08 Jul 2024

Women have been urged to exercise proper money management in their businesses and personal lives.

Speaking at the Ngami women’s financial literacy workshop on Friday at Nokaneng, Ms Zenzele Hirschfeld of the Women of Works organisation emphasised the importance of separating business expenses from personal finances.

She stressed the need for setting aside profits to sustain business operations during financial challenges.

Ms Hirschfeld observed that women faced the mammoth task of caring for their children and families and failed to draw the line between business and personal money.

Ms Hirschfeld further said that the women in Ngamilad had great talents in dressmaking, beadwork, and basketry, which she said should be turned into businesses.

The facilitator, Ms Koketso Mphotho, a business development consultant in retail from Liberty Botswana, reiterated the significance of financial prudence.

She advised establishing a personal salary from business profits to avoid overspending.

She said that it was important for people to draw a budget at all times, regardless of their financial bracket. 

Ms Mphotho said that financial discipline starts at a personal level and encouraged entrepreneurs to conduct record-keeping and acquire relevant, affordable, easy-to-maintain equipment to avoid unnecessary expenses.

In an interview, one of the attendants, Ms Kesego Mochine of Etsha 1, who runs a decor company funded through the Poverty Eradication programme, appreciated the workshop and said she learnt a lot about proper money spending and the importance of saving part of the profit.

Another attendant, Ms Gabohithwe Tumediso, who operates a mobile toilet business in Gumare, said she gained a lot of knowledge about the significance of budgeting.

Ms Mavis Morwalela appreciated learning about record-keeping and prudent spending strategies.

In her welcome remarks earlier, Kgosi Bahuri Segano of Nokaneng encouraged women to support one another in businesses and those eyeing leadership or political positions. Ends