- June 12, 2024
- Posted by: admin
- Category: Current News
HARARE-12 June 2024- Effective financial management is crucial for the success of any organisation, as it ensures that there is adequate cash flow to meet daily needs, while optimising the use of funds, enhancing shareholder returns, and identifying viable investment opportunities.
This was highlighted by the Director of Finance and Administration for the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI), Jacob Mukamba, during a three-day Finance for Non-Finance Managers workshop convened by MEFMI’s Business Development Unit in Harare.
MEFMI is a renowned regional organization that promotes sustainable economic development through macroeconomic, debt management and financial management capacity building. Emphasizing policy formulation, implementation, and analysis, MEFMI supports its 15 member countries in achieving macroeconomic stability, sustainable growth, and financial sector resilience.
The workshop, which is being attended by managers from countries that include Zambia, Eswatini, Botswana, Mozambique and Zimbabwe was running from the 10th-12th of June.
“We recognize that financial literacy is essential for all employees, regardless of their roles. A solid understanding of financial principles aids in informed decision-making, allowing for better analysis of financial statements, cost reduction strategies, pricing decisions, and selection of suitable financing options,” said Mukamba.
He added that the Finance for Non-Financial Managers course was organized with the aim of equipping participants from across the continent with the knowledge and skills necessary for sound financial management; which would ultimately lead to healthier organizations and economies in the region.
Facilitator of the workshop, Jonathan Dube; a Chartered Secretary and current President of the Chartered Governance and Accountancy Institute in Zimbabwe (CGAIZ) formerly CIS, outlined that finance is the “melting pot” of all business activities and transactions; urging all business leaders to be equipped on issues around finance.
For over 27 years, MEFMI has been dedicated to enhancing skills and building capacity across Africa, contributing significantly to economic stability and growth. This workshop aligns with its mission to promote best practices and raise awareness of both opportunities and challenges within the region.
Current MEFMI member states are Angola, Botswana, Burundi, Eswatini, Kenya, Lesotho, Malawi, Mozambique, Namibia, Rwanda, Tanzania, Uganda, Zambia, Zimbabwe and South Sudan, which signed an MOU to operationalize its membership in MEFMI on May 21.
ENDS!
For further information, please contact:
MEFMI Secretariat
Office of the Executive Director