Sycamore Consult to host retirement planning training on November 29-30

After a successful wealth creation conference in Lilongwe in August, which was attended by Dumisani Ncube — the Zambia entrepreneur who is rated by Forbes as Africa’s second youngest millionaire at only 29 years old — Sycamore Consult has organised a Retirement Planning Training on November 29-30.

In encouraging interested participants to register for the training, Sycamore Consult’s Managing Director Audrey Mwala said “the majority of people get so scared of ever going on retirement — not because they don’t want to relax after working for years — but it’s because they know that once the salary ends, they will have very little money to live on”.

Sycamore Consult Managing Director, Audrey Mwala

“But this should not be so. There is need to get skills of how one can prepare for a good retirement where money is not a problem.

“It’s all possible by following practical tips that our trainers have personally used in their own lives and they retired with no stress,” she said, adding that the training will not be about theories from text book.

To register are asked to access the link:

In June, Malawi’s leading financial services institution NICO Group, also hosted a retirement planning seminary at in Blantyre, whose key note speaker was Financial analyst Lipunga — who said people retire from their professional jobs but they should not retire from working.

Under the theme: ‘Practical Guide to Preparing for Retirement’, Lipunga onspired the delegates that there is more to retirement preparation than just pension fund and savings — as people approach their retirement age, “some people have that fear of how they would meet their financial obligations, even for those who might have prepared for it”.

“It’s because people retire from their professional jobs but I say they should not retire from working,” he had said. “Planning for retirement is very important because you set goals and targets of what you should do instead of just sitting in front of the TV, doing nothing.

“When people see me with a briefcase, they always ask me, ‘didn’t you retire?’ This is a wrong mentality. Plan for a meaningful occupation that will keep earning you more money.”

He had said the planning should not necessary start as one approaches their retirement age but to set the goals as early as possible by chronicling the goals and targets set to assess if they are working or not.

Lipunga, who has engaged Malawians on how to build a better future for themselves, said it is terrifying for people to lose the trappings that go with the job they hold, thinking retirement is the lowest point of their lifetime.

“But this is a positive turning point towards a better life and as you plan for it, you set personal vision and mission and at the same time plan on how you would enjoy your life.

“I teach at a university for free because that keeps me focused and I enjoy doing it as it occupies me emotionally.”

Some of the plans he suggested included family size, family home investment, children’s education, holiday dreams, health requirements, retirement income and spiritual well being.

At the wealth conference by Sycamore Consult in August, Ncube was joined by other top notch local executives that included Audrey Mwala herself on ‘Steps to wealth creation’; Prophet Shephard Bushiri (‘Mindset change; How to think Big’); Standard Bank Malawi CEO, Phillip Madinga (Turning around business); Patricia Mwase (the entrepreneurship journey) and National Planning Commission Director General, Thomas Munthali (The Road to MW2063).

The conference was towards complementing the MW2063 theme of ‘An Inclusively Wealthy & Self-reliant Nation’ and Africa’s Millennium Developmental Goal of eradicating poverty.

Sycamore Consult is a leading training and consulting company with physical presence in Malawi and Zambia, but operating worldwide.

That summit complemented pillars of the MW2063 with a different wealth creation mindset for all by all — to avoid the challenges that were there in implementing Vision 2020 for Malawi.

Other speakers were:

* Napoleon Dzombe (How to start a business with small capital);

* Ngabaghila Chatata (The role of women in wealth creation);

* Madalitso Chipekwe (The role of youth in Wealth Creation;

* Eddie Kaluwa (How to start a successful business after being fired);

* Kondwani Ngwira (Partnerships-a key driver for large scale entrepreneurship);

* Stain Singo (Risk taking, a step of faith); and

* Sam Chiwanda (Operating beyond Malawi); Ahmad Hamwi (Using space to serve life on earth).

Sycamore Consult also held the first of its kind wealth creation in 2019 as National Planning Commission was developing the MW2063.

Speakers included Thomson Mpinganjira, Group Chief Executive Officer of FDH  Financial Holdings Limited; Simon Itaye — former Managing director of Packaging Industries now known as Nampak; experienced insurance professional, Stain Singo (who established his own insurance company, Smile Life); Mike Mlombwa (owner of Countrywide Car Hire); Jimmy Koreia Mpatsa of Mpatsa Investments; entrepreneur and philanthropist Napoleon Dzombe and Audrey Mwala amongst  several others.

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