• The 2022 Financial Literacy Week Campaign seeks to provide guidance on how to manage Finances.
• Financial Knowledge can help everyone to better manage their finances through times of hardship.
• Ministry of Education through the Curriculum Development Centre has made significant progress in incorporating Financial Education in the school curriculum.

Ministry of Finance and National Planning says the future of Economic growth and management of personal and national finance requires that citizens must have financial Education early in their life in order to become financially informed capable citizens.

Speaking to launch 2022 Financial Literacy Week under the Theme, “Build your future; be Money Smart,” Acting Minister of Finance and National Planning Chipoka Mulenga explained that Financial Knowledge can help everyone to better manage their finances through times of hardship and prosperity although some factors affecting financial well-being are beyond individual control.

Mr. Mulenga further explained the 2022 Financial Literacy Week Campaign seeks to provide guidance on how to manage Finances and buffer against risks and other financial Emergencies.

‘The financial literacy week is our national interpretation of the global money week which will also be commemorated on the same dates,” he said.

“During this period, Zambia will join the global community in the financial literacy campaign during which various countries from every continent will be participating in raising awareness on the importance of managing finances prudently to attain financial independence,” the Minister noted.

Mr. Mulenga further disclosed that Ministry of Education through the Curriculum Development Centre has made significant progress in incorporating Financial Education in the school curriculum as part of learning from primary to secondary education.

According to him, “This is a good step in empowering our children with financial knowledge which will enable them develop good habits that will ultimately transform them to becoming financially prudent citizens.”

He further urged everyone to familiarize themselves with services that financial service providers such as Capital Markets, Banking, Insurance and Pension Schemes offers to derive the maximum services from them.

The Acting Minister of Finance explained one of the reasons for the low uptake of Insurance services at 5 percent as at 2020 is lack of awareness and inadequate knowledge to make the most out of financial products.

“According to the 2020 FinScope survey, only 0.6 percent utilize the capital markets in Zambia while the uptake of insurance services stands low at 5 percent,” he said.

Mr. Mulenga had since urged service provider’s to ensure that adequate information is disseminated during and beyond the financial literacy week.

He added that the public should also find time to engage with the financial sector regulators and market players to learn more about the available products.