This is when it is critical to have a basic understanding of living within a budget – especially for students. When students understand the significance of drawing up and sticking to a budget, chances are that they will be better prepared for Raja Kambazembi Roxanne Poulton Kaylien Falleky and enter the workforce. “Budgeting takes discipline,” says Bank Windhoek’s Head of Corporate Affairs, Hayley Allen, “and there is no better time than as a student to start cultivating the habit of knowing how much money you have in your account at any given time, keeping Public Notice to all Namibian SMEs, Large Manufacturers/ Processors and Producers of Products REGISTRATION OF NAMIBIAN PRODUCTS track of where your money goes and making decisions of where you need to cut on expenses.” Bank Windhoek’s Vibe Account is designed to increase students’ needs of full-time and part-time registered Namibian tertiary students between the ages of 16 and 30 years. “It feels great to have my Vibe Account because it teaches me to be responsible and allows me to manage Kaylien Falleky, an education student. The Vibe Account offers exciting rates, free Life Cover of N,500, a Visa Electron Debit Card to make withdrawals at ATMs and Point- Of-Sale purchases and access to the internet and CellPhone Banking. “It allows access to my account via my cellphone and because of withdrawal limits, it also helps me manage the available cash in my wallet wisely. It is amazing,” said 23-year-old law student, Virachio Hill. Roxanne Poulton, a medical student, said that the Vibe Account makes it much easier for her to manage and accessibility to the internet (Internet Banking) on her mobile phone. “It was a great help especially when I applied for a study loan and it also allows me to save,” said Poulton. She added that having her own bank account makes her feel independent and gives her total control over her finances. “The statements allow me to see my income and expenditure. At the end of the day I do not need to ask my parents for money because the account allows me to budget well,” said Poulton. Poulton said that the reason for opening her Vibe Account is due to the sustained excellent service Bank Windhoek has provided to her parents and grandparents. They have been customers since the bank’s inception. Explaining how she uses his Vibe Account, 18-year-old engineering student, Raja Kambazembi, says: “The Vibe Account helps me with my studies. I can purchase MTC credit, which I use for data for my research and I can buy electricity – this helps when my parents do not have time to do so. Besides it helps me to send and receive money, and makes me feel more responsible by sticking to my budget and spending wisely. I fellow students.” The Ministry of Industrialisation, Trade and SME Development is in the process of compiling a producers and local retailers. - on or before the 30 May 2018. Erongo Oshana Email email@example.com Email firstname.lastname@example.org Hardap Oshikoto Tel 063 240 321 Tel 0811 664 603 Kavango East & West Otjozondjupa Kunene Zambezi Ohangwena //Kharas Omaheke NB: Please ensure that all required information is provided in the registration form to enable the Ministry to make informed decisions Addventure Pitch Night a must for entrepreneurs Staff Reporter Windhoek The German Development agency, the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, in collaboration with the Namibia University of Science and Technology’s FABlab and sponsored by Standard Bank Enterprise Banking and the City of Windhoek, will host the ADDVENTURE Pitch Night, on March 08, 2018 at the Warehouse Theatre. “ADDVENTURE is a local adaptation with a twist of the internationally acclaimed “Dragon’s Den” concept with it aiming to provide entrepreneurs access to business support services. The platform caters for start-up innovators and is expected to be an exciting event which will aim to introduce local innovative business start-ups to stakeholders who will offer business support service through access to funding and mentoring amongst other forms of support. This platform serves to connect emerging entrepreneurs and innovators to prospective investors, collaborators, fellow entrepreneurs and the general public,” commented Kirstin Wiedow of FABlab. Key industry stakeholders are expected to grace the occasion to witness how a total of eight ventures would be competing in the pitching slots to possibly win the prize money sponsored by Standard Bank Namibia as the main sponsor. “Just like in the past events, the ADDVENTURE platform offers local entrepreneurs the opportunity to pitch their innovative ideas and locally developed products to potential investors and business support organisations. They do so in a bid to secure funding, access to facilities and other business support services that can stimulate their business growth’’, said Caroline Girard of GIZ. ‘’The aim of the ADDVENTURE Pitch Night, is to give local businesses greater capacity in line with the National Development Plan, with a focus on youth enterprise development as outlined in the Harambe Prosperity Plan’’, added Leonora Joodt Head of SME Development and Promotion at the City of Windhoek. The Pitch Night will be preceded by a Red Bull Amaphiko workshop hosting Siviwe Mbinda, a well-known South African entrepreneur. The event promises to be fun, highly energized and will once again showcase hidden gems of the Namibian entrepreneurial ecosystem. Dennis Isaacs Head of Enterprise Banking at Standard Bank views Pitch Night as a great concept for bringing about innovative ideas that could otherwise solve societal challenges. ‘’It is a great opportunity for the bank, as we realize that we can potentially help these businesses become contributors of economic growth in Namibia. The bank does not just view entrepreneurs through a commercial lens, but sees a responsibility in actively supporting the business growth of existing and potential businesses. We are supporting the event by providing the prize-winning amount of N 000,’’ stated Isaacs.
