Financial literacy training wins kudos

The Solwezi District Business Association (SODBA) has applauded the Zambia Chamber for Small Medium Business Association (ZCSMBA) for providing training to traders across the country.

Addressing traders during the entrepreneurship training workshop, SODBA president Allan Kabwata said the growth in economic development required skills and knowledge for entrepreneurs to thrive in their various businesses.

“It is a delight that ZCSMBA has recognised the need to train and provide skills and knowledge to various entrepreneurs running businesses,” he said.

Mr Kabwata said the training by ZCSMBA which aims at growing small and medium size businesses was important as it expands the skills and knowledge of business owners and create links with other business people and possible customers.

He noted that acquainting the business owners with skills and links with other business people would  ensure that small and medium size businesses grew into multi-million companies and inturn contribute to the growth of the economy.

The SODBA president however said there was need for a revolving fund which will aid the traders grow their business.

“Besides provision of skills and information, there is need for a revolving fund which can be used by traders to help expand their businesses,” he said.

He noted that ensuring that traders and other entrepreneurs thrive will create additional employment for youths in the province. Mr Kabwata noted that this would reduce the employment burden on the government and on the mines hereby translating into reduced levels of unemployment and an increase in national revenue generation.

The SODBA president urged the traders to make use of the skills acquired during the three day training workshop.

“This workshop will only yield results if the knowledge, skills and business tips you acquire from here are applied into the running of your business,“ he said

Mr Kabwata said every multi-million business begun small but grew with discipline and financial literacy which was what the workshop was providing.

And Germany Saving Bank Association in collaboration with the Bank of Zambia financial literacy project Country representative Peter Schussler said he was impressed  that more than 80% of the participants of the trainings in Zambia had improved their business operations.

Mr Schussler said the financial education project which was aimed at improving the financial knowledge of the population had yielded results with an improvement in a lot of businesses.

“There has been massive improvement in the businesses run by participants attending the financial literacy workshops” he said.

Mr Schussler said since 2013 to date, more than 5000 micro and small medium entrepreneurs all over Zambia had been trained.

Categorized | Business

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