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Morris Mpala, MoB Capital Limited
IT’S about time people came out boldly and say they are financially illiterate so that those in the know can school such people .The Holy Book warns “my people perish because of lack of knowledge.”

We are worried at the number of kindergarten economic blunders exhibited by those in strategic positions. It’s sad to say the least. We can lie to others but at least let’s not lie to ourselves as it will compound the economic meltdown.

The first step to solutions is admitting there is a challenge and admitting the lack of knowledge, therefore, is crucial in finding a lasting solution.

When we don’t understand it’s advisable to admit then get good advice. We know ignorance is blissful but let’s not take pride in it as it is cancerous in the long run.

Only when we understand challenges can we offer sound solutions and the time for trial and errors isn’t now. Getting it right the first time means less of the limited resources are employed for “corrections “.

Even if solutions were prescribed how would we know if we are clueless? This is a serious challenge. We don’t seem to understand the challenges under our watch and this should not be cultivated any longer.

If we can’t interpret figures, statistical data or information, then how do we get out of the hole that we might find ourselves in? If we can’t read situations from that financial angle, what are we trying to do?

Figures never lie but liars always are. This is an old saying that still rings true today. Let figures talk to you but interpretation is always by people who are financially literate. The language of finance is an acquired taste that needs regular cultivation.

If we can’t make head or tail or we can’t figure out if we are moving or stationary how do we remedy the status quo if there is need to? In addition let’s not take solace in the number of people who don’t know but rather stick out as the knowledgeable one.

It takes real (wo)men to admit their shortcomings and seek advice rather than shooting in the dark and pretending all is well. This is costly.

Experience is the worst teacher in some instances. Be wise and learn from others so that we do not repeat the same mistakes because this lifetime is really short to be making so many mistakes yourself.

We wouldn’t grow if we have such an approach to learning economics. Learning and understanding is an art that is continuous and it’s healthy for perpetual corrective action and growth.

If we can’t do it for ourselves then we owe it to our future generations to start addressing economic issues accordingly now before it’s too late for any future remedies.

Inyathi ibuzwa kwabaphambili (literally means seek advice) is an old wise isiNdebele saying and it’s still applicable today. We can’t be know-it-all, we are better advised to go to those that know what we don’t know.

We need to catch them young. As early as possible let’s introduce financial learning so that it becomes our DNA, our culture. Once we grow up understanding financial freedom we then make it easy to live a financially well balanced lifestyle and we avoid many pitfalls that we seem to find ourselves in both in our personal and business lives.

Financial literacy can be perfected with time thus the need to constantly learn as we grow or as new challenges arise. And the best way is to introduce it early in our lives as learning anything is better suited when it commences early on in our lives.

Remember in our African culture the chief/king surrounded himself with advisors for his reign. Even the prince was always encouraged to understand the chief’s goings on before he could assume his royal duties. There was no substitute for experience, he had to earn his stars and stripes before he sat on the royal throne.

Wisdom was key and that came with observing and learning over a period of time to capture the essence of ruling by acquiring the necessary ethos that came with the territory.

Continuous learning is key in losing financial ignorance to make a difference. There is a need to increase our fountain of knowledge to drink from and widen our scope of comprehension to financial matters. Financial literacy comes with learning and learning comes after reading. Therefore, we need to invest our time into reading healthy literature that increases our take on economics.

Let us ask ourselves when is the right time to seek advice? When is the right time to be financially literate at whatever level you represent? Our families, communities and country at large, benefit from our exploits on financial matters. The beauty of being knowledgeable is the ability to anticipate stimuli and respond accordingly to your advantage.

For serious strategic transformational leaders you know you have to be financially literate to deliver to your sphere of influence or audience. We owe it to ourselves and those we lead. A good shepherd doesn’t lead his sheep to an economic cliff, let them fall and drown because he is not knowledgeable about the terrain.

A good shepherd takes pride in his financial wisdom, imparts it to others and uses it to safeguard the interests of their principal.

IF YOU LIVE IN BYO PLEASE CONSERVE WATER

IF YOU LIVE IN ZIMBABWE PLEASE USE ELECTRICITY SPARINGLY: SOS (SWITCH OFF SWITCHES)

IF YOU LIVE ON PLANET EARTH PLEASE PRESERVE THE ENVIRONMENT

Morris Mpala is the managing director of MoB Capital, a Bulawayo-headquartered micro-finance institution with footprint across the country.