FNB Namibia officially launched an Exchange Traded Notes (ETN) programme to allow Namibians to participate in the global investments economy by acquiring listed instruments in international companies like Amazon, Apple, Hathaway, and Microsoft for as little as N$10.
Speaking at the event, RMB Namibia Markets Head Ian Erlank highlighted the bank’s commitment to providing consumers with the necessary tools and information to help them make sound financial decisions that enhance their economic well-being. “FNB Namibia believes that the ETN programme not only presents excellent opportunities for diversification, but also allows investors to access a broad range of asset classes, geographic regions, sectors, and sustainability profiles. Depending on their investment objectives and preferences, investors can incorporate specific ETNs into their existing portfolios to expand their global exposure” he said. “The merits of financial inclusion are strongly rooted in empowerment. Access to financial solutions like FNB’s ETN program is a key link between economic opportunity and economic outcome. We believe in empowering individuals and families to cultivate economic opportunities through the diversification of their investment portfolios. We are excited to offer this program through brokers to customers.
Through harnessing technology and adapting to consumer needs, and within Namibia’s enabling environment for greater financial inclusion, the ETN program makes use of the concept of micro-investing for individuals” Erlank added.
Namibian Stock Exchange (NSX) Chief Executive Officer Tiaan Bazuin echoed Erlank’ s sentiments adding that the ETN product has been a long-time coming, especially for the retail market. “It’s a very auspicious occasion with the listing of the 10 ETNs and I’m very happy to see RMB and FNB come to the party and bring this product to the Namibian market. The NSX goal is twofold, it’s to deepen and diversify the market. As much as the ETN product leads to international exposure, it also goes a long way to that diversification angle which is part of our core business goal in terms of expanding the market. What’s also important is that FNB and RMB are starting to analyse their role in the capital market by expanding beyond the normal banking business” he said.
Because the program is listed on the Namibian Stock Exchange, the 10 ETN can be purchased directly through any local NSX stockbroker without the need for complex offshore account opening processes. Yet another way that FNB continues to lead the way with innovative financial solutions to the local market.
-FNB Namibia