FINANCIAL services firm, Old Mutual Zimbabwe (OMZ) has trained 85 AFM pastors who will to pool their resources to form a capital fund under the ‘Royal Emeritus Initiative 2030’ to invest and manage their funds effectively.
A capital fund is a pool of financial resources set aside for specific purposes, usually for long-term investments, acquisitions, or infrastructure projects.
These funds are often used by companies, non-profit organisations, or governments to finance large-scale projects or investments that require significant upfront capital.
Local religious leaders founded the Royal Emeritus Initiative 2030 and hope the proposed capital fund will address the financial challenges faced by religious leaders and provide a sustainable income stream for retirement and ongoing ministry work.
“We have seen far too many pastors struggle financially after retirement, sacrificing their dignity and quality of life,” reverend Togara Mapingure said, at an OMZ training programme on how to invest in a capital fund held in Harare last week.
“We wanted to change this narrative by pooling our resources and investing wisely we are securing our future and ensuring we can continue serving our communities with integrity.”
The capital fund is also expected to allow the religious leaders to also address local needs and contribute positively to their communities.
Financial experts from OMZ led the training programmed, which attracted valuable lessons from the ‘Big 5’ animals of Africa.
These analogies were used to help the pastors grasp essential financial principles.
Old Mutual used the lion’s hunting strategy to teach the importance of saving.
“Just as a lion prioritises feeding itself before its cubs, we must prioritise saving for our own future before spending on others,” an OMZ representative said, who wished not to be named.
Using the cheetah, the OMZ representative said speed and agility were important in having a clear financial vision.
“Having a clear vision helps us achieve our goals and stay on track, just like the cheetah’s focused vision allows it to catch its prey,” the OMZ representative said.
Using the elephant’s memory, the representative said this was required to when budgeting finances.
“Creating and sticking to a budget helps us manage our resources effectively, just like an elephant recalls watering holes and food sources,” the OMZ representative said.
The training also highlighted the leopard’s adaptability and resilience to note that diversification and navigation were needed in facing financial challenges.
Lastly, using the rhino’s strength, the OMZ representative said strength and perseverance were required to remain committed to long-term financial goals.
At the conclusion of the training, the pastors established investment committees to oversee the proposed fund’s operations, to commit to transparent management and collective growth.