Professional golfers today attended a workshop to equip them with financial management skills and alternative income strategies.
The workshop ran under the theme “Finance Under Par”.
Led by the Chartered Accountants Academy (CAA) in partnership with SATIB Insurance Brokers and Medirit Healthcare, the initiative aimed to help professional golfers to sustain themselves beyond their relatively short sporting careers.
Speaking at the workshop, CAA’s managing director, Mr Elliot Wonenyika, emphasised practical avenues for golfers to diversify their earnings.
He highlighted avenues, including coaching, greenkeeping, conditioning, event management and brand ambassadorship.
“Unfortunately, after consulting with the Zimbabwe Professional Golfers Association, we realised that our professional golfers struggle in managing their finances and in creating income streams outside their golf winnings,” he said.
“Sporting careers are quite short, so we suggested avenues they can pursue to sustain themselves.”
He said that financial literacy is not only vital for the longevity of individual sporting careers, but also aligns with Vision 2030, which envisions a sustainable middle-income economy.
“We believe that by 2030, as we do more of these programmes, we are going to have a vibrant and sustainable golfing profession feeding into the national agenda of a middle-income economy,” he said.
“In golfing language, we are helping them to manage the financial bunker and create sustainable life goals beyond the course.”
With quarterly workshops under consideration, stakeholders believe the initiative will strengthen both the golfing profession and the broader national agenda of economic empowerment.
In this regard, Royal Harare Golf Club director Simon Murungweni emphasised that golfers should expand beyond playing the sport by exploring alternative income streams.
He encouraged professional golfers to think outside the box, showing that financial stability comes from foundational income sources within the golf industry, not only from winning tournaments.
“We see more than just hitting a golf ball, your income can come from different pathways and not just from playing,” he said.
“We have learnt that trophy income needs to come not from playing, so everyone is now very interested and is very keen to learn more, and to upskill,” he said.
SATIB Insurance Brokers’ general manager, Mr Taurai Pambweyi, said that the partnership with the CCA aims to enrich Zimbabwean professional golfers by enhancing their financial literacy and encouraging wealth preservation beyond the sport.
“We can give back to society by enhancing their financial literacy. We are teaching on how to manage finances. How do you plan and protect for the future,” said Mr Pambweyi.
He said that his company is supporting golfers by preparing them for tournaments as a business, while also providing risk management solutions such as medical aid.
“This is the first initiative that we have done to prepare them for the coming tournament. We are trying to come up with a robust risk management so that they have that peace of mind,” he said.
