Momentum launches wealth arm
NDAMA NAKASHOLE
Financial wellness products and services firm Momentum Namibia launched its wealth arm in the capital on Thursday.
Dubbed Momentum Wealth Namibia, the new offering gives access to customised and innovative investment products and services through all stages of one’s life. This includes those who are looking for growth, income or capital preservation.
Through this product, the company will provide customised local and global investment and retirement solutions for individuals, companies, close corporations and trusts.
It offers various types of portfolios, across a diverse product range that extends well beyond that of a unit trust provider.
One can choose to invest a regular or lump-sum amount with access to local and global investment markets.
The investment range includes the discretionary, pre-retirement and post-retirement products.
Hot seat
At the launch Derek Watts, the presenter of the popular investigative TV show ‘Carte Blanche’, put industry players in the ‘hot seat’ and asked them tough questions.
Lesley Rukoro, CEO of Momentum Namibia, said in his chat with Watts that people are saving less for retirement. Retirement savings had gone down by 7% while salaries had gone up by 20%, he said.
“Financial advice, whether it comes from a financial planner, from your human resources (HR) department or from the trustee… it plays a big role in convincing investors how to achieve their goals,” Rukoro said.
Hotter shots
Briefing Watts on the Namibian economy, local economist Rowland Brown said between independence and 2011, the Namibian economy was “on honeymoon”, and all was good.
In 2011, the country came up with a plan to try and help the economy grow. The Targeted Intervention Programme for Employment and Economic Growth (TIPEEG) was based on a “let’s borrow to spend” narrative with the hope of creating jobs and stimulating economic growth.
However, that ambitious plan took Namibia from being one of the most financially responsible countries in the world to one with high debt levels.
Asked for comment on inequality in the country, Brown said the situation was a symptom of a big problem.
Watts also asked Brown to comment on the recently scrapped policy requiring exploration companies to have 20% black managers. The economist said it was a step in the right direction. This requirement has not yet been scrapped for mining companies.
“When this condition was introduced a few years ago (2015), we saw a collapse in this sector,” he said.
Brown said the outcome was quite obvious because “you are killing the incentives” to attract aspiring explorers.
Brown said exploration is a risky business and one who invests in it may want the capacity he needs to do it.
Financial wellness products and services firm Momentum Namibia launched its wealth arm in the capital on Thursday.
Dubbed Momentum Wealth Namibia, the new offering gives access to customised and innovative investment products and services through all stages of one’s life. This includes those who are looking for growth, income or capital preservation.
Through this product, the company will provide customised local and global investment and retirement solutions for individuals, companies, close corporations and trusts.
It offers various types of portfolios, across a diverse product range that extends well beyond that of a unit trust provider.
One can choose to invest a regular or lump-sum amount with access to local and global investment markets.
The investment range includes the discretionary, pre-retirement and post-retirement products.
Hot seat
At the launch Derek Watts, the presenter of the popular investigative TV show ‘Carte Blanche’, put industry players in the ‘hot seat’ and asked them tough questions.
Lesley Rukoro, CEO of Momentum Namibia, said in his chat with Watts that people are saving less for retirement. Retirement savings had gone down by 7% while salaries had gone up by 20%, he said.
“Financial advice, whether it comes from a financial planner, from your human resources (HR) department or from the trustee… it plays a big role in convincing investors how to achieve their goals,” Rukoro said.
Hotter shots
Briefing Watts on the Namibian economy, local economist Rowland Brown said between independence and 2011, the Namibian economy was “on honeymoon”, and all was good.
In 2011, the country came up with a plan to try and help the economy grow. The Targeted Intervention Programme for Employment and Economic Growth (TIPEEG) was based on a “let’s borrow to spend” narrative with the hope of creating jobs and stimulating economic growth.
However, that ambitious plan took Namibia from being one of the most financially responsible countries in the world to one with high debt levels.
Asked for comment on inequality in the country, Brown said the situation was a symptom of a big problem.
Watts also asked Brown to comment on the recently scrapped policy requiring exploration companies to have 20% black managers. The economist said it was a step in the right direction. This requirement has not yet been scrapped for mining companies.
“When this condition was introduced a few years ago (2015), we saw a collapse in this sector,” he said.
Brown said the outcome was quite obvious because “you are killing the incentives” to attract aspiring explorers.
Brown said exploration is a risky business and one who invests in it may want the capacity he needs to do it.
Kommentaar
Republikein
Geen kommentaar is op hierdie artikel gelaat nie