Women from various sectors in Bulawayo received practical insights on financial sustainability, retirement planning, entrepreneurship, and change leadership, aiming to strengthen female leadership development through mentorship and collaboration.
This was during a belated International Womenโs Day event hosted by Emthonjeni Womenโs Forum on Friday under the theme: โFor all Women and Girls: Rights, Equality and Empowerment.โ
The event, attended by women from diverse fields including government, business and civil society, sought to honour women championing gender equality, gender-based violence (GBV) prevention, and female leadership.
It also aimed to equip participants with tools to navigate financial challenges and foster professional networking.
A social entrepreneur, microfinance practitioner, and banker, Thubelihle Ndlovu, delivered a session on financial sustainability and retirement planning.
She stressed the importance of financial literacy and discipline, urging women to take control of their finances.
โWhen it comes to finances, one thing about Africans is that we may look different, but we are wired the same. You must want money to move from other people to you, not for money to move from you to other people,โ Ndlovu said.
She warned against poor financial habits, such as overspending on payday.
โOn payday, you must have the ability to remain calm. Months can be very long when you have no money,โ she said.
Ndlovu also cautioned against falling for scams and making poor investment decisions.
โThe challenge is that financially illiterate people take advice from salespersons. Some talk about tragedy in unseen forces, but I will talk about facts. Do you budget when you receive your income? Financial discipline is when you graduate from savings to investment,โ said the advisor.
She introduced the 50-30-20 rule for budgeting, applicable to those earning between $0 and $10 000.
โFifty percent of your income must go towards needs like shelter, food, transport, and clothing. Thirty percent goes towards wants such as DSTV, which you can forego because you wonโt die without them and 20 percent must go towards savings,โ Ndlovu explained.
Ndlovu also categorised money into three types: solid money (out of reach), liquid money (in your bank account), and gas money (easily accessible).
โMoney under your pillow is not savings because you can access it, savings should not be in your reach,โ she said.
She advised women to invest in assets like land, gold, and livestock, whose value appreciates over time.
โIf you want your business to go to the next generation, walk with your children early. Start identifying the heir of your business. Donโt just give children money without explaining how you worked for it so that they can value the process and the money,โ she said.
A seasoned entrepreneur who has built a trusted name in the events management industry, Eunice Dlamini, Director of M and M Joyous Events, drew lessons from her personal journey and highlighted the importance of resilience, innovation and starting small.
โThe future is female, looking at where we are coming from and where we are going,โ Dlamini said.
โI came from a family of six. My mother didnโt go to school, but she was a resilient multitasker and a businesswoman in her own right. She instilled business acumen in us from a young age. I started selling vegetables as early as Grade 1,โ she said.
Dlamini encouraged women to embrace entrepreneurship, even in challenging economic conditions.
โWhen it comes to business, donโt think big, start small. If others did it, you can do it too. Be innovative and think outside the box,โ she said.
She also highlighted the importance of collaboration and financial discipline.
โJoin clubs with other women; these clubs help. Some will say put your money under the pillow, but something can happen, and you might use that money. With hard work and patience, it can be done.โ
Dlamini urged women to remain focused and determined while maintaining respect for their partners.
โDonโt be afraid of doing business. Be focused, determined, and hopeful. No one has been denied potential. Involve your partner diplomatically; even when running a business, you still need to respect your partner,โ she advised.
Provincial Development Officer in the Ministry of Women Affairs, Community, and Small and Medium Enterprise Development, Glory Damba, underscored the importance of such platforms in empowering women.
โEvents like these are crucial in equipping women with the skills and knowledge they need to thrive in their respective fields. They also provide a space for networking and mentorship, which are essential for leadership development,โ she said.
As the event concluded, women left inspired and said more sessions like these were needed so they could be equipped with tools to navigate financial challenges, plan for retirement and lead with confidence.