MEFMI hosts 3-day finance training workshop for non-finance managers

A THREE-DAY ‘finance for non-finance managers workshop is underway in Harare where regional participants under the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) are being taken through intense training covering a range of professional aspects.

The event, which began on Monday ending Wednesday, is being convened by MEFMI’s Business Development Unit and attended by managers from countries that include Zambia, Eswatini, Botswana, Mozambique and Zimbabwe.

MEFMI is a specialised regional organization that promotes sustainable economic development through macroeconomic, debt management and financial management capacity building.

Participants follow proceedings at the Macroeconomic and Financial Management Institute of Eastern and Southern Africa

Emphasizing policy formulation, implementation, and analysis, MEFMI supports its 15 member countries in achieving macroeconomic stability, sustainable growth, and financial sector resilience.

Effective financial management is crucial for the success of any organization as it ensures that there is adequate cash flow to meet daily needs, while optimizing the use of funds, enhancing shareholder returns, and identifying viable investment opportunities, said MEFMI director of finance and administration, Mr Jacob Mukamba.

“We recognize that financial literacy is essential for all employees, regardless of their roles. A solid understanding of financial principles aids in informed decision-making, allowing for better analysis of financial statements, cost reduction strategies, pricing decisions, and selection of suitable financing options,” he told participants.

Mr Mukamba added that the finance for non-financial managers course seeks to equip participants from across the continent with the knowledge and skills necessary for sound financial management, which would ultimately lead to healthier organizations and economies in the region.

Participants follow proceedings at the Macroeconomic and Financial Management Institute of Eastern and Southern Africa

Workshop facilitator, Mr Jonathan Dube, a chartered secretary and current president of the Chartered Governance and Accountancy Institute in Zimbabwe, formerly CIS, said finance was the “melting pot” of all business activities and transactions; urging all business leaders to be well equipped on issues around finance.

For over 27 years, MEFMI has been dedicated to enhancing skills and building capacity across Africa, contributing significantly to economic stability and growth.

This week’s workshop aligns with its mission to promote best practices and raise awareness of both opportunities and challenges within the region.

Current MEFMI member states are Angola, Botswana, Burundi, Eswatini, Kenya, Lesotho, Malawi, Mozambique, Namibia, Rwanda, Tanzania, Uganda, Zambia, Zimbabwe and South Sudan, which recently signed a MoU to operationalize its membership in MEFMI on May 21.-chroncile