Women attending financial literacy training
Zambia has a young population, with 65% under age 25, and over half 52% are under the age of 18, and the country’s Seventh National Development Plan (2017-2021), recognizes that Zambian youth can, with effective support, play a significant role in realizing its Vision 2030 to transition from a low to middle income country by 2030. Reports show that poverty among youths is very high and almost half of the households are headed by youth/child headed are aged between 15yrs to 24yrs, or ages 25 to 34yrs, are poor. Most rural youths are poor and from 15 to 24 year olds, 59.6% are poor, compared to 20.8% of their urban counterparts. Similarly, among older rural youth, ages 25 to 34yrs, almost three quarters (73.0%) live in poverty,
CCCYD under the sponsorship of DSIK embarked on conducting and enhancing trainings in Ndola to offer financial literacy education and actively promoting business men and women in the District.
The Micro – Business simulation trainings were very interactive and practical which gave the participants an open mind to be able to start thinking outside the box business wise and also having a platform to express themselves and relate their learnings to their real life situations in their businesses. It was attended mostly by the women coming from different business lines and backgrounds and experiences in conducting different business in the area. The know-How sessions conducted were on the importance of business growths, diversification, investments and also the importance of separating business money from personal money even when you are the owner of the business, you just have to be financial displined.
FORMATION OF GROUPS
The formation of groups has been the same all way through CCCYD trainings in all districts of Northwestern and other Province. How groups are formed is done in such a way that members are put in groups randomly, Numbers from 1 to 4 would be given to participants and those who got ones would be put in the same group and the same is done for the other numbers 2 to 4. Gender and education levels in the grouping was highly considered so as not to be gender biased or put illiterate participants in one group because the trainings required someone who can read and write and also any of the group members to act as a groups’ secretary.