OMUTHIYA, Namibia − "Financial literacy has shifted my mindset from just making omelettes to being an entrepreneur,” says Tuhafeni Shiningwali, a 20-year-old foodie who has turned a simple love for omelettes into a flourishing business.
Shiningwali is among 45 individuals from Omutsegwonime village in Omuthiya who attended and participated in a three-day financial literacy training and were provided with sexual and reproductive health (SRH) services by the United Nations Population Fund (UNFPA) in collaboration with partners, Financial Literacy Initiative (FLI), Kongalend Financial Services Rural, and the Society of Family Health (SFH) from 6 to 8 November 2023.
The training was provided as part of the UNFPA's Strategic Investment Facility (SIF)-funded EmpowerWELL mentoring and financial literacy programme. Access to financial services is a critical component of EmpowerWell, along with services related to sexual and reproductive health and gender-based violence response. By combining SRH mentorship and financial literacy, the programme aims to address not only health-related challenges but also condense the economic and societal disparities prevalent in these regions.
Learning to save money is a valuable lesson from financial literacy. It's not just about what I earn today; it's about securing a better tomorrow for myself and my family.
"Learning to save money is a valuable lesson from financial literacy. It's not just about what I earn today; it's about securing a better tomorrow for myself and my family,” said Shiningwali.
"Managing money used to be daunting; I would just spend it as I received it without saving any of it. However, financial literacy has given me the confidence to handle my earnings wisely. I now feel empowered to make informed financial decisions."
Tuhafeni's culinary journey began as a response to the financial challenges that kept her away from pursuing higher education after failing Grade 10. Living with her unemployed mother, the prospect of funding her schooling seemed distant. Undeterred, Tuhafeni, driven by her passion for omelettes, decided to make omelets and sell them in her neighborhood.
"Making omelettes isn't expensive, and it's something I truly enjoy," Tuhafeni remarks. "I saw it as an opportunity to do something I love while making a modest income for myself."
Participation in the financial literacy training brought a new layer of empowerment to Tuhafeni's business. Financial literacy training provided her with essential skills to manage the little income she is making from sales efficiently. "It gave me hope," she shares. "Hope not only to make a small living for myself but to dream bigger and grow my business. I want to own a restaurant one day!"
The provision of SRH services and information empowered Tuhafeni, and she welcomed the opportunity to form part of the beneficiaries. She indicated that she will pursue the opportunity of tapping into the financial service facility provided by Kongalend Financial Services to enhance and grow her business.
Namibia faces severe challenges with high youth unemployment (46.1%) and pervasive multidimensional poverty (43%), particularly in rural areas (59%) and female-headed households (46%). Disparities also persist in education and health services, varying by region, location, and gender, as highlighted in the Namibia Multidimensional Poverty Index Report 2021. To address these challenges, targeted multi-sectoral investments in the youthful population are crucial for Namibia to unlock the demographic dividend and foster sustainable development.
By providing financial products, information and services on sexual and reproductive health, and financial education to women and youth, the EmpowerWELL mentorship programme seeks to enhance their economic opportunities and empower them through skill development, knowledge transfer, and entrepreneurial support.
