09 Apr 2024

Amid interventions targeted at accelerating economic diversification is Chema Chema Fund, whose beneficiaries are urged to unlock opportunities presented by value chain development.

The advice by Women in Business Association (WIBA) president, Ms Nametso Ntsosa-Carr suggests that beneficiaries should not skew their ideas into one line of service offering, but find ways to complement one another’s line of trade.

Speaking in an interview with BOPA Monday, Ms Ntsosa-Carr said it would not make a sound economic decision for people in one community to trade in the same service or product, stressing that it was paramount to build diversity.

Ms Ntsosa-Carr added that those at the end of the business process including potential customers should endeavour to support Chema Chema beneficiaries by procuring largely from them.

This, she said, would certainly help businesses to service loans and possibly build programme resilience for more beneficiaries yet to come.

Ms Ntsosa-Carr urged the implementing agency (CEDA) to consider extending the grace period for paying back the loan beyond three months, arguing that market access would remain a challenge for beneficiaries in remote areas.

She said the rural market together with rural dwellers’ buying power could not match the towns’, hence her plea not to use a blanket approach servicing the loan.

She advised beneficiaries to cultivate a winning mindset and business etiquette to remain steadfast in running sustainable entities which could ultimately add to the nation’s GDP.

She said beneficiaries should embrace professionalism and cleanliness to attract customers to their businesses, adding that nowadays businesses were bound by quality standards that ought to be met by all means.

“At WIBA we have already trained our members in a myriad of improve-your-business courses including customer service, record keeping, quality management and financial literacy. We hope these trainings would have a bearing on our members’ businesses,” she said. She urged business owners to normalise opening bank accounts to save proceeds on a daily basis to avoid mugging. She said they should also develop a relationship with the bank.

Ms Ntsosa-Carr urged qualifying women to rise to the occasion and work towards changing, helping diversify the country’s economy. Ends