FNB urges ‘financial savvy’

FNB Namibia has urged individuals and businesses to be financially savvy, to ensure a better 2017.
“We are all aware that 2016 was financially challenging for many individuals and businesses in Namibia, and as such, we need to be financially savvy to ensure a better outcome in 2017,” says Tracy Eagles, Chief Marketing Officer of FNB Namibia Holdings.
“In this climate we need to all pay attention to detail, keep a close watch on costs, while at the same time ensuring that our customers still receive the best value for money and best customer experience from us - as well as innovative products and service solutions.”
In 2016, most businesses and even Government faced some headwinds, due to reduced revenue, the ongoing drought and water crises, which affected agriculture and large construction industries, leading to elevated prices for imported products from South Africa.
The mining industry also faced some challenges, with plummeting commodity prices, declining ore grades, escalating costs, increased regulation and legislation to name but a few.
“At the same time FNB Namibia invested intensively in risk management, due to new regulatory requirements,” said Eagles. “Coupled to this, FNB has invested greatly in system updates, infrastructure and technology, such as the rollout of the new ADT ATMs, which reflect real-time deposits. While we always strive for better, quicker and safer banking solutions for our customers, this also means that we had to invest financially into making this possible.”
Eagles said FNB Namibia will continue to invest in staff and infrastructure, especially digital migration opportunities and innovative systems, to make life more convenient for customers and to include as many Namibians as possible.
“As we move into 2017, we realise that the economy is still under pressure. We are, however, confident that we have built a sustainable business that can grow under these conditions and we look forward to another year of asking, ‘How can we help you’, Eagles added.