Coronavirus Relief Fund for Vulnerable women

Charity Centre for Child and Youth Development has strong establishments with communities in Northwestern Province. Financial literacy programmes have been one of the core businesses among other activities that CCCYD undertakes besides the financial empowerment progarm. For several years now CCCYD has conducted several trainings in different districts of North-western province of which Solwezi is one of the Districts. However, in the Month of June 2022 CCCYD trained 20 micro-entrepreneurs in financial literacy education. .

The objectives of the Micro Business Simulation (MBS) trainings are as follows:

• Understand what entrepreneurial thinking and acting means and apply it throughout the simulation
• Get to know challenges and opportunities of micro enterprises and how to react on them
• Understand basic accounting and controlling principles and apply simple financial tools throughout the simulation
• build up a deeper customer understanding and basic marketing knowledge
• recognize market dynamics and rivalry
• Know the relationship between micro finance institutions and clients and understand implications thereof.

CCCYD carried out the MBS training for some of its recipients of the Social Cash transfer and other micro business entrepreneurs to which some of them uses for business activities in order to lessen on government dependence. During the training participants were extremely expectant and some of their prospects were as follows:

• Understand how to grow a business
• Get certificates and capital
• To know how to calculate profit and loss
• To know how to handle customers
• Know how to overcome obstacles in business
• Know how to generate capital

Our organization realised that providing micro-loans to small scale entreprenuers without the financial education has contributed to a high number of defaulters hence affecting the micro-loan progarm. Therefore, this programs aims at empowering vulnerable entrepreneurs with financial education in the community as part of the Coronavirus relief Fund.