- In celebration of Global Money Week, Uber and Old Mutual
have announced that they will be extending its free money management course
that took place in South Africa to its driver-partners in Accra, (Ghana), Lagos
(Nigeria) and Nairobi, (Kenya)
In celebration of Global Money Week, Uber and Old Mutual have announced that they will be extending
its free money management course that took place in South Africa to its
driver-partners in Accra, (Ghana), Lagos (Nigeria) and Nairobi, (Kenya). The
course reflects Global Money Week’s theme - Learn. Save. Earn. Driver-partners
attending the workshops will be empowered with the skills to manage their
finances to grow their income and save for the future. Workshops begin this
week and drivers will receive an invitation via email to reserve their seat.
Driver-partners across Africa are extremely important to
Uber and their own financial wellbeing is an ongoing priority. The technology
and flexibility of the Uber app enables driver-partners to start, run and grow
a small business on their own terms. By offering skills development in
financial management, Uber can assist entrepreneurs in building sustainable
businesses.
Recent statistics illustrate the contribution small and
medium enterprises (SMEs) make to high growth economies on the African
continent. The Kenya National Bureau of Statistics notes that there are over 17
million SMEs registered in Kenya, with these businesses employing half of the
Kenyan workforce. In Ghana, 92 per cent of companies registered are micro,
small and medium enterprises and contribute 70 percent to the country’s GDP,
while Nigeria has seen a 100% increase in small businesses in recent years.
However, this boom in entrepreneurship is not without its
challenges. The findings of a study conducted by Invest In Africa (IIA) and
Strathmore Business School illustrate that 70% of Kenyan SME’s fail within the
first three years of operation owing to a failure to scale up. Nigeria’s
national MSMEs survey conducted by the Small and Medium Enterprises Development
Agency (SMEDAN) in partnership with the National Bureau of Statistics (NBS)
notes that only 69% of SMEs have business plans and 95% have no form of
insurance. This lack of planning and financial savvy can cause the business to
fail in their early stages. Through targeted education and skills development,
entrepreneurs have a much stronger chance of ongoing success.
The Old Mutual On the Money workshops are free to Uber
driver-partners in Kenya, Nigeria and Ghana. By attending, they’ll learn to
understand basic money principles, develop healthy savings habits and plan a
path to financial well-being. The workshops were previously run in partnership with
Uber in South Africa with great results and positive feedback from the
driver-partners who attended.
Zweli Ngwenya, a driver-partner who attended the Old Mutual
On the Money workshops in South Africa says, “This course has helped me a lot
in learning how to plan my budget.”
Alon Lits, General Manager for Uber Sub-Saharan Africa says,
“Uber is a passionate champion of innovation, both in the transport sector and
in the development of entrepreneurs. With this partnership, we can foster the
skills of emerging entrepreneurs, empower driver-partners using our app to grow
their small business, support their families and begin saving.”
John Manyike, Head of Financial Education at Old Mutual,
says, “Global Money Week highlights the importance of money management skills
and we are excited to be able to play a role in helping entrepreneurs make the
most of their hard-earned money. Small businesses are key to driving inclusive
economic growth in Africa – and their success will ultimately benefit us all.
By extending this partnership with Uber across Africa, we are able to further
promote financial fitness across the continent.”
Driver-partners can book the workshop directly via an email
invitation.
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