In a major development toward enhancing financial education among Kenyan students, M-PESA Go, Old Mutual, and the Kenya Institute of Curriculum Development (KICD) have unveiled an innovative Financial Literacy Toolkit targeting junior and senior learners.
The online toolkit is designed to equip young people with essential money management skills, embedding financial literacy within the school curriculum. This follows the earlier launch of a teachers’ training platform in June, which empowered educators to effectively teach financial concepts to their students.
The toolkit introduces an interactive learning experience through gamified digital platforms, enabling students to engage directly with financial professionals. This dynamic model fosters a deeper understanding of money management while making learning enjoyable.
Speaking at the launch event, Esther Waititu, Chief Financial Services Officer at Safaricom PLC, emphasized the need for robust financial education in Kenya’s evolving financial ecosystem.
“Kenya’s financial landscape has transformed significantly over the past decade, offering diverse financial services and digital finance solutions accessible anytime, anywhere,” she noted. “Kenya has a youthful population, which means young people play a major role in economic growth now and in the future. As such it is important to build their financial capabilities. And this requires a concerted effort from the public, private, and social sectors.”
Waititu highlighted that financial literacy is crucial for long-term stability. “Financial literacy is essential to financial stability, which is one of our main objectives,” added Esther, while explaining the rationale for the toolkit. “The younger people acquire financial health, the more likely they are to make sound decisions about money. They are more likely to save for a rainy day, to invest wisely, to borrow judiciously when necessary.
Through M-PESA Go, young people aged 13 to 17 can now practice financial wellness, access savings tools, and make transactions, fostering a generation equipped with essential money skills.
Arthur Oginga, Group CEO of Old Mutual, underscored the urgency of addressing financial literacy gaps among young learners. “We must act now to nurture a healthy relationship between young people and money, promote financial resilience, and cultivate overall financial wellness.” Said Oginga.
“Without proper preparation, we risk perpetuating a cycle of instability for the next generations. By prioritizing financial education, we will empower these young individuals to develop sound financial habits that will serve them throughout their lives. This is why we are investing resources to support integration of financial education across curricula.”
Arthur Oginga emphasized the transformative potential of the partnership with Safaricom, highlighting the alignment of the two organizations’ strengths in driving community impact. The partnership between Old Mutual and Safaricom signifies the potential of leveraging each organization’s unique strengths to foster positive change in our communities.
Oginga further underscored the importance of financial literacy, particularly among younger generations, as a cornerstone of the initiative. “By prioritizing financial education, we will empower our young learners to develop sound financial habits that will serve them throughout their lives. This is why we are investing resources to support integration of financial education across curricula,” he added.
This initiative comes as financial literacy gains prominence globally, recognized as a cornerstone of economic empowerment. By equipping young people with financial knowledge early on, the program aims to create a ripple effect, contributing to a more financially secure society.
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