SME AS THE FOCUS FOR FINANCIAL LITERACY INITIATIVE

“THE NUMBER

ONE PROBLEM

WITH TODAY’S

GENERATION

AND ECONOMY

IS THE LACK

OF FINANCIAL

LITERACY”

Alan Greenspan said those words and is the reason the national Financial Literacy Initiative was estab-lished – to eliminate this problem.

The Initiative has been busy with activities to edu-cate the nation at large.

Since its first year celebration on 15 March 2013, the Initiative’s activities have been growing, with the focus being more on micro, small and medium enterprises. One of its activities, which focuses on educating MSMEs in Namibia, is training through the FLI, which has trained more than 1,000 mi-cro-enterprises.

FLI has partnered together with a service provider (SME Compete) to implement a Training-of-Train-ers Programme to train SMEs to go out to the differ-ent regions of Namibia and train micro enterprises on the basics of finances and money management. According to the trainers, the micro enterprises ap-preciate the training, deems it beneficial and sees the training as the light needed to grow their business.

This is the reason the Initiative decided to upgrade its training manual to cover the SME segment of the market. The initiative with SME Compete is in the process of developing a training manual to cover the needs of SMEs. With this new manual, which specif-ically targets SMEs, the aim is to reach more SMEs in need of financial knowledge.

Riturumikua Hei

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