Future Leaders held their online session on 15 November 2020 on Financial Planning. Each Future Leaders session is driven by a different country therefore this session was spearheaded by Future Leaders ESwatini.
There were two speakers for the session namely, Ms Phindile Ndlandla Shabangu (ESwatini) who is a Chartered Accountant and Dr George Choongwa (ESwatini) who is an Economist. In this regard, Ms Shabangu highlighted the importance of individual financial planning by going through issues around budgeting and enablers of financial freedom. On the other hand, Dr Choongwa spoke about financial planning for SMEs. He highlighted the approaches to financial planning based on four pillars: cash, investment, capital and risk. Both speakers were adamant that financial planning is an important tool for any individual or business and the lack thereof is detrimental to growth.
Overall, the session was characterised by good engagements as young people engaged with the speakers on various issues. Key issues included budgeting in the absences of a permanent/stable income, the conditions to be considered when acquiring capital from a bank as well as investments.