Reserve Bank of Malawi Deputy Governor Kisu Simwaka has hailed the stride the country has registered in integrating financial literacy into the education curriculum.
Simwaka said this yesterday at the launch of activities marking the financial literacy week at Zingwangwa Secondary School.
He said as digital financial services gain momentum in Malawi, it is imperative that digital literacy goes hand in hand with financial literacy.
“Banks and other financial institutions must therefore work together to ensure that safe and reliable digital tools and services are provided to protect young people from digital fraud and other financial-related crimes,” he said.
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Bankers Association of Malawi Chief Executive Officer Lyness Nkungula said financial institutions were committed to working together to build a financially literate and inclusive society.
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She said financial institutions have a collective responsibility not only to provide financial services, but also to educate and empower communities in order to build a financially resilient nation.
“For Malawi to move forward and for our economy to grow, we need a financially literate nation. We also urge young people, in particular, to start investing their money while they are still young,” she said.
Nkungula then encouraged young people to take an early interest in financial matters, noting that achieving the country’s long-term development vision under Malawi 2063 requires a society capable of making sound financial decisions.
Education Division Manager for the Southern Region, Feggie Mphasi Mwale, also highlighted the significance of the initiative.
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“We see this as an opportunity for our students to learn directly from financial experts,” she said.
Global Money Week is an annual global awareness campaign aimed at ensuring that young people become financially aware from an early age and gradually acquire the knowledge, skills and attitudes needed to make sound financial decisions. This year’s theme is “Smart Money Talks.”
