Old Mutual, Girls in STEM Trust equip 1 000 women with financial literacy skills

DIVERSIFIED financial services company, Old Mutual Zimbabwe, has partnered with Girls in STEM Trust to equip at least 1 000 women and girls with financial literacy skills to enhance their entrepreneurial development.

Financial literacy refers to knowledge and skills around the use of money including budgeting, saving, investing, borrowing, and debt managing.

Economists view financial literacy as a critical enabler in running a successful business and growing the economy.

Last week the two organisations hosted a financial literacy launch programme in Bulawayo where different speakers shared insights with young girls and women who attended the event.

Guest of honour and Bulawayo Secretary for Provincial Affairs and Devolution, Mr Paul Nyoni, urged the young girls to embrace innovation and resilience as critical steps to driving enterprise success, understanding, harnessing and mastering the language of money.

“On money, it’s not just a catchy title, it’s a declaration because when women control their finances, we don’t just uplift ourselves but we uplift families, few communities and drive this nation forward,” he said.

“Financial literacy isn’t merely about budgets and bank accounts, it’s about freedom and having resources for children’s education and accepting the business envisioned for that particular time.

“Our Government, with initiatives like the National Financial Inclusion Strategy, recognises that empowered women are essential to Zimbabwe’s progress.”

Mr Nyoni said the National Financial Inclusion Strategy aims to bring financial services to the underserved, giving more women more access to tools they need to start businesses, save for the future, and protect themselves and their families.

“A young woman with a market stall who learns small budgeting multiplies her profits. She can hire others, giving them opportunities,” he said.

“A university student who understands investments may become a future leader in our financial sector. Girls who learn about saving build a foundation for their dreams, shattering the cycles they can hold families back.”

Old Mutual senior manager, group client services, Mrs Gladys Bugalo, said financial literacy skills must be taught at a tender age so that young women can accelerate progress and contribute more to the economy.

“As Old Mutual, we are here to share the aim of imparting knowledge and skills for the high school learners on the money programmes.

“On the money programme is a financial education initiative, which was created by Old Mutual to teach all Zimbabweans and the programme plays a pivotal role in African countries,” she said.

Mr Paul Nyoni

Executive director of Girls in STEM Trust Mrs Victoria Nxumalo said financial literacy training was a brilliant programme.

“As we have conducted a programme called ‘On the Money’ whereby, we give financial literacy training to girls and women in Bulawayo,” she said.

“In the past few years, we have seen positive results where girls have started to think about ways of making money.”

Girls in STEM Trust is an education non-profit organisation targeting to groom female leaders and pioneers in science, technology, engineering and mathematics with its headquarters in Bulawayo.

A representative from the Ministry of Primary and Secondary Education, Dr Priscilla Chibelo, said the programme was not only for financial literacy but fruitful collaboration with Old Mutual and Girls in Stem.

“The programme aims to train more than 1 000 girls and women in the business. This initiative equips girls and women with the necessary tools and knowledge to navigate the composites of the financial world and foster economic independence,” she said. — chronicle