p4 people’s paper. namibians shun ‘loan sharks’ · money, buying a farm, getting a promotion...

Tuesday 9 May 2017 Building Wealth

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Self-taught, this young trader wants to teach others

We will be bringing your key to wealth as part of The Namibian every second Tuesday.Don’t miss the free service from the people’s paper.P4

•NDAMANAKASHOLE

FEW Namibians are taking out loans from microlenders, community groups or other informal sources, Old Mutual Namibia’s 2016 savings and investment monitor findings revealed on 27 April.

BUILDINGWEALTH

The company’s savings and investment survey is conducted every three years to help Namibians better understand the financial situation at hand.

The investment monitor regularly con-ducts face-to-face surveys of the savings and investment habits and behaviour of working, urban households in Namibia.

The survey sampled 449 respondents in face-to-face interviews. Of these, 115 are from the Oshakati-Ondangwa area, 115 from the Walvis Bay-Swakopmund area, and 219 from Windhoek.

The majority of the respondents (19%) have a home loan.

Car loans, shop accounts and personal loans from financial institutions are popular among the respondents, while only 2% of the respondents have overdraft facilities and personal loans from a microlender.

Meanwhile, 1% of the respondents have revolving credit and instalment purchases of large household appliances.

None of the respondents had loans from microlenders or community groups.

The home loan is paid over varying long periods, followed by car loans paid over five years.

Personal loans, instalment purchases, and store cards are paid back in three and two years, respectively.

The survey further found that Namib-ians do not have specific times of the year for acquiring loans. However, 23% of the respondents take out loans at a specific time, particularly in January.

While the majority of those who take out loans do so in January, about 19% of the respondents take out loans in February, with the majority doing so at the beginning of the month. Few of the respondents take out loans during a specific quarter or half of the year.

From those who take out loans during any half of a year, the majority do so in the second half of the year.

DEBT-TRAP

In a press statement on Saturday, econo-mist and managing director of Twilight Capital Consulting Mally Likukela said many Namibians continue to sink deeper into economic hardships i.e. more debts, less buying power and a weak savings rate.

This, he said, is despite the fact that the financial system is reported to remain healthy, sound and well-capitalised.

Namibians shun ‘loan sharks’

His comments come after the Financial Stability Report for 2017, released recently by the Bank of Namibia and the Namibia Financial Institutions Supervisory Author-ity stated that the local financial system is healthy, sound and well-funded.

“That development could suggest that despite the financial institutions having experienced remarkable growths in assets and profitability, this growth has not trans-

lated tangibly into an improvement in the economic welfare of many Namibians as the majority remain deep in debt, shattered balance sheets and weak buying power,” said Likukela.

He added that while it is fundamentally important for the financial system to be sound and stable because of its role in supporting sustainable economic growth, it is equally important also to ensure that

the benefits thereof are trickled down to the real economy and improve the livelihood of the households, particularly households which depend on debts.

“Heavy household debts are known to amplify slumps and weaken economic recoveries,” he said, adding that Namibia is currently in a slump, and if household debts are allowed to grow, the slump will be amplified, and recovery will be weak.

Graphs: Old Mutual Namibia

2Tuesday 9 May 2017 Building Wealth

The company’s savings and investment sur-vey is conducted every three years to help Namibians better understand the financial situation at hand, among other uses.

Old Mutual regularly conducts face-to-face surveys of the savings and investment habits and behaviour of working, urban households in Namibia.

The survey involved 449 respondents in face-to-face interviews. Of these, 115 are from the Oshakati-Ondangwa area, 115 from the Walvis Bay-Swakopmund area and 219 from Windhoek.

The gender target was 50/50 representation in all the three sample regions.

Thirty percent of all the respondents earn between N$1 and N$1 000, while 28% earn between N$2 000 and N$4 999 in the north-ern and coastal areas, while 27% of those who earn that amount were from Windhoek.

Further, 23% of the respondents earn between N$5 000 and N$9 999 in all ar-eas, while 20% in all areas earn more than N$10 000.

The survey targeted 18 to 20-year-olds, 25 to 30-year-olds, 31 to 39-year-olds and 40 to 64-year-olds per region. The majority of those interviewed were black, 92 were coloured and 22 white, while only one re-

Namibians want to invest in houses...few set financial independence as a goal•NDAMANAKASHOLE

THE biggest financial goal for most Namibians is to own a property, then to start a business and then own a vehicle, Old Mutual Namibia’s 2016 savings and investment monitor findings revealed last week.

spondent was referred to as other.The majority of the respondents are single

and never married, followed by married, and only a few were divorced and widowed.

