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Encouraging entrepreneurs to improve their financial skills

Encouraging entrepreneurs to improve their financial skills

The One Economy Foundation YO! Team kicked off a two-day Financial Literacy Workshop this week with 45 participants, encouraging local entrepreneurs to get essential financial skills.

YO! Team Programme Coordinator, Miina Shakela opened the workshop and encouraged the participants to be open to learning and to networking. The representative from Bank Windhoek, Jenevieve Swarts stressed the importance of registering businesses with BIPA and detailed the business starter kit, sparking a lively discussion among the audience.

Founder of Kanyanga Media Group, Romanus Kanyanga urged entrepreneurs to leverage social media and align their businesses with their passion, and for participants to rethink their strategies if things are not working out. Riana Moster from FNB Namibia emphasised the importance of budgetting for SMEs and explained how it helps to manage finances and make informed decisions.

Lotto Nanghonda and Vitalis Haupindi from Yyeni AI team introduced AI platforms like ChatGPT and demonstrated their potential to up-scale businesses. Maggy Skrywer from the Ministry of Industrialisation and Trade provided valuable guidance on business registration, leading to an engaging Q&A session. She also detailed the annual duties and compliance costs for maintaining a Close Corporation, enlightening many on legal obligations.

One Economy said throughout the workshop, the participants actively engaged, sharing their thoughts and experiences. “This collaborative atmosphere fostered a rich exchange of knowledge, leaving entrepreneurs empowered and ready to apply their new skills to their businesses,” they added.

The workshop was sponsored by Visa and partnered with Nedbank, Bank Windhoek and FNB Namibia.


About The Author

Mandisa Rasmeni

Mandisa Rasmeni has worked as reporter at the Economist for the past five years, first on the entertainment beat but now focussing more on community, social and health reporting. She is a born writer and she believes education is the greatest equalizer. She received her degree in Journalism at the Namibia University of Science and Technology (NUST) in June 2021. . She is the epitome of perseverance, having started as the newspaper's receptionist in 2013.