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Morris Mpala, MoB Capital Ltd
ECONOMIC hardships and social restrictions are a preserve of the majority. Poor, densely populated areas of our communities never experience unprecedented financial freedom. In these areas there is no financial inclusion and life is hard, socio-economic challenges are vast, moral decadence is highly stereotyped, aspirations are non-existence, shattered dreams, tired, old but young with no means and the smell of hopelessness lingers on.

Our history confined us to areas of subsistence lifestyle and banished us towards dependence syndrome. It’s a fact. I am not playing the blame game, far from it. I am an independent thinker. This has led to marginalised co-ordinates in our communities.

What is a financial ghetto?
It’s a place where people can embrace their poverty, accept that poverty does exist and that life is unfair. This is where lack is embraced and accommodated like never before but still live a “rich” life. It’s a place where you focus on yourself and never compete. We don’t think of tomorrow because abject poverty says tomorrow will never come. Or if it comes it would not find me alive so why take care of myself. We think crime will take us away from the financial ghetto. The culture and mind-set are also considered as financial and when you don’t think and act right, that is a financial ghetto.

Youth in the ghetto
Time is spent terrorising the community. Lack of ambition and loitering, aimlessly indulging in narcotics from proceeds of petty crime. School drop outs have under the bridge (at the bridge) conversations bordering around people, fantasy about crime and criminal activities, sadistic vices, mere unproductive talk. Dreams that one day they will be out of the ghetto and it will be all good.

Financial ghetto women
The women spend time on gossip, marriage thoughts, small projects, working hard against all odds. Long working hours with little earnings. Dreams about a great future for their children.

Business in the ghetto
They overcharge consumers though claiming convenience. No corporate social responsibility and at times act irresponsibly without care for the environment in the ghetto. Even local Government neglects these spots even though these are cash cows in some instances. It is an expensive community due to misconceptions or just purely profit maximization inclinations.

The financial ghettos are prone to spiritual manipulation, economic abuse, recipients of unproductive aid, neglect and undesirable thought process.

Light at the end of the tunnel
Hope and faith about a better tomorrow has to keep communities going. It is that hope that brings life and sustain it with faith in that one day. It will happen and people will have a better life. At times it’s just fate that one has a breakthrough and they will find themselves out of this vicious circle of poverty.

Crime has always been the easy way out of the financial slum given the limited means the populace has on the ground. Limited options sadly normally lead to such nefarious activities (without qualms) to book a ticket out of the financial rut.

Sports is another way out. You excel in sports and you will find yourself out of the financial ghetto. With the right thinking mind you find yourself out of the jaws of financial agony. A great mind is the biggest asset in such circumstances. The need to showcase role models from the same ghettos that have made it to tell a story of possibilities, chance and hard work.

Major investments in ICT in such areas has seen some youths embrace such skills to earn an income and prevent financial catastrophe. Nurturing artistic talents is another avenue that has alleviated the challenges experienced in financial ghettos.

Vaguely, we just need deliberate affirmative interventions in these financial ghettos be it mental ghettos or otherwise. Mental financial ghettos is now the major challenge, thus, we need mind-set change to come out of any rut that could have kept us in vicious circle of poverty.

Education is key to re-orienting the delusional child. Education does break barriers but the will power and sacrifices have to come from parents and the respective children alike to forge a combined motivation to break the chains of poverty. Need to introduce peer education, mentorship programmes and incubation centres, training in entrepreneurship agendas in the hope some will catch the bug and move out of the situation.

The need to desist from giving freebies to financial ghettos will emancipate such communities. Freebies, donation perpetuate the status quo and increases the bad and unwanted sense of entitlement, irresponsible and less accountable behaviour. We also need to be unconventional in that we should protect what we have but uplifting those without. Help raise communities to their best possible potential. If we don’t then those with nothing to lose will violently bring down those that have amassed wealth either fairly or unfairly.

Above all we require empathy when dealing with financial ghettos, it takes more than money to uplift such communities due to historical considerations.

And no one can claim they are not from a financial ghetto given our history as a nation.

Do not be fooled by your current status out of the financial ghetto because at one time you were also a financial ghetto superstar. Just advise on how you survived and eventually came out with your sanity levels intact.

IF YOU LIVE IN BULAWAYO PLEASE CONSERVE WATER. IF YOU LIVE IN ZIMBABWE PLEASE USE ELECTRICITY SPARINGLY SWITCH OFF SWITCHES (SOS). IF YOU LIVE ON PLANET EARTH PLEASE PRESERVE THE ENVIRONMENT

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