Malawi celebrates global money week

Malawi Monday joined the rest of the world in celebrating the Global Money Week under the theme ‘Save Today. Safe Tomorrow’.

The Global Money Week is an annual international money awareness celebration which takes place in the second week of March and engages children worldwide in learning how money works, including saving, creating livelihoods, gaining employment, and entrepreneurship.

Launching the week in Blantyre, Reserve Bank of Malawi (RBM) Director of Microfinance and Capital Markets Supervision Hastings Mzoma underscored the need for Malawian youths to be literate on money issues.

He said it is for this reason that RBM in conjunction with the Ministry of Education and Malawi Institute of Education have included financial education in eight subjects at secondary school level beginning September 2015.

The subjects include Agriculture, English, Chichewa, Home Economics, Business Studies, Life Skills, Mathematics and Social Studies.

“The curricula aim to teach financial skills and knowledge to students before leaving school,” said Mzoma.

He added that children and the youth outside the school system will have their own initiatives in future.

As part of the launch of the week, students from Ndirande Hill Secondary School toured the Blantyre Branch of RBM.

The students also attended lectures on budgeting as well as other money related issues.

Global Money Week is an annual global celebration that is organised nationally and coordinated by Child and Youth Finance International.

The week provides an opportunity for youngsters to learn about creating livelihoods, gaining employment and even starting their own enterprises.

As part of the week, RBM officials will visit selected secondary schools in the southern region to equip students with money issues.

The week will also see some students visiting selected commercial banks to appreciate their roles