Financial literacy workshop held in Maponya Mall
The financial workshop aimed to equip the community with financial literacy and help them have a healthy relationship with money.
The Women Navigating the Future Network (WNFN) hosted its first financial literacy workshop at the Maponya Mall Community Hub to equip and ensure the community is well-informed on financial literacy.
With a lack of knowledge and access to information the biggest barriers to empowerment in the township economy, the WNFN aims to equip the community with that for them to make better financial decisions.
What they hoped to achieve by the end of the session was to boost financial independence, foster smart money management, promote economic empowerment and drive change in the community.
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WNFN network founder and CEO Mathabiso Moloi-Chamane gave insight into their goal.
“As much as this is named after women, I believe in inclusivity, meaning we include men because they make up the community as well.
“Our focus is gaining financial wellness through collecting knowledge from reliable experts,” said Moloi-Chamane.
She added that they chose stokvels as a way to empower the community into financial independence because they saw it work in black communities.
Vuyo Nombila, a financial steward, shared how she got to manage her finances. She said coming from a black household, she was never taught how to save until she found herself in debt.
Nombila said, “We all want to have a financial muscle but you will need to know where you are in stewarding your finances.”
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She spoke about emergency funds and how saving positively impacts one’s life and creates a healthy relationship with money.
Guest speaker Fulufhelani Mashapa, an actuarial specialist and the author of Mind your Cents emphasised the key pillars for fruitful personal finances like the importance of having a budget.
The residents were encouraged to collaborate with other stokvels and diversify to ensure the growth of the stokvel economy.
The workshop ended with the attendees networking with the speakers and gaining more insight from like-minded people.
