BOZ explores financial literacy education in schools


The Bank of Zambia (BoZ) says it is working with the Ministry of education to explore possibilities of including financial education as a core subject in the school curriculum.

Speaking during the financial literacy mentorship programme at Munali Girls High School today, BoZ representative Musapande Phiri said there is need to include financial education in the school curriculum.

Mr Phiri said the incorporation of financial education in the school curriculum will help impact financial understanding and skills in young people even as they enter the job market either as entrepreneurs, public servants or workers in the private sector.

He said it is important that young citizens are taught financial education at an early age in order to inculcate in them a culture of prudent utilisation of finances.

Mr Phiri said this will in turn help the country have a cadre of citizens who are able to prudently use funds  at both personal and national levels.

He stated that the lack of financial literacy had in the past proved disastrous as employees have failed to do basic financial requirements when entering the job market.

The Bank of Zambia in collaboration with First National Bank this week launched the Financial Literacy Week to improve the understanding of financial issues among citizens.