SEC in Muchinga to sensitise public on financial literacy

Muchinga Province Deputy Permanent Secretary Brian Sichande says financial literacy remains key to Government’s agenda of creating a financially informed population. Mr Sichande said Government was committed to implementing progressive policies, with financial literacy being an…

Muchinga Province Deputy Permanent Secretary Brian Sichande says financial literacy remains key to Government’s agenda of creating a financially informed population.

Mr Sichande said Government was committed to implementing progressive policies, with financial literacy being an important area of focus.

He said this when a team from the Securities and Exchange Commission (SEC) Financial Inclusion and Education Unit visited him at his office.

Mr Sichande emphasised the need to promote financial literacy among young people, stressing that youths were the future of the country and needed to understand the value of money and how to use resources appropriately.

He said a lack of financial literacy could lead to the misuse of resources.

“If you did not have this lesson from the onset on how best to spend money, you risk taking the money somewhere it is not supposed to go. If a resource was meant to build schools, let it build schools. If it was meant to build markets or buy medicine, let it do that,” he said.

Meanwhile, SEC Manager for Financial Inclusion and Education Sitali Mugala said the Commission was targeting young people under the National Strategy on Financial Education initiative.

Ms Mugala said the initiative was aimed at promoting a culture of saving and investment from an early age.

She said SEC was conducting a National Capital Markets Debate across the country to encourage youth participation in capital markets.

“We are going around the country conducting financial literacy sensitisation. The debate is a build-up to the national debate that will be held in Chipata next month. As we move from province to province, tertiary institutions that have expressed interest will compete amongst themselves,” she said.

Ms Mugala said the Commission was targeting students from six institutions in Muchinga Province, including Kapasa Makasa University in Chinsali and Zambia College of Agriculture in Mpika.