The majority of those interviewed have some high school education, followed by those who matriculatedm and those who completed university. Most respondents work in the private sectorm and many have full time jobs.

When asked about their financial goals for the next five years, the biggest goal for 41% of the respondents is to own property.

This was followed by starting a business and buying a vehiclem with 25% and 21% of correspondents aiming for that respectively.

Eleven percent of the correspondents want to expand their businesses.

Starting a family, repaying debts and sav-ing money is the target for 6% and 5%m

respectively.Only 1% of the respondents set financial

independence in the next five years as a top goal.

Less than 2% of Namibians are interested in saving for retirement, having a lot of money, buying a farm, getting a promotion and furthering their studies.

PROPERTY OWNERSHIP

Of all those who were interviewed, the majority (55%) do not own property. Of the 45% who own a property, 15% are still pay-ing off a home loan. The majority of those paying their home loans (44%) only pay the monthly amount required. Only 23% pay more than their stipulated home loan amounts every month. Fourteen percent struggle to meet their monthly home loan repayments.

SAVING

Of the total respondents, 80% said they constantly try to acquire more knowledge about financial matters, while 84% want to learn more about saving. Most respondents were risk averse, saying they would rather invest money where more returns were guar-anteed. Perhaps reflecting tough global eco-nomic conditions, only 56% of respondents said they have enough money left for savings after covering all their expenses, while 45% do not have any cash to spare.

Thirty three percent of the respondents prefer to save when the returns are guaran-teed, although very low.

The survey further revealed that 27% prefer not to invest at all.

The rest of the respondents would still in-vest their money even if there is risk involved.

Most respondents save up to N$5 000 per month. The survey revealed that 56% of Na-mibians save for their children’s education.

On 15 March this year, statistics from the Namibia Statistics Agency showed that inflation slowed to 7,8% year-on-year in February from 8,2% in January, which was its highest level since October 2009.

Namibians also save to buy specific items, for Christmas, funeral expenses, medical expenses and a holiday.

Only 4% of the respondents save for no specific reason, but just because it is a wise thing to do.

The majority (47%) of the respondents said they save their annual bonus.

Only 0,7% of the respondents save from their S&T and proceeds from any additional work they may do.

Of all those who were interviewed, the major-ity (55%) do not own property. Of the 45% who own a property, 15% are still paying off a home loan. The major-ity of those paying their home loans (44%) only pay the monthly amount required. Only 23% pay more than their stipulat-ed home loan amounts every month. Fourteen percent struggle to meet their monthly home loan repayments

Graphs: Old Mutual Namibia

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This revered braai pioneer, who is synonymous with the braai stall at the Gammams cemetery braai stalls, took us on a trip down memory lane from testing waters to rising to iconic status.

Van Wyk says that during 1996/97, his family had a domestic worker, Ribbie Draghoender, who, despite a number of personal challenges, was a very hard and dedicated worker.

According to him, she started encouraging him to try out braaing and selling meat at a Tauben Glen street corner over a weekend.

Being the proud person he was then, he said there was no way that he would to find himself selling meat at a street corner.

However Draghoender was relent-less. “She would not give up and probably harassed me for two to three weeks until I said: ‘Ok, let’s do it’.”

The debut was far from spectacu-lar: One lamb carcass and 2,5kg of cake flour for the fried bread did not vanish right away. By the end of that Friday evening, they had not even sold all of it.

This almost convinced Van Wyk that the idea was a flop.

However, Draghoender’s tenacity knew no end and she suggested that they sell the food left over to people employed in the Ausspannplatz area and surrounds even if it was on credit.

“We probably made about N$300 that weekend and I thought this is not going to work…”

The carcass lasted for all four weekend days for that month and, although he had his reservations, Van Wyk decided to push through. “As we went on, things started improving.”

At that stage, his butcher in Kho-masdal suggested that he tries out selling some sosaties too.

This expansion was also off to a slow start, with only about three or four sosaties finding buyers on a Friday initially.

The stint in Tauben Glen lasted for about four years before the City of Windhoek moved them to the present-day location.

This move led to another dip in the business.

However, by the third month, things started picking up. People would drive past the location (situ-ated next to the Gammams cemetery) and then make a turnaround at the old location cemetery.

“Then they would come ask me what was happening – whether it was a private party or a bazaar? I would then tell them what I was doing and so it picked up more and more.”

This resulted in sosatie sales, among others, jumping to about 300 of these delicacies per weekend.

Council had something else in mind and soon they had to relocate to Tauben Glen. Thanks to a no-tice, his new-found customers had

no qualms heading there for their weekend menu.

