We chat with Cathy Sibanda, an influential young leader and passionate finance literacy and inclusion promoter. She have been recognised as one of the influential youths on our continent (40 Icons of Change, the One Young World Summit, and the Obama Foundation Leaders programme)
Tell us about yourself – where were you born, and what was your childhood like?
My childhood memories are rich and varied. I was born over three decades ago in a small town called Lobatse, in the southern part of Botswana. What is childhood without family? –
definitely none! Through and around family, we create beautiful and fulfilling memories. I lost my mum at four years old and grew up with many cousins, uncles, and aunts. As for the children, we had a routine, it wasn't in black and white, but we all adhered to it. Sundays were for church without fail, school holidays were for visiting faraway relatives, and school days were strictly for schooling and studying. No playing was permitted when schools were open.
I can't help but smile as I go down the memory lane. Growing up in the nineties was fun, and I think ‘ama-2000’ have missed out. From playing with wool – ‘batho safe’ as we used to call it, to playing ball games where we would fill up bottles with soil, make balls from plastics, and get terrible scars from being tattooed with rubber by our brothers. Life was simple, but it was quite fun! I wasn't the loudest child; I was around the loudest. I was a reserved girl who loved the church, books, and writing. I spent the greater part of my life in Gabane, a village on the outskirts of the capital city, with my family, almost all my school years.
What are some of the things that have shaped your outlook and values in life?
I am a born-again Christian, and I believe God should be part of everything I do. That has shaped my principles and values in how I live my life. All other things stem from there. I am courageous and believe I can achieve anything as long as I put my mind to it. I can do all things through Christ who strengthens me – Philippians 4:13. In my world, there is no ceiling!
The sky is not the limit; that is why there are footprints on the moon. – Anonymous
I strongly believe that people should be accountable for their actions. There is no other way; you always reap what you sow. The world calls it k arma, but as a believer, I would like to believe that you 'reap what you sow' is most befitting. Treat others the way you want to be treated.
What inspired you to pursue the path that you have taken in your career?
Interestingly enough, my career is two-fold, although still within the line of Finance. My late uncle Donald – May His Soul Rest in Peace, whom I loved so much, ignited a passion for numbers in me at a very young age. For that, I am a student of Finance, and yeah, I have fallen so hard in love with it. I am intrigued by anything Finance. Finance and Investments remain an integral part of who I am.
A few years ago, I discovered financial literacy. Financial literacy brings light and life to me! I believe we all need financial literacy regardless of what we do, our social status, and just who we are. We can never divorce our lives from financial literacy; it's a part of who we are as people. I LOVE IT FOR EVERYONE. When I was doing my final year university dissertation for my first Finance degree at the University of Botswana, my dissertation was on "The factors affecting the development of an emerging capital market: A case of the Botswana Stock Exchange". It is through this work that I discovered that there is a financial illiteracy problem in my country. I was just a student by then but determined to make a difference. Exactly a year and a half later, the Financial Literacy Trust was born.
You have been recognised as one of the influential youths on our continent (40 Icons of Change, the One Young World Summit, and the Obama Foundation Leaders programme); please share your experience in this regard.
I remain humbled by all these accolades, and I do not take them for granted. It feels good to know that there is a big brother somewhere who marvels at your work. It has been an incredible journey, and the knowledge I have acquired from all these fellowships cannot be quantified. There is a little piece of the puzzle that each brought into my life, and I have not viewed leadership the same ever since. I have met many brilliant minds from Africa and the world. I always strive to be around people who are better and ahead of me so that I become a student. I apply this principle across, whether it's relationships, my professional journey, academics – anything in my life. My soul jumps when I look around me, and I see brilliance. Going back to the fellowships, if I was to sum it up all in one word – they echo one thing: leadership! It's served in different forms; grilled, boiled, fried, baked, parboiled, but you come out a seasoned leader.
In Africa, young people are generally not recognised for leadership roles. Why do you think it is important to have youth representation in leadership positions, particularly in political and economic spheres?
The future of leadership lies with young people. A youthful representation is not something in question, but it has become a necessity. We need the minds of the young people in politics and economics . As a continent, our fortunes can change if young people are allowed to lead. If you are yearning for real change, equip the young people.
Let's talk about financial literacy. What is it, and why is it important?
Financial literacy is having the skills and the knowledge to manage our financial resources effectively. Financial literacy enables one to manage their money effectively and have money skills. We all have a relationship with money, whether bad or good. Everyone has some emotions that are triggered the moment you mention money. Financial psychology helps us to deal with this.
Financial literacy, however, is beyond managing money; it touches all aspects of our lives. It's the glue that brings all the important parts together, whether it's budgeting, investing your money and watching it grow, paying your debts, or making career decisions. Financial literacy enables us to live our lives on our terms. When one is financially literate, they can do the things they want at exactly the time they want to do them. It’s amazing how one thing can help you gain control of your life. Everyone needs this, from the little children to our parents at home.
What work have you been doing in raising awareness on financial literacy, and what are some of the important nuggets people need to understand about money and financial independence? (Feel free to frame it the way you want).
I have done a lot of seminars on financial literacy and money management. I have taught extensively about budgeting. For me, budgeting is the core. Everything else hinges on a budget. We can never talk about financial literacy without mentioning a budget. For one to pay their debts timeously and as expected, they need a budget. If you desire to invest and grow your money, you need a budget. Our money and budgets should be inseparable.
My Top 5 financial nuggets:
Savings, savings, and more savings! This will become your best friend on a rainy day.
Stay in your financial lane. Do not try to impress friends with money that you do not have.
Money and friends/family do not mix. If you are to have good relationships, don’t lend money to friends and family.
Do not make other people’s financial emergencies yours!
No matter what, never stop building your emergency fund.
How do you unwind?
A good Netflix series plus popcorn, with either a thick fruit juice or ice cream.
What is the one thing you appreciate about being an African, and what is your favourite holiday destination in Africa?
Wow! One thing that gets me ecstatic about being an African is our unified diversity and the spirit of ‘botho’. We are diverse but still stand as one. Africans are the kindest people, and the spirit of both is present across the continent regardless of the part of Africa we are from. Africans are very welcoming.
My favourite destination in Africa is Cape Town. I love the beaches, mountains, weather and magnificent architecture. It is one place I would visit over and over again.
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