Financial Literacy Crucial For Women Empowerment
Financial literacy has been cited as a key enabler crucial for women empowerment. This came out at a workshop facilitated by various microfinance banks.
by Chiedza Mutyavaviri
The workshop hosted by the Zimbabwe Women’s Bureau was meant to educate women from rural areas on financial literacy as a way of equipping them in making substantial financial decisions.
Addressing delegates mainly women at the workshop, Zimbabwe Women’s Microfinance Bank’s representative Barbara Muyengwa encouraged women to empower each other in term of business while making sure they are fully informed financially.
“Gone are the days when women would just sit and wait for men to work and provide for the family. Women can now be great business people as long as they are financially literate. Let us empower and teach each other as women.” said Muyengwa
Stakeholders who attended the workshop educated women on how to get loans to boost their businesses and also highlighted the importance of investing and insuring their property.
Most women confirmed that they were less educated on acquiring, investing, insuring and spending money. Zvishavane Women described the workshop as an eye opener.
“We thought loans were for those who have white collar jobs and those who work in urban areas, but I have learned that even vendors can get loans and boost their businesses.” said one woman from Zvishavane
Although women are empowered to own businesses and eke out a living, they struggle to make financial decisions which boost their businesses. These sometimes hinder them from advancing businesses and lives to a next better level. Women sometimes unwillingly squander money on less important things because they are financially illiterate therefore more workshops on financial literacy were said to be of great importance.
Financial literacy workshops are a step further to having literate women who can manage their finances rationally especially those in the rural areas.