One particular Easter weekend, a competitor selling chicken, joined Van Wyk in Tauben Glen. As many Namibians traditionally shy away from red meat over this holy week-end, his lamb sales took another nosedive as the chicken flew off the competitor’s grid.

“I was bitterly upset. But I remem-bered what my mother had told me – do not get upset but rather focus on God.”

Before they knew it, the two com-petitors became great friends and colleagues, Van Wyk says.

The upward trend which their ventures took resulted in traffic congestion at the location over the weekend. This saw another move – back to the current spot.

By week three here, a whopping total of 25 lamb carcasses landed on and flew off Van Wyk’s braai over a weekend.

Other competitors came and went while he just grew from strength to strength – to the extent that Chick-Onyama Enterprises became a registered business, he says as his face lights up.

They have grown so much that they now do catering for many corporate functions both in the public and private sector.

Van Wyk says his clients are not only his main focus but also his primary source of inspiration.

His proverbial open-door policy implies that a dissatisfied customer is rewarded with an on-the-house treat without any dispute when they complain about something. “My customers are very important to me.”

He also always takes their recom-mendations to heart. For example, for the past two years, one needs not pay with cash as there are swipe facilities.

Seeing that he works for the big-gest part of the weekend, come hail or pinching cold weather or during brutal summers, he says he prioritises having quality time with his family during the week.

For relaxation, he enjoys watching sports on television, he says.

His faith also plays an integral part of who he is and he finds refuge in God.

He had his last alcoholic drink the weekend of 10 November 1994 when his daughter, Minette, turned two.

According to him, his wife, Noriene, told him that she did not believe him when he said that was his last weekend of drinking as she had heard similar refrains before.

Especially youngsters give up too easily when they start something new and things get tough.

“Irrespective of what people think of and say about you, just do your thing. Just start and continue to try. One day, you will reap the rewards.”

Braai king shares his success secret

•DENVERKISTING

FROM humble beginnings of selling a handful of roosterbroodjies from 2,5kg of cake flour over a weekend some 20 years ago, Namibia’s most well-known and loved braai entrepreneur, Arthur ‘Boetie’ van Wyk (53), now kneads no less than approximately 15x12,5kg of roosterbrood every weekend…

Photo: Contributed

BRAAIKING ... Boetie van Wyk does what he does best.

STRATEGIC EXECUTIVE: URBAN PLANNING AND PROPERTY MANAGEMENT

Enquiries: Customer Care Centre, Independence Avenue

AdvertisementNOTICE FOR OBJECTIONS

ALLOCATION OF VARIOUS ERVEN BY WAY OF PRIVATE TREATY IN TERMS OF SECTION 63(2)(3) OF THE LOCAL AUTHORITIES ACT, ACT 23 OF 1992

The City of Windhoek intends to sell or lease properties or portions thereof as indicated in the table below by way of private treaty in terms of Section 63(2)(3) of the Local Authorities Act, Act 23 of 1992.

Maps with all the relevant information with respect to the Erven or portions thereof are available free of charge at the Customer Care Centre, Independence Avenue for inspection.

All interested parties are called upon to lodge their written objections, if any, in a sealed envelope in the GLASS BOX indicating “OBJECTIONS TO THE SALE AND LEASE OF VARIOUS UNIMPROVED PROPERTIES, NOTICE NO. 29/2017” by no later than 19 May 2017. The objections will be removed on 19 May 2017 at 11:00 and those submitted after the stipulated time will not be considered.

SALE AND LEASE OF VARIOUS UNIMPROVED PROPERTIES

Erf Township Size (m²) Street Zoning Council Resolution

Purchase Price (Excluding 15%VAT)

Purchaser

Portion A of Erf 4616 for consolidating with Erf 4377

Windhoek ± 654 Robert Mugabe Avenue

Public Open Space 294/10/2013 N$ 644,800.00 Owner of Erf 4377 Windhoek, Applicant being: Mr RA Correia

Erf 1956 Khomasdal 1639 Johanna Street Institutional 336/11/2015 N$236,000.00 Children Future Crèche Pre-Primary School

Portion A of Erf RE/45 for consolidation with Erf 353

Prosperita ± 200 Otjitenda Street Public Open Space 410/11/2012 N$167,800.00 Owner of Erf 353 Prosperita, Applicant being: Mr. Abe van der Merwe

Portion A of Erf RE/527 for consolidation with Erf 1321

Rocky Crest ± 120 Sando Road Public Open Space 55/02/2015 N$40,800.00 Owner of Erf 1321 Rocky Crest, Applicant being: Mr V Hashiyana

