Port Elizabeth – In a series of financial wellness sessions, General Motors South Africa (GMSA) this week hosted a financial education workshop for the GMSA retirees and the Zinyonka Development Project, a community entrepreneur programme.
Presented by Absa Bank, the aim of the session was to provide and equip individuals with the correct knowledge and skills required to make informed financial and business decisions, including basic consumer rights and responsibilities and how to act on them when faced with consumer issues. Gcinashe Vambe, Enteprise Development Manager for ABSA Business Bank in the Eastern and Southern Cape, shared advice on how to apply for assistance from the bank, setting up a business plan and the importance of understanding your clients’ needs.
Elvis Hermans, GMSA General Manager Human Resources, said financial planning is an important life skill, as many small businesses often find themselves in financial difficulty simply because of making uninformed decisions. “We have a series of these courses during the year to ensure we benefit entrepreneurs as well as our retirees who started their own business,” said Hermans.
Participants in the workshop were financially assessed and linked with the necessary resources in their respective businesses.
GMSA has approximately 2 000 retirees with whom the company still actively engage. With two social workers managing the Retiree Helpdesk and a fully functional medical clinic, the retirees are kept active in the community. The Retiree Helpdesk organises regular activities and outings, facilitate a recreation club and assists those who want to start or get involved in income-generating and community projects. Amongst the groups they assist are a carpentry project, a soup kitchen for HIV/Aids patients and a vegetable garden.
Alan Straton
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