Kutlo Motseta
5th December 2024
ABSA hosted a “Women’s Entrepreneurship” workshop at “Travel Lodge” in Block 8, Gaborone, Botswana, designed to assist entrepreneurs to improve their skills in business in order to bolster their financial assets and profitability.
“One of the objectives is to drive small medium and medium sized enterprises (SME’s) … create entrepreneurs … [we] realized [that] we need to mentor and hand hold SME’S and push cooperate businesses … share with them key learning [points] and insights that they need to know to grow business [and] share products that ABSA offers,” said Lesley Bradley, who is head of Business Development Stakeholder Management at ABSA Botswana.
The workshop also provided lessons on wealth creation and how ABSA funds and assists entrepreneurs.
“How we can we help so that you are ready to perform? … business is not just about making money but solving [market] problems … Target market scalability so that you can service a bigger market … we can advise as to where to shift money … [and] provide a relationship manager,” said Maungo Mooketedi, Chief Credit Officer at ABSA Botswana.
Mooketedi also urged entrepreneurs to keep data which relates to all aspects of their business, including entity products and the corresponding buying patterns of consumers.
Presentations were made on wealth creation and the requisite mindset.
“My favourite wealth creation principle … EMBRACE FRUGALITY,” said Bradley.
“Cook what you need, we over consume and end up in wastage … even at funerals there is too much spending [surplus deserts etc.]” … There’s no need for you to be wanting to get new a car … as soon as you drive out of the garage it loses 20% of its value. I am not saying buy a car wreck because that will also give you problems”.
She also presented on the differences between being rich and wealthy. Becoming rich can happen overnight though a windfall or once off payment, whereas becoming and remining wealthy requires a holistic way life, which extends beyond money but includes time and health wealth management.
“Adopt a healthy lifestyle … you don’t want to be doing [applying money making principles] 20 years into your plan from there we have to bury you”, she said.
ABSA holds the workshops throughout the country and will host again in the first quarter of 2025.
