Bank of Zambia mounts charge on financial education

The Bank of Zambia's new financial education strategy, launched on January 9, aims to create a financially educated population by 2030, and support Zambia's transformation into a middle-income nation.

The central bank hopes to empower Zambians with the knowledge, understanding, skills, motivation and confidence to secure "positive financial outcomes for themselves and their families".

It pays particular attention to members of the population that are disadvantaged by their low level of education, or are in poverty. People with low incomes, the strategy says, need to make their money go as far as possible, save when they can and avoid unnecessary risks.

Michael Gondwe, the Bank of Zambia governor, said other countries' efforts were taken into consideration in the report. "I am confident that, in terms of coherence and comprehensive coverage, the National Strategy stands comparable with the best," he said.

Click here to read the strategy.