Introduction to FLI
The Financial Literacy Initiative (FLI) is a national platform to enhance financial education for individuals and micro-small- and medium sized enterprises. Currently, the FLI consists of more than 35 Platform Supporters from the Namibian public, private and civil society sector aimed at working in a coordinated effort to improve the financial capability of all Namibians. The FLI was initiated by the Ministry of Finance and several Platform Supporters on 15 March 2012.
“An improved quality of life and a narrowed economic divide achieved through financially capable, assertive and well-protected Namibians.”
- Namibians are better financially educated and capacitated to make informed financial decisions throughout their lives.
- Namibians are able to choose and appropriately use the best financial products and/or services for their specific needs.
- Namibians understand and act upon their rights and responsibilities within the financial sector; they know about and make use of the appropriate recourse mechanisms.
- FLI projects are monitored and evaluated in terms of their efficiency; the FLI actively promotes and conducts research in the area of financial literacy of its projects and does research into financial capability.
About the Ministry of Finance’s Role at FLI
The Ministry of Finance hosts the FLI, and thus constitutes the legal entity of the Financial Literacy Initiative. Cabinet endorsed FLI in 2011 after recognizing the growing demand for financial education to complement Namibia’s financial inclusion agenda. The Ministry of Finance provides office space, personnel and basic infrastructure for the FLI Secretariat.
The Namibia Financial Sector Strategy: 2011-2021 – Bank of Namibia, of which the Ministry of Finance is the custodian, provides a clear mandate for FLI’s activities.
The Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH, on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), has supported Namibia’s efforts in the area of financial inclusion and the founding of the FLI since its initial first steps in 2009.
Financial literacy is key for financial inclusion, financial stability and economic growth leading to a prosperous and wealthy Namibia, where all Namibians have access to financial services, investment opportunities and business finance. The GIZ is honoured and proud to be part of the exciting and successful journey the FLI and all Platform Supporters are undertaking towards achieving this objective.
History of the Office Building
The FLI House, also known as the Kaiserliche Landesvermessung or Survey Office, was built in 1902, making it one of the oldest buildings in Windhoek.
Back then, it consisted of a large drawing office, a fireproof archive where maps were stored, and rooms for survey equipment. After standing empty for several years, it was restored in 1988 and used as the reservation office of Namibia Wildlife Resorts for several years, then became the Ministry of Finance’s Asset, Debt and Cash Management office and now hosts the FLI Offices.