Bannerman keen to make Batswana better spenders

NELSON DIRENG
Correspondent | Friday June 25, 2010 00:00

Bannerman, who hosted a seminar titled Let's talk About Money (LTAM) early this month, said he would host seminars on a monthly basis to address money issues. 'The seminars are in stages and the first one dealt with creating awareness,' he said.

He said most Batswana struggle financially because of the inability to save, having multiple debts, and lack of knowledge on how to make more money. He said these are however mere symptoms of the problem as problems range from habits such as emotional spending, and borrowing for consumption rather than income generation. Bannerman however said the solution is to change people's mindsets and attitudes. He said money empowerment is about establishing the root cause of financial challenges and providing tools and techniques to provide people with more money to live fulfilling lifestyles. Bannerman said LTAM was established for this main purpose. 'LTAM provides opportunities for change through information and instruction,' he said.

He said the Bank of Botswana (BoB) recently announced that Batswana households were not saving but Bannerman said this is due to the fact that people are not being effectively taught how to handle money. 'Money is in abundance and people should be taught how to tap into it,' he said.  One participant, who attended the seminar earlier this month, encouraged Batswana to make use of this opportunity, as there are currently no avenues for such information. The participant intimated that he is now determined to spend money based on financial vision and not emotion. The next LTAM seminar will be held on July 24 at the Maharajah Conference Centre in Gaborone.