Online Reporter
Sikhulekelani Moyo, Zimpapers Business Hub
ABOUT 1017 entrepreneurs and 22 trainers have completed the National Financial Education Programme, a significant achievement that demonstrates commitment to building a financially literate and resilient society.
The initiative, implemented by the International Labour Organisation (ILO) in partnership with the Ministry of Women Affairs, Community, Small and Medium Enterprises Development, with support from the African Development Bank (AfDB), seeks to strengthen national capacities to deliver quality financial education across all sectors of society.
By equipping trainers drawn from the Government, the private sector, and business development service providers, the initiative ensures that financial knowledge is not only widespread but also practical, sustainable, and impactful.
In her address during the certification of trainers and MSMEs on Thursday, ILO Country Director Ms Philile Masuku stated that financial education is more than just understanding money; it is about empowering people to make informed financial decisions, manage risks, and capitalize on growth opportunities.
She said the trainers are now catalysts for transformation, bringing this vital knowledge and training skills to entrepreneurs, youth, women, and informal sector operators who form the backbone of Zimbabwe’s economy.
“I am reliably informed and glad that our partnership with the Ministry of Women Affairs and the AfDB on this programme has had positive results as follows: 1017 entrepreneurs, 768 Female and 249 Male entrepreneurs have so far been trained in Masvingo, Manicaland, Mashonaland East and Bulawayo Provinces to improve business management, resilience and grow their businesses, from a target of 1000,” said Ms Masuku.
“These have generated 2 246 jobs (1 196 females, 1 050 males), surpassing the target of 1 000 jobs.
“The trained entrepreneurs have since transferred skills acquired to at least 2 246 (1 196F and 1 050M) employees in their companies, and 80 percent of the businesses that benefited from the training are expanding into new business lines, indicating growth.”
She added that 80 percent of enterprises have sustained operations for over a year, demonstrating resilience and sustainability. Additionally, 50 percent of entrepreneurs have received support in formalizing their businesses, implementing systems such as QuickBooks, Point of Sale, and registering with local authorities and the Zimbabwe Revenue Authority (ZIMRA).
Through these initiatives, entrepreneurs have managed to access new market opportunities through linkages with value chain actors locally and internationally, using platforms such as the Comes 50 million African Women Speak, the Zimbabwe International Trade Fair, Manicaland Agricultural Show, and meetings with private sector players.
The SME sector in Zimbabwe has grown tremendously over the years and now contributes more than US$8,6 billion to the Gross Domestic Product (GDP), as well as employing 4.8 million people on a full-time basis.
In her speech which was read on her behalf by Ms Dorcus Bomero, Bulawayo Provincial Affairs and Devolution Minister Judith Ncube said the collaborative efforts between the Ministry of Women Affairs, Community, Small and Medium Enterprises Development, ILO and AfDB shows unwavering commitment to improving livelihoods, which aligns perfectly with Government’s vision for inclusive economic growth and empowerment under the National Development Strategy 1 (NDS1) and Vision 2030.
Minister Ncube said financial education is the cornerstone of sustainable economic development, which enables individuals, particularly women and youth, to make informed financial decisions, manage resources effectively, and build resilient businesses that withstand economic challenges.
“In our communities, we continue to witness how women and young entrepreneurs are taking up leadership roles, establishing thriving enterprises, and contributing to the growth of local economies,” said Minister Ncube.
“However, many still face barriers related to limited access to financial knowledge, credit facilities, and business management skills.
“It is through initiatives such as this Financial Management Training Program that we are bridging those gaps and laying a strong foundation for inclusive prosperity.”
The Financial Management Training Program is part of the Youth and Women Entrepreneurship and Innovation Multi-Donor Trust Fund (YEI MDTF) –Business Growth for Young Women Entrepreneurs Project (BG4YE).
It seeks to strengthen the capacity of young and growth-oriented female entrepreneurs and their workers to take advantage of profitable opportunities in various value chains, including off-farm sectors such as light manufacturing and agro-processing.
“By doing so, we are creating employment opportunities, enhancing productivity, and promoting value addition and innovation within our communities,” said Minister Ncube.