Portion A of Erf 369 for consolidation with Erf 375

Rocky Crest ± 112 Canary Island Road

Undetermined 188/07/2011 N$50,900.00 Owner of Erf 375 Rocky Crest, Applicant being: TK & KD Mwahafa

Sale of Erf 260 Kleine Kuppe ± 11,966 Sesriem Residential 175/08/2016 & 55/03/2017

N$9,963,000.00 One Square Property Investments CC

LEASE OF UNIMPROVED PROPERTIES

Erf Township Size (m²) Street Zoning Council Resolution Lease Amount per month

Lessee

Portion of Pasteur Street Windhoek ± 71 Pasteur Street Street 189/09/2016 N$956.37 Sisa Namandje & Co. Incorporated

Lease Area 1 ‘B’ of Fidel Castro Street air rights

Windhoek ± 388 Fidel Castro Street

Street

37/03/2017 N$23,796.15 Wernhill Park (Pty) Ltd

Lease Area 2 of Erf 8272 Windhoek ± 25 Wecke Street Street

Lease Area 3 of Erf 5741 Windhoek ± 114 Mandume Mdemufayo Road

Street

Lease Area 4 ‘A’ of Erf 8272 Windhoek ± 861.24 Wecke Street Street

Lease Area 4 ‘B’ 8272 Windhoek ± 567 Wecke Street Street

Lease Area 5 of Portion 6871

Windhoek ± 225 Mandume Mdemufayo Road

Municipal

Lease Area 1 ‘A’ of Fidel Castro Street air rights

Windhoek ± 904 Fidel Castro Street

Street

Leases: Mr. David A. Negonga Tel: +264 61 – 290 3304 Section Head: Housing Schemes, easeholds and Settlements Property Management Division

Enquiries: Sales: Mr. Kenneth Uirab Tel: +264 61 – 290 2547 Section Head: Property Sales and Acquisitions Property Management Division

Issued By: Mr. E. S Shipiki Manager: Property Management Division Department of Urban Planning and Property Management Notice No. 29/2017


While the whole game of it sounds foreign to many, it is seen as fun and worthwhile by those who do it.

One such person is self-taught forex trader Phillip Likando.

Likando is not just trading, he wants to teach others too.

Through his WordPress blog blackstreetworldwide, the 24-year-old wants to teach others too.

In an interview with The Namibian last week, Likando said he has been following financial markets since 2012, even before he understood them.

“Day by day, I made it a mission to learn something new. I knew the world financial system was bigger than what everybody else around me understood. After all, to create wealth, you need to manage wealth,” he reasoned.

To improve his understanding, he said he went on to study top-ics around accounting, corporate finance, investment management and entrepreneurship innovation management.

The Stellenbosch University graduate said he wanted to first understand business and banking.

“Secondly, I focused on un-derstanding one’s own personal investment portfolio options. Then, I learnt how to be involved in the management thereof,” he noted.

The banker by profession further said that he is blessed to have en-gaged and received a thumbs up on his journey from Innovus innova-tion agency in South Africa, from Mertech’s founder Francois van Niekerk, Naspers chairman Koos Bekker, and Colin Coleman. man-aging director of Goldman Sachs International, South Africa.

“I must say that through my re-search, in 2015 I identified Namibia’s then forthcoming economic woes, four quarters ahead of the technical recession,” he said, showing me the prediction letter which was pub-lished in The Namibian newspaper.

“Furthermore, in 2016, I predicted South Africa’s downgrade, three whole quarters ahead of the time as well. I also remember how I created

Self-taught, this young trader wants to teach others•NDAMANAKASHOLE

A currency trader, also known as a foreign exchange trader or forex trader, is a person who trades, or buys and sells currencies on the foreign exchange market.

a model for cattle to be exported with the use of derivatives during the time the drought in Namibia was at its worst. This was in order to manage price risks. I took too long, but thankfully innovation in the economy was at play, and such an option was announced,” he said.

He furthermore attributed all this to his willingness to learn, upped by doing a lot of research.

Likando is currently trading for-eign exchange derivates.

A foreign exchange derivative is a financial derivative whose pay-off depends on the foreign exchange rate(s) of two (or more) currencies. These instruments are commonly used for currency speculation and arbitrage, or for hedging foreign exchange risk.

“It is a fact that derivates are extremely complex. In finance, a derivative is a contract that derives its value from the performance of an underlying entity. This underly-ing entity can be an asset, index, or interest rate, and is often simply called the “underlying”. Derivatives can be used for a number of purposes, including insuring against price movements (hedging), increasing exposure to price movements for speculation, or getting access to otherwise hard-to-trade assets or markets.

