Poverty Alleviation Through Financial Literacy

A number of women from grassroots communities recently received training on how to improve their small businesses.

Poverty Alleviation Through Financial Literacy
Women receiving financial information

by Ashley Muremba


Participants who were drawn mainly from Zvishavane received life-changing skills through a training workshop hosted by Zimbabwe Women's Bureau (ZWB).


Twenty-five-year-old Sibongile Mangena hailed the training as an eye opener for women in rural communities as they need to understand the best practices of finances.


"Through the help of ZWB we received a peanut butter making machine and through financial education we are able to save our income from selling peanut butter in bulk." she said


The women also highlighted their grievances on access to financial inclusion and opportunities to reach their full potential in business.


Reserve Bank representative Audrey Hove educated women on financial inclusion attainment strategy which works with Sustainable Development Goals (SDGs) to raise women entrepreneurs.


"Participation in the economic decision making is crucial especially for grass roots women to build a nation of business corporates." said Hove


According to Food and Agriculture Organization of United Nations 2019 (FAO) women's gender roles not only limit their time but even mobility to access financial services.


ZWB field officer Angella Rihambe emphasised how access to good markets is a challenge for rural women.


"Lack of market and transport is a barrier because socialization restricts women to travel long distances or rather spend hours not at home in reach to financial institutions." said Rihambe


Courage Murambadoro from Impact Financial Services encouraged women to take up loans to boost their businesses.


"Grassroots women should take up loans to better their capital and always prepare their paperwork to apply for loans no matter how small their business are." he said


According to United Nations Educational, Scientific and Cultural Organization 2017 (UNESCO) two-thirds of women of world's adult illiterate population is made up of women, with women making up the majority and illiterate levels are highest among rural women