Sycamore Consult Limited has taken an initiative to drill employees on salary management, warning that poor financial habits harm individual wellbeing and undermine the country’s broader economic growth.
Speaking during a personal finance training session held in Lilongwe, Sycamore managing director Audrey Mwala observed that many employees struggle to manage their income effectively.
She quipped that often living from one salary to the next with little or no savings or investment plans.
“The training is specifically aimed at helping employees understand how to manage their financial resources wisely,” Mwala explained.
“The goal is to ensure they live a healthy financial life and are well prepared by the time they retire.”
Mwala stressed that salaries should not be viewed merely as a means to survive, but as powerful tools for building wealth.
“Many people don’t understand that a salary is an instrument that can create wealth,” she said. “But when mismanaged, it becomes a cycle of dependency and missed opportunities.”
She warned that poor financial decisions at an individual level—such as excessive borrowing, lack of budgeting, or channeling funds into low-return ventures—can have wider consequences on the economy.
“Every mistake which the employee makes can impact the economy. Remember, the wealth of a country is the total sum of the individuals and businesses within it,” she added.
Mwala pointed to common financial missteps, such as employees starting to build houses that take up to a decade to complete, locking away capital that could have yielded higher returns elsewhere.
“If that money was invested in other instruments, it would have grown far much more,” she said.
One of the participants, Sabit Sayidi, Human Resources and Administration Manager at the Export Development Fund, praised the initiative, noting its practical value.
“When employees are financially independent and free from unnecessary debt, they are more focused and productive. This ultimately boosts workplace performance,” Sayidi said.
The double training session spread across two days attracted around fifty participants.
