By: Joseph Jeremia
While Namibia boasts a decent number of literate youths proficient in reading and writing, there is a glaring gap when it comes to financial literacy among our young population.
But what does it mean to be financially literate, and how do financially literate individuals behave?
According to the National Financial Educators Council, financial literacy entails possessing the skills and knowledge on financial matters to confidently take effective action that best fulfils an individual’s personal, family, and global community goals.
Data from 2016 provided by the Financial Literacy Initiative (FLI) in Namibia revealed that, although Namibians generally have a good understanding of financial concepts, their performance in terms of financial behaviours was significantly lower.
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