EDUCATION - STUDENTS DRILLED ON ENTERPRENEURSHIP

STUDENTS DRILLED ON INTREPRENUERSHIP BY ANANIYA ALICK PONJE Malawi’s legendary first pilot and Republican Party President Stanley Masauli drilled Chancellor College students on how they can be business magnates, entrepreneurs or even politicians during a business workshop organized by Chancellor College EDU-LINK, an association which encourages people especially the youth to be entrepreneurs. The business workshop which took place in the Little Theatre at Chancellor College attracted different Chanco students who aspire to become entrepreneurs when they graduate. Masauli, who claims to be an entrepreneur himself, gave the students a lecture on three areas in which he said he has vast knowledge. The areas included Insurance and Assurance, Flying and Politics. On Insurance and Assurance, Masauli pointed out that even though in an average society, the terms Insurance and Assurance appear to continue being used interchangeably, they have two different meanings and implications. “Insurance is an investment designed to protect against a risk of a situation where one would need money. Auto insurance, fire insurance, flood insurance all protect against the damages that may happen and provide adequate money to account for damages to the insured property. The difference is that dying is not something that may happen – it is something that will happen, no matter what. So an assurance policy is not set to protect you if you die but when you die. Accidental death policies are designed to insure for the risk of death in an accident. You cannot assure that someone can only die from an accident. Hence, accidental death policies are a form of life insurance but not of life assurance,” said Masauli. The 64 year-old who is also vying for presidency and looks hale and hearty said it is possible for students who have graduated from college to become insurance agents or brokers. “After graduating, you can become insurance agents who make transactions on behalf of an insurance company and earn some commission. But this might work best for you if after graduating from college, you obtain a certificate or any higher qualification in Insurance, and then you may become an insurance agent before you open your own firm. This is one field that rewards handsomely although many people out there do not know more about it,” he said. Masauli who said the most interesting career he has ever done is Life Insurance because it is what has made him to understand people’s lives, said it has made him understand his own life as well and those of his family. “Life Insurance has made me understand people’s lives and my own including my family’s. I have come to understand how important life is and what provisions one has to make for his family,” he said. He also said that those in other professions apart from Insurance and make money frequently should opt for Life Insurance. “You never know when death strikes, so because you are a salesman or anyone who earns some fast money, then it is better to go for life insurance,” he said. The professional pilot who trains pilots in, but has taken a break on the same so that he may concentrate on his political career was however quick to warn all those who want to embark on a career in Insurance that every insurance policy has conditions which the salesman has to explain to the insurer without hiding anything. “As an insurance salesman, you have to explain the merits and demerits of an insurance policy to the insurer so that the choice is left in their hands. If you do not tell them they will blame you in the future if the policy they chose does not conform to their expectations,” he warned. On flying, he said those who want to become fliers may train in Zambia or South Africa because currently he is not training any pilot. He also gave a detailed process that one has to go through in order to become a professional pilot. First of all one has to attain a Private Pilot License (PPL), then a Commercial License (CL), and finishes with an Airline Transport License (ATL) which can be likened to a PhD. To attain this qualification, one has to do research and sit for examinations. When one of the participants asked whether it is not expensive to learn piloting, Masauli admitted that the training needs quite a substantial amount of money, making reference to his own experience when he learned to fly at the age of 34 because of lack of finances. “For example, a twin engine plane will consume 60 litres of fuel in an hour, and to learn how to fly, you need plenty of time, so definitely one has to have a lot of money. However you may learn by installments. What matters is to be focused on what you want to achieve,” he said. On politics, Masauli warned the students never to join politics as a career soon after graduating. “Come into the world, get a job and enjoy your money. Once you have settled and you have gained some knowledge in the field from some acclaimed politicians, they you may now go into politics,” he said. When closing his lecture, he said entrepreneurship is not easy, especially in Malawi. He warned those willing to go into entrepreneurship to be ready to face difficulties. “There are many impediments but just fight on,” he said. He also advised the students to take care of themselves when they get out of college, citing tha Malawi is losing a lot of graduates to the HIV/AIDS pandemic needlessly. Another personality who spoke during the workshop was Kamuzu Chibambo, president for People’s Transformation Party (PETRA) who is a Lawyer by profession. Chibambo said that as they get out of college the students should not be prepared to get employed but to create employment. “Perhaps the problem is with the curriculum which prepares students to be employed not to employ,” he said. He also urged the students to learn and never stop learning, saying others sit down and get satisfied with just a degree. “No, learn and learn till you die,” he said. Other personalities who spoke during the business workshop are Independent Members of Parliament for Zomba Central Constituency, Lawrence Bisika and Sudi Sullaimana. Matthews Nkhonjera, one of the students who attended the workshop praised these entrepreneurs for leaving aside their businesses and come to address Chancellor College students. “These personalities have to be praised for abandoning their businesses and coming to address us on entrepreneurship. They put aside all their political affiliations for our interest. Personally, I have gained quite a lot,” he said.