Financial Literacy - Comoros
In Comoros, national policies that promote and support women's entrepreneurship generally aim to increase the resources available to women entrepreneurs, including their skills, financial resources and networks. This typically involves providing entrepreneurship training, coaching and mentoring, as well as helping to build entrepreneur networks and easier access to finance .
In addition , there is a need for capacity building of women entrepreneurs, particularly in the area of accounting and financial management . The implementation of a financial education program is essential.
According to the Organization for Economic Co-operation and Development (OECD), financial education can be defined as:
quot the process by which consumers and/or investors improve their understanding [knowledge] of financial products, concepts and risks and, through objective information, education and/or advice, acquire the skills and confidence necessary to to be more receptive to financial risks and opportunities, to make reasoned choices, to know who to contact in case of difficulties, and to take other effective measures to improve their financial well-being ”.
Financial education is divided into five pillars:
Get organized : Individuals learn to have a clear and organized view of their personal finances. In this regard, he is able to carry out administrative procedures, to carry out financial transactions in complete security, and to determine what his income and expenses are in order, among other things, to determine his future financial needs.
Responsible management : Financial education also involves consumer education, ie the ability to make choices taking into account one's budget .
Plan : Financial education aims to establish good practices in the daily management of one's finances by addressing how to manage a budget, save, borrow, or insure oneself. These are pillars of financial education which aim, among other things, to be able to look to the future with serenity.
Risks : Risk management is increasingly a central concept in the relationship of individuals with their money. It is much more than the risks inherent in investment products . Individuals must be able to measure the risks of certain behaviors in relation to money (pay bills before buying the latest iPad), know how to read a contract or even understand that personal financial data should not be communicated to everyone. goes.
The financial landscape : The understanding of basic financial concepts such as the mechanism of inflation, or the management of the budget of a community or a region, for example, are an integral part of financial education. The role of the Belgian and European institutions, and the rights and duties of individuals in relation to these institutions are more abstract and complex elements but which form an integral part of the quotknowledgequot which one must have in order to manage one's personal finances effectively, and to be a citizen capable of participating in democratic choices.
Financial education training providers
Chamber of Commerce, Industry and Agriculture of the Union of the Comoros (UCCIA)
The Union of Chambers of Commerce, Industry and Agriculture (UCCIA) brings together the island chambers and its headquarters are in Moroni. The UCCIA is a public establishment, of a professional nature, placed under the supervision of the Ministry in charge of the economy. It is a central point of contact for investors and exporters. The UCCIA acts as an interface between the private sector and the public authorities and works to develop economic and commercial activities in the Union of the Comoros.
Harbor Road, BP763,
Tel : +269 773 09 58
Directorate General for Women's Entrepreneurship
Created in 2008, the Directorate General for Female Entrepreneurship (DGEF) is placed under the supervision of the Ministry of Youth, Employment, Labour, Professional Training and Integration, Sports, Arts and of the culture. It has defined in its missions to develop training actions adapted to women's entrepreneurship and its conditions of exercise.
House of Employment
Moroni-Union of Comoros
Tel : +269 7644284