Zambia Launches Second National Strategy on Financial Education

The Ministry of Finance on 10th December 2019 launched Zambia’s Second National Strategy on Financial Education. Speaking during the launch, Minister of Finance Honourable Bwalya Ngandu in a speech read for him by Minister of Higher Education Honourable Brian Mushimba, said that financial education contributes to stimulating economic growth and reducing poverty.

“Building a financially educated population cannot be overemphasized, as it is critical for supporting positive financial outcomes that will ultimately contribute to stimulate economic growth and reduced poverty. I am urging all players particularly Financial Service Providers to take up the challenge to fully participate in the implementation of financial education strategy,” said Hon. Ngandu.

And speaking at the same event, Bank of Zambia Governor Dr Denny Kalyalya commended Government for integrating financial education in the school curriculum.

“Integration of financial education in the school Curriculum in both primary and secondary schools, is an assurance that future generations will have financial management knowledge early in their lives,” said Dr Kalyalya.

The National Strategy on Financial Education sets out a framework and interventions for boosting financial literacy for all citizens through, among others:

  •  Financial education for the youth provided through career guidance centers, entrepreneurship curriculum and drama;
  • Financial education for adults; and
  • Financial education for people of all ages.