GIST, Old Mutual impart financial literacy skills to women

The Government is incorporating financial literacy into learning systems where tertiary
institutions have entrepreneurship courses and is applauding efforts by the private
sector in targeting girls, Bulawayo Provincial Affairs and Devolution Minister Judith
Ncube has said.

As part of International Women’s Day commemorations, over 100 girls drawn from
various schools in Bulawayo yesterday underwent financial literacy training in an event
organised by Girls In STEM Trust and the Old Mutual Women’s Network.

The girls were empowered with financial literacy fundamentals such as budgeting,
savings, planning, debt management and investments.
Minister Judith Ncube
In a speech read on her behalf on Wednesday by Deputy Director Co-ordination in the
Minister of State office Ms Beulah Gwaze, Minister Ncube said it is critical for women to
be skilled in financial literacy as that empowers them.

“As we celebrate Women’s Month, it is important that we recognise the significant
impact which financial literacy can have on the lives of women,” she said.
“It is important that we acknowledge the interventions that Old Mutual together with
their partners, which are the Ministry of Primary and Secondary Education as well as
Girls in STEM Trust in facilitating financial literacy across Zimbabwe”.

Minister Ncube added that financial literacy is the knowledge and skills needed to make
informed and effective decisions. It encompasses budgeting, saving, investing,
borrowing, and managing debt.

The Ministry of Primary and Secondary Education
“When women are financially literate, they can access credit, start businesses, and
achieve financial independence. Financial literacy can also help women to break the cycle
of poverty and improve the economic well-being of their families.

“The benefits of financial literacy are clear and make a real difference in the lives of
women across the world. This is especially important in developing countries like ours,
where women are often marginalised and lack access to financial resources.”

Old Mutual Southern Regional Manager Mr Chrispen Nemunyadzo said they are keen on
equipping girls with financial literacy knowledge.

Ms Beulah Gwaze
He said in Matabeleland region they are targeting to train 700 girls and women this week.
“We realised that girls and women are sometimes left behind on financial literacy and
inclusion so we decided to run the programme targeting girls and women.
“The idea is that no one should be left behind on financial literacy so that they can make
informed decisions.”

Girls In STEM Trust (GIST) executive director, Victoria Nxumalo said it is a brilliant way
of celebrating women’s month imparting financial literacy as about 90 percent of
Zimbabweans are entrepreneurs, especially women.”

“In partnership with Old Mutual we are celebrating International women’s month
conducting a programme called On the Money whereby we give financial literacy training
to girls and women in Bulawayo.

“In the past three years we have seen positive results where girls have started to think
about ways of making money while in school.
“Some have come up with poultry and gardening projects and they are investing the
funds they are generating.”

Girls In STEM Trust (GIST), is an education non-profit making organisation targeting to
groom female leaders and pioneers in Science, Technology, Engineering, Mathematics
with its headquarters in Bulawayo.

Child minister for Women Affairs, Community, Small Medium Enterprises Development,
Awakhiwe Siziba said it was important for girls to be trained on financial literacy at an
early age as it is an empowerment tool that will shape their future.

“This is a powerful programme because as youths we are keen in venturing into
entrepreneurship.
“We are being empowered to know the importance of money, how it should be managed
when we venture into businesses,” she said.

Provincial Education director — Schools Inspector Dr Priscilla Chibelu, hailed the
training programme for girls saying financial literacy is crucial for individuals to make
informed decisions about their finances and achieve financial stability.

Junior Minister Of Women Affairs Community Small and Medium Enterprises Development,
Awakhiwe Siziba
“However, studies have shown that women and girls are often at a disadvantage when it
comes to financial literacy, as they face unique challenges and barriers that can hinder
their financial empowerment.

“Therefore, implementing financial literacy programmes specifically tailored to women
and girls can be instrumental in bridging this gap,” she said.

“These programmes provide education and training on topics such as budgeting, saving,
investing, and entrepreneurship, equipping women and girls with the skills and
knowledge they need to make informed financial decisions.”-The Chronicle