Wesbank

Zebras’ players get financial literacy education

SHARE   |   Sunday, 06 July 2014   |   By Othusitse Tlhobogang

Botswana Football Association (BFA) in association with BancABC recently held a financial literacy workshop for national team players. The workshop was aimed at teaching and enlightening the players on the advantages of saving for the future.

Some local footballers that played at the highest level have had little to show upon retirement as investment to live on. The situation seems to have worried the BFA and the local football governing body saw it fit to educate players on the necessities of saving while they still have the opportunity. During the workshop BancABC officials taught the players all different ways of saving money and their benefits. Players were encouraged to open savings accounts for better lives after soccer since it can be a short career.

When addressing the Zebras players this week BancABC officials told them that as their sponsors they want them to lead a good life as well as do good for their country. BancABC country marketing manager Stephanie Stoneham said it is important for players to plan ahead instead of using all their money at the same time. Stoneham cautioned the players of living beyond their means, saying it can permanently cripple their financial records beyond recovery. Another official Thandie Leshomo encouraged the players to start opening their savings accounts now with the help of relationship officer to avoid investing in the wrong option that will hamper smooth sailing financial record. 

The move by Botswana Football Association and BancABC to educate players on financial literacy was welcomed as a good initiative by the football players.  Most of the players said this will go a long way in helping them.

Zebras’ assistant captain Boitumelo Mafoko thanked BFA and BancABC for the free education on financial matters. “I must admit some of us did not know the difference between these bank accounts, what we knew was that we can just use the ATM card to get the money,” said Mafoko jokingly. The midfielder maestro said the education is important because it promote saving. He said time has come for people stop keeping money in their houses but save it with banks. By so doing the Mafoko feels there will be reduced money loses and improved use of money for set targets.

One of the young players at in Zebras camp Bokamoso Moesa was very excited about the education he received, saying it will go a long way in helping him not only in football but life in general. Moesa told this publication that after the workshop he will open up a savings account that will help him in future should he need money.

BFA’s technical director Benny Kgomele also encouraged the players to save money while they still can so that they do not suffer at the end of their playing career.