FNB’s Exchange Traded Note opens offshore investing for Namibians
By Michel Haoses.
FNB Namibia launched its Exchange Traded Note (ETN) this week, which the bank said will allow Namibians to participate and access listed instruments in international companies like Apple, Amazon, Berkshire Hathaway, and Microsoft for as little as N$10.
The ETN is listed on the Namibia Stock Exchange (NSX), allowing it to be purchased directly from the NSX stockbroker rather than the complicated method of first opening an offshore account requiring large investments.
This ETN programme will not only allow Namibians to gain exposure to quality international companies. Still, it will provide FNB customers with opportunities and an easy cost-effective manner to diversify their portfolios internationally.
RMB Head of Markets Mr Ian Erlank in a speech at the launch emphasised the importance of providing customers with all the necessary tools to make sound financial decisions and that the FNB ETN programme not only provides these necessary tools but also a chance for investors to access a broad range of asset classes, geographic regions, sectors, and sustainability profiles depending on their investment preference and objectives.
He further stated “The merits of financial inclusion are strongly rooted in empowerment. Access to financial solutions such as FNB’s ETN programme is the key link between economic opportunity and economic outcome. We believe empowering in individuals and families to cultivate economic opportunities through the diversification of their investment portfolios”.
Furthermore, this programme will also allow individuals who had previously been excluded from financial investment to benefit as this is a more affordable and wider investment opportunity. Ordinary Namibians now can benefit from their stake in Apple or Amazon.
From the left: Ian Erlank, RMB Namibia Head of Markets; Madeleine Smith, Managing Director of Cirrus Capital; Conrad Dempsey, Chief Executive of the FirstRand Namibia Group; Tiaan Bazuin, Chief Executive of the Namibian Stock Exchange and Philip Chapman, Chief Executive of RMB Namibia.
