-Any money that gets into your pocket is profit if there are no records-Sithole.
MILLICENT HUNGWE
Ministry of Women Affairs, Community, Small and Medium Enterprise Development and Tariro Youth Development Trust held a four day workshop on financial initiatives for entrepreneurs in Masvingo.
The workshop dubbed ‘Masvingo Entrepreneurs Financial Education’ was sponsored by the International Labour Organization (ILO) in partnership with the Ministry and Tariro Trust.
The four day highly interactive workshop was held at Masvingo Sports Club from Monday to Thursday last week and was meant to equip 30 enthusiastic students with essential financial skills to enhance their business acumen.
According to Fortune Sithole, the ILO programs coordinator, the training is a continuation of the Start Your Business courses conducted last year.
“The initiative focuses on promoting decent work through employment creation, rural industrialization, social dialogue, and adherence to international standards,” he added.
During the training, students were taught valuable skills, including setting and achieving short-term, medium-term, and long-term goals.
Benias Tivapasi, one of the trainees, shared that he has learned the importance of making personal and business savings to cater for risks and emergencies.
The training also covered critical topics such as budgeting, investments, accessible sources of funding in the community, and managing indebtedness in businesses.
Simbarashe Makuvaza, one of the four trainers, emphasized the importance of being a SMART spender, encouraging trainees to be strategic and responsible in their financial decisions.
The other trainers included Brian Guyo , Pihwai Ziso and Gracious Shonai, who collectively contributed to the students’ growth and understanding of financial management.
This initiative is a testament to the collaborative efforts of the ILO, Ministry of Women Affairs, Community, Small and Medium Enterprise Development and Tariro Youth Development Trust in empowering Masvingo’s entrepreneurs and fostering economic development in the region.
Through interactive short plays, the causes of default and indebtedness among entrepreneurs were effectively demonstrated.
The program aims to create employment opportunities for 1,000 young people nationwide.
This initiative is a partnership between the ILO, the Ministry of Women’s Affairs, Ministry of Youths, and Ministry of Mines, with funding from the African Development Bank through the government.
“We are also collaborating with business providers,” said Fortunate Sithole, ILO programs coordinator.
“This program is in two parts, focusing on employment creation.”
In Masvingo, 100 young entrepreneurs are receiving training, categorized into different business levels, using a starter pack to improve their businesses in four packages, The Mid-week Watch has learnt.
The four-day training focused on marketing planning, costing, procurement for business, and record-keeping.
“Any money that comes in your pocket is profit if there are no records,” emphasized Sithole.
The training was facilitated by four experienced trainers; Piwai Ziso, Simbarashe Makuvaza, Brian Guyo, and Bright Munamba.
“The training was meant to equip existing business owners with knowledge of the 7 Ps of marketing: product, price, place, promotion, people, process, and physical evidence,” explained Makuvaza.
“Additionally, we taught them effective stock management and control.”
Upon completion, participants received certificates, and a two-week assessment will follow to evaluate the implementation of the training’s teachings.
