Motshelo groups advised on long term investment
Groups can spend as much as P100 000 on festive groceries
Local motshelo groups have been advised to invest the money they save instead of spending it all on food at the end of the year.
It became apparent that most motshelo groups are not privy to opportunities of growing their money at the recent Sefalana Motshelo Group Trade Show held at the Boipuso Hall at Fairgrounds Holdings in Gaborone.
“They basically save money to spend and some can spend up to P100, 000 on groceries at a time,” revealed Sefalana Cash and Carry Merchandise Executive, Dolores Adul, who added that though it is good business for the retail industry, the customers should also be protected.
She added that it was their responsibility as the retailer to ensure that ‘Metshelo’ grow and make real investments, not just cash.
During the trade show attended by various stakeholders being, Fast Moving Consumer Goods (FMCG) suppliers and distributors as well as financial institutions and financial advisors, Adul said it was about time motshelo groups started thinking of long to medium term investment opportunities instead of one year like they mostly do.
“Again instead of buying in bulk at one go, we encourage them to stagger their purchases so they invest some of the money while leaving allowance for fast movers like meat, vegetables and even essentials like the kids’ lunch pack,” she said.
Adul noted that the trade show was also facilitated so as to compile a database of all the Motshelo groups in the country, bring them together so they share their experiences while exploring the long term investment side of making one’s money grow.
SefaCash Franchise and Marketing Executive, Reginald Klinck said the trade show, which is the first of its kind in Botswana, was the retail giant’s way of giving back to the community.
Klinck also said hopes were that after the event, Sefalana would have drastically helped in changing the mindset of motshelo members, understood their expectations as well as what informs their purchasing decisions.
He also noted that Sefalana wants to build a relationship with their Motshelo group customers as often times they just see people getting in stores and buying immense amounts of groceries.
“Most of these groups’ purchasing patterns do not resonate with the standard principle of saving,” he said, noting that the bulk buying of these short term groups is anything but saving as sometimes the bulk items end up spoiling if not distributed amongst family members and friends.
“No one needs five bags of 10kg of rice at any one moment unless they are buying for a big occasion,” he noted.