Cities Alliance is ‘a global partnership fighting urban poverty and supporting cities to deliver sustainable development. Its mission is to ‘enhance the well-being of urban populations by delivering innovative, multi-sectoral solutions to urban poverty.
It is recalled that ASTU-Cities Alliance project Phase I was a successful project. Phase of II of the project is underway. One of the activities to be accomplished by the phase II of the project is promoting job-creation/entrepreneurship through business & financial literacy training for domestic & returnee migrants, IDPs and vulnerable community members toward promoting inclusion, integration & decent job creation in Adama city.
The small businesses (informal self-business owners and MSEs - micro & small enterprises) are among the main drivers of economic growth, poverty reduction and job-creation and significantly contributing to the nation’s well-being. However, these small business owners are continuously faced with challenges to boost their businesses. The small business owners and those who wish to establish new business are continuously facing numerous challenges in accessing economic opportunities, including constraints to grow their business, lack of access to training & finance opportunities, unfavorable marketing and sales conditions, lack of knowledge or skills to financial management and gender-based discrimination. Moreover, starting business requires transforming an idea into business opportunity, and requires a clear vision and setting the objectives. It also requires examining the potential barriers that might be encountered during the process to ensure success.
To address these challenges, the phase II project office organized 1st round Business and Financial Literacy Training, for two days (Jan. 23-24, 2024 at ASTU). The training is expected to offer two component trainings: business training and financial literacy training. The business training part will cover a range of topics under 3 sub-titles: Start-my-business, Manage-my-business, and Grow-my-business; to address: business planning and management, marketing and sales, record-keeping, financial & general management, entrepreneurship and product development. The financial literacy training part will cover topics such as skills in practical financial issues such as empowering them with knowledge about credit, interest, savings, borrowing and effective loan management, and also evaluating the cost of personal financial services such as credit for major purchases, so as to improve the trainees' overall financial well-being. The training program will also provide networking opportunities, enabling participants to learn from successful entrepreneurs and connect with each other in their communities.