Young girls to benefit from Ericah Shafudah Financial Management Foundation Trust

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WINDHOEK – On Friday October 17, 2014, Ericah Shafudah, the Permanent Secretary in the Ministry of Finance and Namibia’s Businesswoman of the Year 2013, randomly selected three beneficiary regions from which three schoolgirls will be identified to benefit from a trust she established called the Ericah Shafudah Financial Management Foundation Trust (ESFMF).

The selected three, once they have finished their secondary schooling, will be enrolled at the University of Namibia (Unam) for the next four years, to complete a degree in Financial Management focusing either on Bachelor of Accounting; Bachelor of Chartered Accountancy or Bachelor of Economics. They were randomly selected in collaboration with a local radio station.

The selected regions are Hardap, Kavango West, and Oshana. These regions were drawn during a live chat show hosted by the local radio station. The students will be identified from among those who have applied to pursue their tertiary education in the identified academic fields at Unam and who meet the application requirements.

The Trust will also budget for the accommodation and some other related needs of the three ‘lucky girls’.

The Trust’s main objective is to empower women with a focus on the financial education of Namibian girls.

As of August 09, 2014, the Trust managed to collect generous pledges from various companies and individuals that will solely be directed towards projects benefitting the schoolgirls.

The Trust has already put a part of the available funds aside to finance the studies of the three girls over the next four years, and will develop other projects during the course of 2015 aimed at empowering vulnerable women (young and old) in financial education and development.

The selected girls will also be mentored by financial industry experts. This will deal with all support, compliance, and what ever emerging issues the girls are confronted with. The trustees are tasked with keeping an eye on the performance of the girls and will be in regular contact with their families.

Towards the immediate future of the Trust, Shafudah mentioned that “the trustees prepared an annual plan after the launch and activities include further fundraising events, but trustees are most excited about the identification of the beneficiaries today, and we now work towards this project taking full flight.”

Shafudah is adamant that “the Trust beneficiaries should make good work of their sponsorship as to be a successful return on investment to the ESFMF”. “The beneficiaries from this project should demonstrate seriousness as the project will not entertain failure,” concluded Shafudah.

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