The toolkit was developed in response to the need to mainstream financial literacy education through the existing school curricula.. photo courtesy Mpesa foundation
M-PESA GO, Old Mutual and the Kenya Institute of Curriculum Development (KICD) unveiled a financial literacy online toolkit, targeting students in junior and senior schools on November 20th, 2024.
This learner’s toolkit follows the launch of a teachers’ training platform in June. The platform empowers teachers with the necessary skills in matters of finance, enabling them to pass these on to the young ones.
The program includes interactive sessions and gamified digital experiences that allow students to engage directly with financial professionals, fostering a dynamic learning environment.
Speaking at the launch event, Esther Waititu, Chief Financial Services Officer at Safaricom PLC, noted that Kenya’s financial ecosystem has transformed in the last decade to include a wider range of financial services and digital finance. This enables anytime, anywhere access and makes financial literacy an important aspect of a financially healthy society.
“Kenya has a youthful population, which means young people play a major role in economic growth now and in the future. As such it is important to build their financial capabilities. And this requires a concerted effort from the public, private, and social sectors.”
“Financial literacy is essential to financial stability, which is one of our main objectives,” added Esther, explaining the toolkit’s rationale. “The younger people acquire financial health, the more likely they are to make sound money decisions. They are more likely to save for a rainy day, to invest wisely, to borrow judiciously when necessary.
And they are less likely to fall prey to fraud or predatory practices. M-PESA Go offers young people aged 13 -17 years a platform to save, make transactions, and practice financial wellness at a young age for a money-smart generation.”
In his remarks, Arthur Oginga, Group CEO of Old Mutual stated, “We must act now to nurture a healthy relationship between young people and money, promote financial resilience, and cultivate overall financial wellness. Without proper preparation, we risk perpetuating a cycle of instability for the next generations. By prioritizing financial education, we will empower these young individuals to develop sound financial habits that will serve them throughout their lives. This is why we are investing resources to support integration of financial education across curricula.”
“The partnership between Old Mutual and Safaricom signifies the potential of leveraging each organization’s unique strengths to foster positive change in our communities. Our shared commitment to digital innovation and a deep understanding of the financial landscape enables us to develop impactful solutions that improve lives”, said Oginga.
The toolkit was developed in response to the need to mainstream financial literacy education through the existing school curricula. Learners can download the toolkit on the M-PESA Go and Old Mutual websites.
“By prioritizing financial education, we will empower our young learners to develop sound financial habits that will serve them throughout their lives. This is why we are investing resources to support integration of financial education across curricula,” he added.
