How can SMEs leverage pension schemes, and in what ways is Mazima reaching out to SMEs and their beneficiaries?
The Mazima scheme can help SMES if they can de-risk their business models. This means that your business model must have been evaluated by the scheme and it is clear how you make money and that your financial model can generate profits consistently. Smaller schemes like Mazima have close to 1 trillion shillings, which can be an opportunity for SMEs. The fund managers who manage the funds may be conservative by nature, but they can deploy up to 15% of their capital into the SME sector.
What is the MLAMU product and what led Mazima to create it? What has the uptake been like for this product?
Retirement is a journey, and this calls for savings for both short- and long-term. Mazima realized that its members would be likely to withdraw retirement savings to manage emergencies, and it is from this discussion that Mazima thought of creating a dedicated emergency wallet. So, Mazima introduced an emergency savings scheme called MLAMU in August 2019There are currently 200 users and USD 30,000 on account.
How can MLAMU benefit the SME sector, and what does Mazima expect post COVID-19?
We found out along the way that good financial literacy demands that someone has a long-term savings fund and a short-term savings plan. From an innovator’s point of view, we are encouraging our employees to have a couple of months’ worth of savings for short-term purposes so that they have a fallback if terminated from employment or should an interruption such as COVID-19 happen. We also see a need for having employers talk to their employees about saving a percentage from their monthly salary for emergency purposes and not only the long-term.
Once the emergency savings (under Mlamu) are consolidated at scale at the end of a specific term, they become a source of working capital. Once you aggregate capital, it becomes usable by other people in other sectors. Mazima believes SMEs can benefit from such innovations.
Although it is not possible for a member of Mazima Scheme to borrow against their pension account, in order to support our members to cope with the ongoing pandemic, members who want to come and withdraw 20% of their savings to address current challenges may do so.
What kinds of financial literacy does Mazima provide to ensure its products and services are helpful to SMEs?
Prior to the lockdown, Mazima conducted a lot of community outreach. Now, the scheme has published books on investing for the future, addressing issues like retirement, emergency savings, and people having savings that can create capital.
Omukutu gwa Covid-19 Business Info Hub gwayogerako ne Mwami Livingstone Mukasa omutandisi wa Mazima Retirement Benefit Scheme (enkola y’okweteekerateekera ebiseera by’omumaaso ng’okaddiye) okusobola okutegeera engeri amakolero amatonotono gye gayinza okutumbulamu enkola zino.
Amakolero amatonotono gasobola gatya okuteeka amaanyi mu nkola z’okweteekerateekera ebiseera by’omumaaso era ngeri ki Mazima z’esobodde okutuukirira amakolero gano n’abo abagaganyulwamu?
Enkola ya Mazima esobola okuyamba amakolero amatonotono ssinga nago gaba gasobodde okuyiiya engeri gye gayinza okwewalamu okugwa mu butyabaga. Kino nno kitegeeza nti enkola y’emirimu gyo erina okusooka okwekenneenyezebwa era ne kikakasibwa nti ekusobozesa okukola ssente wamu n’okusigala ng’ofuna amagoba ekiseera kyonna.
Enkola entonotono ng’eya Mazima ziba ne ssente ezikunukkiriza eyo mu kase akalamba (1 trillion) nga guno guba mukisa eri amakolero amatonotono (SMEs). Abaddukanya ensimbi zino ebiseera ebimu bayinza okubeera nga beekwatakwata mu nkola zaabwe, naye baba basobola okuteeka ebitundu ebiwerera ddala kkumi na bitaano ku buli kikumi (15%) ku nsimbi zino mu makolero amatonotono.
Enkola eyitibwa MLAMU etegeeza ki era kiki ekyaleetera Mazima okugigunjawo? Enkola eno ejjumbiddwa kyenkana ki?
Okuwummula luba lugendo olwetaaga okwetereekerera nga kuno kusobola okuba okw’ekiseera ekitono oba okw’ekiwanvu. Mazima yakizuula nti ba mmemba baayo bayinza okwagala okuggyayo ku ssente ze babadde baterekera ebiseera by’omumaaso bazeeyambisa nga baguddeko ebizibu eby’amangumangu era wano we yasinziira n’erowooza ku kutondawo ensawo ey’enjawulo nga yo etunuulidde embeera ey’okwenganga ebigwa bitalaze. Nabwekityo mu mwezi gwa Muwakanya (August) mu mwaka gwa 2019 Mazima yatandikawo enkola y’okuterekera ebigwa bitalaze ng’eyitibwa MLAMU. Kaakano enkola eno ekozesebwa abantu abawera ebikumi bibiri (200) era ng’erina n’ensimbi eziwerera ddala emitwalo esatu egya ddoola ya America (30,000 USD).
Amakolero amatonotono (SMEs) gasobola gatya okuganyulwa mu nkola ya MLAMU era Mazima biki by’esuubira oluvannyuma lwa ssennyiga omukambwe (Covid-19)?
Bwe tuzze tutambula twakizuula nti obumanyirivu obulungi mu by’enfuna buba bwetaagisa omuntu okuba ng’alina akasente k’azze aterekera ebbanga eggwanvu wamu n’enteekateeka ey’okuterekawo ssente ez’amangu. Nga abayiiya, tuba tukubiriza abakozi baffe okuterekangawo akasente ak’amangu mu myezi emitonotono akasobola okubayamba mu mbeera nga bafunye ebizibu eby’amangu okugeza ssinga omuntu aba afiiriddwa omulimu oba ekintu ekirala kyonna ekiyinza okubataataaganya ng’obulwadde bwa Covid-19 bwe bukoze.
Na bwekityo tulaba nga waliwo obwetaavu bw’abakozesa okwogerako n’abakozi baabwe ku ngeri gye bayinza okuterekangawo akatundu ku musaala gwabwe ke basobola okweyambisa nga baguddeko ebizibu eby’amangu sso ssi kuterekera biseera bya mu maaso byokka.
Ssinga ssente z’ensawo y’ebigwa bitalaze eya MLAMU zikungaanyizibwa okumala ebbanga eggere, ate zisobola okukozesebwa ng’entandikwa. Kasita oweza ssente ezisobola okukola entandikwa, ziba zisobola okukozesebwa abantu abalala mu matabi ag’enjawulo. Mazima ekkiriza nti ebintu nga bino bisobolera ddala okugasa amakolero amatonotono.
Newankubadde ga mu mbeera eya bulijjo mmemba wa Mazima aba takkirizibwa kwewola okuva ku ssente ze ez’akasiimo, okusobola okubawanirira okuyita mu kaseera ka nnawookeera wa ssennyiga omukambwe, bannakibiina abaagala basobola okujja ne baggyayo ebitundu abiri ku kikumi (20%)ku ssentu zaabwe zibayambeko okuyita mu kusoomoozebwa kwe balimu kaakano.
Mazima esomesezza etya amakolero amatonotono (SMES) okusobola okukakasa nti by’ekola n’empeereza yaayo bibeera bya mugaso eri amakolero gano?
Bwe twali tetunnayingira mu muggalo, Mazima yategeka emisomo mingi mu bantu mu bitundu eby’enjawulo. Mu kiseera kino tufulumizza ebitabo ebikwata ku kutegekera ebiseera by’omumaaso nga tutunuulira ensonga nga okuwummula emirimu, okwetegekera ebibamba wamu n’okutereka ssente mpolampola ezisobozesa omuntu okufuna entandikwa.
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