Tuesday, March 6 2018 | NEW ERA Inside BUSINESS 11 Brand SA launches campaign to boost investment Tiger Brands recalls Enterprise ready-to-eat chilled processed meats over listeriosis JOHANNESBURG South Africa’s official marketing agency yesterday said it was launching a six-week digital campaign to position the country as an ideal investment destination. Since Cyril Ramaphosa’s election as leader of the ruling African National Congress in December, and his swearing in as the country’s president last month, the government and business have stepped up efforts to repair South Africa’s image among investors and ratings agencies, dented under former president Jacob Zuma’s watch. Brand SA yesterday said the ‘CEOs Know’ campaign would feature various senior corporations and organisations including South African Tourism, the Johannesburg Stock Exchange, Goldman Sachs South Africa, Anglo American South Africa, Shell Companies South Africa and Toyota South Africa Motors. It said the campaign would showcase inspiring stories as told by the respective CEOs, highlighting South Africa’s competitive strengths as an attractive foreign investment destination. “This campaign comes at a time which sees private and public sector in collaborative efforts to strengthen and accelerate progress in building a more prosperous and equitable South Africa,” Brand SA CEO Kingsley Makhubela said. - Nampa/ANA JOHANNESBURG South African food giant Tiger Brands yesterday said it was immediately recalling its Enterprise ready-to-eat chilled processed meat product range over the weekend as the source of a deadly listeriosis outbreak. “We have contacted all our custom- are removed from their store shelves and will continue to work with authorities to ensure an effective and speedy recall,” the company said. “Additionally, we have suspended operations at both Enterprise manufacturing facilities (Polokwane and Germiston) and have halted supply to trade.” Health Minister Aaron Motsoaledi said on Sunday processed food manufacturers Enterprise, a division of Tiger Brands, and Rainbow Chicken Limited had been issued with safety recall notices following the listeriosis outbreak. The Enterprise food production facility in Polokwane in Limpopo had current listeriosis outbreak, he said. As of March 2, the total number of has risen to 948 since January 2017. Of those, 659 patients have been traced and 180 of them have died - a 27 percent fatality rate. Retailers Pick n Pay and Shoprite said they had withdrawn all listeriosislinked food from their shelves. Tiger Brand said it was undertaking enhanced deep cleaning protocols, to the rotary coolers to provide a bacterium kill in cooling water and Increased sanitisation of packing tables. The company said it had, since the the department of health in December and introduced additional hygiene monitoring of processes, equipment, storage and waste areas at its facilities. Although its testing had detected listeria at low levels, in a batch of one product on February 14, 2018, the presence of the ST6 strain had not “The relevant samples have been sent to an external laboratory for the are expected back on 5 March 2018,” Tiger Brands said. - Nampa/ANA SA banking industry warns consumers against ponzi and pyramid schemes JOHANNESBURG The South African Banking Risk Information Centre (Sabric) yesterday urged consumers to be sceptical of any investment that seemed too good to be true and promised quick, high and guaranteed returns. Sabric chief executive, Kalyani Pillay, warned consumers about illegal schemes and the tactics fraudsters would use to lure victims. He said in South Africa, these schemes generally meet the criteria of either a traditional ponzi or pyramid scheme. Both schemes see returns generated for earlier investors through revenue paid by new investors, rather than from legitimate investments or business activities. At the point where there are more existing investors than new investors, the scheme collapses and all monies invested, are lost. People who were expecting to make a good return on their investment, not only get nothing, but also stand to lose most, if not all the money they initially invested. “Scamsters will go to great lengths to get victims to invest in these schemes through the use of social engineering tactics,” Pillay said. “They will even come up with convincing, fabricated statistics to make their offer look attractive, so always treat these kinds of schemes with suspicion.” Sabric is a not-for profit company formed by South African banks to support the banking industry in the combating of crime. - Nampa/ANA MARKET OVERVIEW Change Latest 3 months 0.00% 7.13% 6 months -0.01% 7.54% CGP CAPRICORN INVESTMENT GROUP L 1799 0.00% 9 months 0.00% 7.64% NBS NAMIBIA BREWERIES LTD 4350 0.00% 12 months 0.03% 7.90% BVN BIDVEST NAMIBIA LTD 780 0.00% Change Latest FNB FNB NAMIBIA HOLDINGS LTD 4655 0.00% GC18 (R204 : 6.52%) -0.01% 7.43% ORY ORYX PROPERTIES LTD 2040 0.00% GC21 (R208 : 7.1%) 0.02% 7.92% NAM NAMIBIAN ASSET MANAGEMENT LT 69 0.00% GC24 (R186 : 8.2%) 0.01% 9.42% NHL NICTUS NAMIBIA 189 0.00% GC27 (R186 : 8.2%) 0.01% 9.81% BMN BANNERMAN RESOURCES LTD 39 0.00% GC30 (R2030 : 8.66%) 0.01% 10.33% DYL DEEP YELLOW LTD 241 0.84% GC32 (R213 : 8.75%) 0.01% 10.46% SILP STIMULUS INVESTMENT LTD-PREF 12129 0.00% GC35 (R209 : 9.05%) 0.02% 10.48% FSY FORSYS METALS CORP 102 10.87% GC37 (R2033 : 8.87%) 0.01% 10.87% TUC TRUSTCO GROUP HOLDINGS LTD 900 0.00% %Change Latest B2G B2GOLD CORP 3585 -0.91% Gold 0.06% $ 1,323.51 Platinum -0.30% $ 963.29 Copper 0.00% $ 6,898.00 Brent Crude -0.28% $ 64.24 %Change Latest NSX (Delayed) 0.53% 1431.76 JSE All Share 0.50% 58,032.78 SP500 0.51% 2,691.25 FTSE 100 0.18% 7,082.76 Hangseng -2.28% 29,886.39 DAX 0.59% 11,984.59 %Change Latest Financials 0.77% 18,536.18 Resources 0.32% 34,933.50 Industrials 0.64% 76,134.45 %Change Latest N$/US dollar 0.21% 11.9487 N$/Pound 0.29% 16.5045 N$/Euro 0.06% 14.6961 US dollar/ Euro -0.15% 1.2299 Latest Previous Namibia Inflation (Jan 18) 3.6 5.2 Bank Prime 10.50 10.50 BoN Repo Rate 6.75 6.75