Small-scale traders in Akala Market received a major boost as the Finance team from Masinde Muliro University of Science and Technology (MMUST) delivered an insightful training session on financial management and record-keeping. Led by Finance Officer CPA Jared Rading’, the training brought together over 100 traders who were equipped with essential skills to enhance their business operations and pave the way for sustainable growth. This training held on 13th and 14th March 2025 at Akala Market is aimed at creating a more financially literate and empowered generation of traders.
A section of the traders following the presentations at the event.
The training was carefully structured to cater to the specific needs of small-scale traders, many of whom often face challenges in managing their finances amidst the complexities of daily transactions. CPA Rading’ emphasized the importance of accurate record-keeping, noting that tracking expenses, income, and profits not only helps traders to avoid financial mismanagement but also prepares them for future investments and potential expansions. “Financial literacy is the foundation of any successful business, and by improving your record-keeping practices, you will not only keep your businesses organized but it will also assist you in identifying areas where you can improve profitability,” he stated.
The Finance Officer CPA Jared Rading’ addressing the traders during the training.
Similarly, the Director of Corporate Communications and Marketing, Dr. Lydia Anyonje urged the traders to continue honing their financial management skills and to take the initiative in sharing their newfound knowledge with their colleagues in the market.“We recognize the challenges that many of you face daily and we are certain that this training has equipped you with the critical facets that will not only improve the sustainability of your businesses but also pave the way for long-term growth. I encourage you to continue ‘Choosing MMUST’ as the learning destination of your children’s future,” said Dr. Anyonje.
The Director of Corporate Communications and Marketing, Dr. Lydia Anyonje making her remarks at the event.
CPA Michael Lung’ayia took the participants through modern financial tools and strategies that will optimize their business operations and help them in managing risks. The session encouraged active participation, with attendees sharing their own experiences and learning how to apply new concepts to their specific business models. The session addressed key financial management aspects, including effective record-keeping, budgeting, and cash flow management, which are crucial tools for business sustainability and growth.
“Record-keeping must not be complicated. Using a small notebook to log daily sales and costs can make a big difference. Record keeping is about consistency and making sure you keep track of your incomes and expenses,” explained CPA Lung’ayia. The other staff from the Finance Department who participated in the event included CPA Fred Onaya, CPA Ms. Betty Matiangi and Ms. Joan Obilo (Secretariat).
CPA Michael Lung’ayia making a presentation during the event.
This capacity building training sparked excitement among traders, with many expressing interest in further sessions to enable them fully understand financial management skills. The Finance Department plans to carry out follow-ups with more specialized training sessions focusing on other aspects such as investment strategies and the use of digital tools to streamline financial management. The training concluded by award of certificates to all traders, marking the successful completion of the training.
CPA Fred Onaya making a presentation at the event.
The University has been actively involved in various outreach programs aimed at enhancing the livelihoods of people in the region. With new financial skills in hand, the small-scale traders of Akala Market are now better prepared to face the challenges of the modern business world, equipped with the confidence and knowledge to grow their businesses.
By Linet Owuor
