Windhoek
While there is no doubt that the financial sector plays a significant role in the economy, people do not always understand the products on offer. This was the concern raised by Ericah Shafudah, permanent secretary in the Ministry of Finance during the launch of the upcoming Insurance and Investment Summit.
During the launch at the ministry’s head office, Shafudah said the summitwould be an ideal opportunity for the sector to explain how they arrive at costing products.
She said the first-ever Insurance and Investment Summit, organized by Raotra Investments in partnership with the Ministry of Finance and the Namibia Financial Institutions’ Supervisory Authority (Namfisa) will also provide players the chance to showcase their services and products to the public. “This will be an ideal venue for the public to interact with players in the various financial sectors,” said Shafudah.
Speaking of behalf of Raotra Investments, its director Neville Basson said his company when looking at the industry recognised a gap in the market.
“Companies within the financial sector are used to selling a premium and not a product. And when claims arise these are usually coupled with massive confusion and utter frustration. Also, often insurance companies have investment products that clients are not aware of,” said Basson.
He added that he hopes to make the summit an annual event that will be hosted in the different regions.
The summit is open to the public free of charge and is scheduled for July 22 and 23 at Safari Court in Windhoek.