As a result, I can find a way to trade exposure to any instrument on world-wide financial markets. Namibian institutions have used derivatives to execute some of the most crucial transactions the country has seen to date; that is a fact,” he stated.

The last six months, he has been tracking commodities and precious metals, including oil and gold.

His biggest wish? Likando wants Namibians to learn about financial markets, “otherwise we can never take charge of our own GDP growth and personal wealth.”

“We have financial institutions with many initiatives like FNB’s 100 million special SME Fund, Money Maximiser and Business 48-hour investment product. This is proof that it is time to be more proactive with our finances, especially the youth,” he noted.

He added that although the country has seen things such as the Financial Literacy Initiative and special work-shops to train women on finance, he is going to do his part to keep the ball rolling.

“The Harambee Prosper-ity Plan needs everybody’s in-put. This right here what I am

about to do is value addition to financial services,” he enthused.

He is going to give face-to-face training to 100 Namibians on how to trade, starting with forex issues, and how financial institutions could assist them to manage their business and personal finances.

So far, Likando has 271 subscrib-ers to his blog learning from South Africa and Nigeria, amongst other countries.

As a registered person, he is also an affiliate member of the South African Institute of Financial Markets, while as a Namibian active in the financial industry, he has a fiduciary respon-sibility to protect people’s financial well-being.

“We should be careful that there are many foreigners who claim that trading, especially forex, is the way to become a millionaire, the Bushiri type, and some who flaunt flashy things in order to convince you to part with your money. There is a difference between the real and the make-believe,” he warned.

He added that foreign players should abide by exchange con-trol rules, and respect the sound Namibian financial system.

“I shall rather teach people how to become wealthier, yes, but by using the right risk models. It is true the past week I made an over 17% return, but that is an attribute of my research. I have Bloomberg certification, which I successfully obtained this year,” he said.

Through Bloomberg, he learnt to understand how to tap into the world’s most adept financial market database and analytics in order to make informed decisions.

“I am going to start sharing my research with my students,” he said.

Likando constantly produces market analyses, and shares some tips on his blog: https://blackstreet-worldwide.wordpress.com/, which is also where he teaches those who subscribe. He is also available via Instagram as @PhillipoWorldwide.

“After all, it is clear Namibia is vulnerable to financial markets due to currency exposure. We are pegged to one of the most volatile and highest daily volume emerging currency, the rand, and we have debt issued in foreign currency. Financial institutions such as FNB Namibia Holdings make excellent provision for commerce and currency; that aspect is under care. It is now time for individuals to take charge of their currency exposures too. I am going to teach them how,” stressed Likando.

Day by day, I made it a mission to learn something new. I knew the world financial system was bigger than what everybody else around me understood. After all, to create wealth, you need to manage wealth.

– Phillip Likando

In pursuit of its vision to be a centre of excellence, the Bank of Namibia seeks the service of a suitably qualified, experienced and competent person to join its workforce in the position of:

SYSTEMS ENGINEER – IT DEPARTMENT

Duties and responsibilities:

The principal accountabilities for this position are to:

• Plan, install, configure and manage the Bank’s corporate server technology and Storage Area Network (SAN).

• Conduct effective preventative maintenance & health checks by monitoring the IT infrastructure landscape through early warning systems and provide capacity planning on the bank’s storage and virtual environment.

• Provide system documentation by maintaining and updating the IT operational manual, relevant IT procedures and set standards for IT Management on an annual basis.

• Implement and maintain data security, backup, replication, and redundancy strategies

• Provide 2nd and 3rd level technical support.

Knowledge and experience:

• A relevant Bachelor Degree or three-year Diploma in Information Systems with at least 4 years’ relevant technical experience.

• Knowledge of Server Administration and Configuration. • Understanding of networking technologies and concepts; exchange/

email configuration & administration and basic SAP basis.• Experience with Storage Area Networks (SAN) & Data Replication;

Virtualization Technologies; Disaster Recovery and Backup & Restoration.

• Expert in technical support and troubleshooting.

If this challenge appeals to you, please apply in writing and send yourdetailed curriculum vitae and certified copies of your qualifications (foreign qualifications must be evaluated) and identification documents to:

Deputy Director: Human ResourcesBank of NamibiaP O Box 2882WindhoekTel. (061) 283 5111oremail:[email protected] on our website: www.bon.com.na

Vacancy

Closing date: Friday, 19 May 2017Only short-listed candidates will be contacted and no documents will be returned to applicants.

If you don’t receive a response from us by Monday, 19 June 2017,consider your application to be unsuccessful.


















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p4 people’s paper. namibians shun ‘loan sharks’ · money, buying a farm, getting a promotion...

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