Rethabile Pitso
FINANCIAL services provider STANLIB Lesotho (Pty) Ltd is set to host a corporate breakfast on 19 August 2016 meant to equip participants with financial planning skills at AVANI Lesotho Hotel.
STANLIB Lesotho is an investment management company that focuses on building investment propositions, which serve the needs of its clients. The company was established in August 2001 pursuant to the Government of Lesotho’s privatization and private sector development programme, and aimed to facilitate the participation of Basotho in the shares previously owned or held by Government in Parastatals.
In terms of shareholding its 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 co-organises different initiatives such as the Money Week initiative.
According to STANLIB Lesotho Business Development Consultant ‘Maretsepile Mohoanyane, the corporate breakfast would be held in conjunction with the University of Free State (UFS) and meant to equip clients and the general public with financial planning skills.
“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.
“The participants will receive training from certified financial planners on financial planning skills, best practices, life expectancy and the management of investment periods as well as goals and risks that affect investment. They will also give clients advice on how investors can reach their financial goals.”
Ms Mohoanyane said the event was part of efforts 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.
The lack of a saving culture among Basotho, Ms Mohoanyane said, 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 adequately.
Not only that, but people struggle to maintain their standard of living in their post retirement, because they are ill-equipped for necessary future demands such as health and insurance. The goal of this training is to ensure that Basotho’s perceptions about their future slowly changes, for their sake and the sake of their children,” she said.
