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Sithandazile Moyo Business Reporter
PROMINENT banker Nigel Chanakira will this month launch an application software that will help entrepreneurs without sound accounting and financial knowledge to manage and run their businesses. In an interview, Chanakira said the application software can be used on smart phones and works for individuals and companies in business management.
“The application will cost $10 and it will help entrepreneurs who have no qualifications in finance and accounting to make financial statements and do several other things that need specialist training in accounting, finance and management,” he said.
He said financial illiteracy was one of the biggest problems on the continent and this had affected how businesses were managed.
The financial illiteracy, Chanakira said, called for the development of the application software that helps address such challenges.
“It can also be used as a banking information network and can help one monitor their cash flows,” he said.
He would not be drawn into disclosing more on the initiative.
“Those that are not good at calculating and do not have knowledge in accounting will find running their businesses much easier by using the software,” he said
Solusi University Dean of the Faculty of Business, Bongani Ngwenya said the technology was good progress for those that were running small and medium enterprises and encouraged entrepreneurs to get training to be able to use such technology.
Online Reporter