Spot­light on financial plan­ning

Lesotho Times - - Business - Lekhetho Nt­sukun­yane

FINANCIAL ser­vices provider STAN­LIB Le­sotho (Pty) Ltd will to­mor­row host a cor­po­rate break­fast in con­junc­tion with the Univer­sity of Free State (UFS) meant to equip par­tic­i­pants with financial plan­ning skills at Avani Le­sotho Ho­tel.

STAN­LIB Le­sotho is an in­vest­ment busi­ness that fo­cuses on build­ing in­vest­ment propo­si­tions, which serve the needs of its clients. It was es­tab­lished in Au­gust 2001 and is co-owned by Lib­erty Hold­ing (SA) and Sekhametsi In­vest­ment Con­sor­tium (Le­sotho) with man­age­ment re­sid­ing with STAN­LIB As­set Man­age­ment — a South African based as­set man­age­ment com­pany.

It is a mem­ber of the Financial Ed­u­ca­tion Steer­ing Com­mit­tee of Le­sotho whose role is to con­sci­en­tise Ba­sotho about the ben­e­fits of plan­ning and in­vest­ing to en­sure a bet­ter fu­ture and or­gan­ises the Money Week ini­tia­tive.

Ac­cord­ing to STAN­LIB Le­sotho Busi­ness De­vel­op­ment Con­sul­tant, ‘Maretšepile Monddy Mo­hoanyane, the cor­po­rate break­fast would be the com­pany’s first ini­tia­tive on its own to equip clients and the gen­eral pub­lic with financial plan­ning skills.

“All along, we have been part­ner­ing with other financial in­sti­tu­tions and or­gan­ised, among other events, the Money Week in June through the Financial Ed­u­ca­tion Steer­ing Com­mit­tee, which we re­main part of,” Ms Mo­hoanyane said.

“As a financial in­sti­tu­tion, it is our re­spon­si­bil­ity to teach our clients, and the pub­lic in gen­eral, about in­vest­ing and se­cur­ing their fu­ture. Our in­ten­tion is to en­sure that when Ba­sotho re­tire, they are able to pay their chil­dren’s school fees and main­tain a com­fort­able and sus­tain­able stan­dard of liv­ing. We are try­ing to help peo­ple to pre­pare for life be­yond their em­ploy­ment.”

She said se­nior man­agers from var­i­ous com­pa­nies had also been in­vited to re­ceive train­ing from ex­perts on how to im­prove their retirement poli­cies and em­power their em­ploy­ees.

“The par­tic­i­pants will re­ceive train­ing from cer­ti­fied financial plan­ners on financial plan­ning skills, best prac­tices, retirement plan­ning and how to im­prove their pen­sion funds,” said Ms Mo­hoanyane.

“The idea is to equip peo­ple with financial plan­ning skills the right way. Our aim is not to mar­ket STAN­LIB prod­ucts to them, but as part of the Financial Ed­u­ca­tion Steer­ing Com­mit­tee of Le­sotho, it is our re­spon­si­bil­ity to equip Ba­sotho with the skills to man­age their fi­nances bet­ter. It is part of our cor­po­rate re­spon­si­bil­ity.”

She added: “The financial plan­ning work­shop will be fa­cil­i­tated by Ad­vo­cate Shirly Hy­land and Dr Liezel Alsemgeest who are cer­ti­fied financial plan­ning lec­tur­ers from UFS’S Cen­tre for Financial Plan­ning Law, who also run other ex­ter­nal busi­nesses, in­clud­ing financial plan­ning and train­ing con­sul­tan­cies.”

Ms Mo­hoanyane said they in­vited the ex­perts so that the cor­po­rate break­fast does not seem like a mar­ket­ing cam­paign for STAN­LIB but serves its pur­pose of cul­ti­vat­ing a cul­ture of sav­ing for retirement.

“We are try­ing to in­still in Ba­sotho the cul­ture of in­vest­ing and pre­par­ing for the fu­ture. The financial plan­ners will deal with such top­ics as how to save for retirement show­ing the time­lines from the twen­ties to the six­ties and high­light­ing the fact that the ear­lier one starts sav­ing the bet­ter,” she said.

“They will also point out the fact that in­vest­ing does not mean putting up a large sum of money but a small por­tion on a monthly ba­sis. They will also delve into the is­sue of op­por­tu­nity costs re­fer­ring to the loss of po­ten­tial gain from other al­ter­na­tives when one op­tion is cho­sen as well as the re- per­cus­sions thereof.”

Ms Mo­hoanyane also noted that the lack of a sav­ing cul­ture among Ba­sotho had cre­ated a vi­cious cy­cle of gen­er­a­tional de­pen­dency.

“If we don’t save for the fu­ture, it means that, as par­ents, we are go­ing to de­pend on our chil­dren. Most peo­ple are strug­gling to build homes and pay for their chil­dren’s school fees be­cause they also have to take care of their par­ents who were not able to save for them­selves on time.

“Our aim is to help cul­ti­vate a cul­ture of par­ents leav­ing their chil­dren as­sets and not li­a­bil­i­ties,” she said.

stan­lib Busi­ness De­vel­op­ment Con­sul­tant ’Maretšepile Monddy Mo­hoanyane.

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