By Own Correspondent

THE International Labour Organisation (ILO) recently launched an entrepreneurship program aimed at growing small businesses for locals.

In her opening remarks at the launch, Philile Masuku, the Country Office Director for Zimbabwe and Namibia said BG4YE component has already impacted 1,017 entrepreneurs (668 women and 349 men), generating 2,246 jobs (1,196 for females and 1,050 for males) in the districts of Hauna, Mutare, Mutoko, Karoi, Umguza, Masvingo, and Bulawayo.

The training has included business management courses like the Start and Improve Your Business (SIYB) and Sustainable and Resilient Enterprises (SURE). Additionally, it has enhanced the capacity of government officials from the Ministry of Women, Mines and Youths, and 22 Business Development Services (BDS) providers using ILO tools.

Financial Education training is intended to buttress what the above business management training have already achieved.  

The overall focus of the programme is to equip business and financial management trainers with the necessary knowledge, skills, interactive training methods, facilitation techniques, and development of training materials. The added goal is to ensure the programme's sustainability and replication in Zimbabwe beyond the support from the African Development Bank (AfDB).

“This Financial Education Training reinforces the achievements of previous business management training, which together, contribute to the objectives of the Decent Work Country Programme, National Development Strategy 1, Sustainable Development Goals, and Financial Inclusion Strategy. The African Development Bank’s High 5 Priorities, and the United Nations Sustainable Development Cooperation Framework. By fostering entrepreneurship, the project aims to drive economic growth and improve livelihoods, particularly for marginalized groups,” said Masuku.

Financial education equips women and youths with the knowledge and tools necessary to navigate the complexities of money management and the financial sector. It encompasses a wide range of financial competencies, including financial planning and budgeting.

 Critical components of the project include mastering skills such as setting financial goals, building a savings plan, creating a budget, tracking personal spending, managing debt, and planning for the future.