By Business Reporter
JUST over a week into ‘Ekwafo Letu’, a term Letshego Namibia has coined for its inclusive share offer or IPO (Initial Public Offering), nationwide community engagement sessions are well underway.
The community roadshow, which covers regions across Namibia, aims to drive greater financial understanding and literacy, as well as to promote the share offer as an opportunity for empowerment.
The first community session was held on 31 August in Ongwediva, in the Oshana region. Over 23 days, the Letshego roadshow team will travel an estimated 6 000 kilometres to host 18 community engagement sessions in more than 13 regions. The roadshow will culminate in Windhoek on the 21 September, one day before Letshego Namibia closes the share offer period.
Commenting on the progress of Ekwafo Letu, Letshego Namibia Chief Executive Officer, Ester Kali, expressed excitement over the team’s impact since.
“We are engaging with people who have never bought shares before, so this can be a new path to take for some Namibians. Educating the Namibian public about our share offer, what it means to buy shares, as well as empowering individuals about both the risks and rewards of buying shares, is our top priority. After Letshego Namibia lists on the Namibian Stock Exchange, we hope to see more Namibians participating in the trading of shares, generally, due to the knowledge they will have gained from the roadshow,” Kali said.
Letshego’s community engagement sessions leverage the proven impact of community theatre, where actors role play realistic scenarios, in order to engage audiences and explain and unpack technical and financial theories. The approach is an active demonstration of Letshego’s commitment to providing simple, appropriate and accessible solutions to the financially underserved, in a sustainable manner.
A member of the Oshakati community, where Letshego’s public education activations were being held, said: “It is an exciting time, as we learn from the engagement of Letshego in our community. It is not only about this new opportunity, but about a different way that we can invest our money. Now, we know more and we can decide for ourselves, and also plan our financial futures, through Ekwafo Lwetu.”
When the community sessions conclude in Windhoek on 21 September, the Letshego team would have reached and empowered more than 75 000 targeted individuals, across 13 towns and communities, with a minimum turnout of approximately 1 200 per town. This is excluding all urban areas. The community sessions cover seven official languages, while distributing educational literature with a clear financial literacy focus and inclusion.
Ekwafo Letu is Letshego Namibia’s sale of 20 percent of its shares to members of the Namibian public, through the Letshego Holdings Namibia (LHN) Initial Product Offering (IPO).
The IPO, or share offer, closes on the 22 September. This the last day on which members of the public can submit their offers to buy shares in LHN. Thereafter, no further offers will be accepted, and Letshego Namibia proceeds with the formalities to list on the Namibian Stock Exchange, which is expected to take place by the end of this month.
Confidente. Lifting the Lid. Copyright © 2015