Rédaction Africa Links 24 with Chief Editor
Published on 2024-03-17 01:48:31
Financial literacy has taken center stage in Zambia as the government partners with Operation HOPE in a groundbreaking initiative. Recently, a Memorandum of Understanding (MOU) was signed in New York City, United States to advance financial literacy within Zambia and among Zambian diaspora communities residing in the United States. Thabo Kawana, Permanent Secretary at the Ministry of Information and Media, highlighted the objective of the MOU to promote financial literacy.
This significant step aims to enhance financial literacy and economic empowerment in Zambia. Through the Ministry of Finance and National Planning, the government is implementing the National Financial Inclusion Strategy (NFIS) based on the National Sector Development Policy (NFSDP) to accelerate financial inclusion in the country. This strategy is meant to develop a competitive and resilient inclusive financial sector in Zambia.
Zambia has become the inaugural member state to join Operation HOPE’s Financial Literacy for All coalition. This initiative is dedicated to embedding financial literacy in schools, workplaces, and communities. Stakeholders from various sectors including business, sports, entertainment, and nonprofit organizations have come together to ensure that financial education is accessible to all, helping individuals achieve greater success in their financial journey.
Under this collaboration, financial literacy workshops will be conducted, educational materials will be distributed, and partnerships with schools and community organizations will be fostered to promote financial literacy. Minister of Community Development and Social Services, Honorable Doreen Mwamba, emphasized the importance of financial literacy in enabling Zambian youths to make informed decisions for their businesses, reflecting Zambia’s commitment to providing widespread access to financial education.
John Hope Bryant, the Founder, Chair, and CEO of Operation HOPE, expressed his organization’s excitement about partnering with Zambia to improve financial well-being and economic empowerment among its citizens. The MOU signifies a major step forward in ensuring that everyone has the necessary knowledge and skills to make informed financial decisions and build a strong foundation for economic security and wealth generation.
The MOU will facilitate cooperation in various areas including developing and delivering financial literacy workshops and courses, creating and distributing financial literacy materials, partnering with schools and community organizations, and promoting economic empowerment of Zambian citizens, including Small and Medium Enterprises (SMEs).
During the 68th Session of the Commission on the Status of Women (CSW68) in New York City, Hon. Doreen Mwamba reiterated the importance of financial literacy in enabling Zambian youths to make informed decisions for their businesses. Zambia’s commitment to ensuring access to financial education was also underscored by its Permanent Representative to the United Nations, Ambassador Chola Milambo.
The government’s dedication to the Girls Education and Women’s Empowerment and Livelihood (GEWEL) project was reaffirmed during the same event. This project, focused on poverty reduction and household resilience, has made significant progress in reaching nearly 30% of the Zambian population. Zambia’s Permanent Representative to the United Nations praised GEWEL as a flagship local protection initiative within the World Bank portfolio.
Overall, these developments signify significant strides towards bolstering financial literacy and empowering Zambian citizens to navigate the economic landscape effectively. By joining hands with Operation HOPE and focusing on financial literacy, Zambia is taking proactive steps towards economic empowerment and inclusive growth.
Read the original article on Lusaka Times
