Martin Endjala
First National Bank of Namibia has opened up investment avenues for Namibians to participate in the global investment economy by acquiring listed instruments in international companies like Amazon, Apple, Hathaway, and Microsoft for as little as N$10.
The listed financial instruments are any assets that hold capital and can be traded, and this consists of shares, cheques, bonds, futures and options contracts.
FNB announced this last week during the launch of an Exchange Traded Notes (ETN) programme.
Rand Merchant Bank (RMB) Namibia Heads of Markets Ian Erlank, highlighted the bank’s commitment to providing consumers with the necessary tools and information to help them make sound financial decisions that enhance their economic well-being.
“FNB Namibia believes that the ETN programme not only presents excellent opportunities for diversification, but also allows investors to access a broad range of asset classes, geographic regions, sectors, and sustainability profiles. Depending on their investment objectives and preferences, investors can incorporate specific ETNs into their existing portfolios to expand their global exposure,” he said.
Erlank noted that the merits of financial inclusion are strongly rooted in empowerment. Access to financial solutions like FNB’s ETN program is a key link between economic opportunity and economic outcome.
He believes in empowering individuals and families to cultivate economic opportunities through the diversification of their investment portfolios.
He said the bank is excited to offer this programme through brokers to customers, by harnessing technology and adapting to consumer needs, and within Namibia’s enabling environment for greater financial inclusion, the ETN program makes use of the concept of micro-investing for individuals.
Namibian Stock Exchange (NSX) Chief Executive Officer, Tiaan Bazuin echoed similar sentiments adding that the ETN product has been a long time coming, especially for the retail market.
Bazuin said it’s a very auspicious occasion with the listing of the 10 ETNs, adding that he is very happy to see RMB and FNB come to the party and bring this product to the Namibian market.
As much as the ETN product leads to international exposure, he believes that it goes a long way to the diversification angle which is part of NSX’s core business goal in terms of expanding the market.
The CEO said he is pleased to see FNB and RMB starting to analyse their role in the capital market by expanding beyond the normal banking business.
With the programme now listed on the Namibian Stock Exchange, the 10 ETN can be purchased directly through any local NSX stockbroker without the need for complex offshore account opening processes.
This move by the bank he said, is a demonstration that FNB continues to lead the way with innovative financial solutions to the local market.
