Mariental:Young entrepreneurs in Mariental have been encouraged to manage their income wisely, prioritize their needs, and nurture a culture of saving. This advice was shared during a financial literacy engagement organized by the Ministry of Finance in collaboration with the Mariental Urban Constituency Development Committee (CDC) office.

According to Namibia Press Agency, Senior Economist Hilya Uutoni of the Ministry of Finance emphasized the importance of avoiding unnecessary spending, particularly those driven by peer pressure and social expectations. She highlighted that repeated purchases of items already owned could deplete savings, urging participants to control their spending habits and focus on their needs.

The session covered budgeting, saving, financial products and services, and understanding the terms and conditions offered by financial institutions. Participants expressed concerns about bank charges and interest rates, questioning the adequacy of information provided to customers regarding fees deducted from their savings.

Uutoni advised those present to research and compare different banking options before opening accounts and to thoroughly read the terms and conditions to avoid unexpected charges. She also explained that saving through formal financial institutions supports economic development by providing funds for business loans, which enable expansion and job creation.

This engagement is part of the Ministry of Finance's outreach initiatives aimed at enhancing financial literacy among young people in the Hardap Region and promoting responsible financial management.