Africa: Bloom Bank Africa Empowers Liberian Businesses.

30 July 2024
The New Dawn (Monrovia)

The financial literacy training sessions covered budgeting, investment strategies, financial planning, and credit understanding.

Monrovia, July 30, 2024: Bloom Bank Africa Liberia Limited has organized a two-day financial literacy training program to empower local businesses.

The event took place at Bloom Training Center located at Bloom Bank Africa Head Office in Sinkor, Monrovia, from July 19 to 20, 2024.

The training, themed: "Managing Finance for You and Your Business," attracted micro, small, and medium enterprises (MSMEs) from various business and community groups.

They included the Manufacture Union, Liberia Initiative for Transformation (LIFT), Liberia Business Association (LIBA), Liberia Marketing Association, ELWA Palmbush Women, and Liberia Tailor Union Association.

Speaking at the occasion, Mr. Balogun, CEO of Bloom Bank, emphasized the importance of financial literacy for economic growth.

"At Bloom Bank, we believe that equipping individuals and businesses with financial knowledge is crucial for sustainable development," he said.

He noted that MSMEs are the catalyst of economic growth, accounting for over 95% of businesses and the largest employer of labor.

"This training aims to provide participants with the skills they need to manage their finances effectively and make informed decisions to assure their survival and growth and [most] importantly - access to finance to scale up," said Mr. Balogun.

The sessions covered budgeting, investment strategies, financial planning, and credit understanding.

Participants engaged in practical exercises and discussions, applying the concepts to their specific business contexts.

Attendees provided positive feedback, appreciating the opportunity to gain valuable insights into financial management.

The training offered both theoretical knowledge and practical tools for daily operations.

Bloom Bank and Africeller8 plan to continue their financial literacy initiatives, aiming to enhance the financial capabilities of individuals and businesses in the MSME space across Liberia.--Press release.

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