With households across Namibia faced by rising food, fuel and rent prices, financial survival strategies have become essential. 

The latest Consumer Price Index (CPI) figures released in June 2024 reveal that the price of fruits has risen by more than 15.5%. 

Household staples, such as meat, cooking oil and dairy products, have surged by over 8% year-on-year. 

In the same vein, recent reports are that Windhoek consistently ranks among the most expensive cities in Southern Africa when it comes to rent, thereby creating additional strain on already-overstretched household incomes.

Adding to the urgency, a TransUnion Namibia Consumer Pulse survey conducted in June 2024 revealed that about half of all Namibians are struggling to pay their bills and loans on time. In addition, more than half have cut non-essential spending just to keep up with rising prices.

Against this backdrop, Old Mutual Namibia recently launched its first-ever Financial Education Masterclass.

This empowering module is designed to equip Namibians with the tools to take charge of their financial well-being. 

To ensure this opportunity reaches those who need it most, Old Mutual is issuing a nationwide public call, inviting individuals across Namibia to complete a short online survey and express their interest in attending a free masterclass session.

Old Mutual Namibia’s Group marketing, public affairs and sustainability executive Mignon du Preez said, based on the level of interest received, two regions will be selected to host the inaugural masterclasses. 

The announcement is set for 11 August 2025 through Old Mutual’s official social media pages. 

The sessions are scheduled to take place in September or October 2025.

“As part of our long-term commitment to financial education, Old Mutual is proud to expand the masterclass initiative to all 14 regions of Namibia. Starting in 2026, we will roll out the programme to two new beneficiary regions each year, following a structured, region-by-region approach. This ensures that, over time, every corner of the country benefits from increased financial literacy and empowerment,” Du Preez stated.

‘On the Money’ is Old Mutual’s financial education programme designed to simplify money matters through storytelling and relatable African metaphors.

The module will cover essential topics like budgeting, saving debt management, planning and investing equipping individuals to make informed and sustainable financial decisions. 

The programme has transformed lives across Namibia, reaching thousands of learners, youth, employees and entrepreneurs.

Additionally, participants will walk away with valuable knowledge, practical tools and a certificate of attendance as proof of their commitment to personal financial growth.

Financial literacy advocate and financial advisor at Metropolitan Helena Nestor said the importance of this masterclass will serve as an eye-opener to people to see the importance of financial literacy and why they should be educated about financial literacy. 

It will be a good platform to teach the importance of financial literacy.

“Saving is very important, as it allows one to have money to fall back on in case of any emergency financial issues that arise when one has run out of finances. Debt management is something that lacks in many, which causes a lot of emotional damage to people. One should come up with a budget on how they will pay back their debts. While planning on paying back the debts, they should avoid getting more debts,” she said. 

She pleaded with Namibians to attend the masterclass, as it will provide them with the financial knowledge that they need to use in their daily financial lives.

Nestor highlighted the importance of financial knowledge, saying it enables one to make wise financial decisions that are beneficial to their lives.