RBM launches Global Money Week

Reserve Bank of Malawi RBM has launched the global money week with a call to students and school leavers to manage their finances prudently.

The week which runs under the theme “Think Before You Follow, Wise Money Tomorrow.”, aims at ensuring that children and young people have access to high-quality financial education that allows them to make smart financial decisions.

Speaking during the launch which took place at Bangwe secondary school in Blantyre, RBM chief examiner consumer protection and financial literacy Madalitso Chamba said Malawi has improved on taking financial literacy messages to youngsters through integration of financial literacy lessons in secondary school curriculum.

Chamba revealed plans to introduce the same in primary schools’ curriculum emphasizing the importance of instilling saving culture in children at a tender age.

However, she said there is still a long way to go in order to reach out to the masses with the messages as only 50% of Malawians are financially literate.

MC Collins Petro a student at Bangwe secondary school commended RBM for the initiative saying frequency of such initiatives will help students understand better on financial literacy.

He has also advised his fellow students to focus on priorities and embrace saving culture.