School leavers trained on personal finance management

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Young people who sat for Malawi School Certificate of Education (MSCE) this year have been trained on personal finance management with the aim of changing their perceptions towards money and other realities of life.

The trainings were conducted by Old Mutual Malawi at Malawi Sun Hotel in Blantyre, at Bwaila Secondary School in Lilongwe, and at Katoto Secondary School in Mzuzu.

In all the places, the sessions were delivered using Old Mutual’s flagship Financial Education module, On The Money.

Registration to attend the training was open to students, parents, and guardians, and students had a virtual or physical option to attend the training.   

Commenting on why the company decided to organise free financial education to the MSCE graduands, Old Mutual Malawi Marketing and Corporate Affairs Manager Patience Chatsika said the company is pioneering the initiative to cement its duty as a responsible business.

Chatsika said Old Mutual desires to ensure that the company is achieving mutually positive futures with its customers and potential customers, and one of the ways to achieve that is by ensuring that everyone is financially literate.

“Old Mutual believes that one would easily meet his/her financial goals if there is discipline and diligence in managing finances. Moreover, better personal finance management skills are more critical now when the country is facing economic hardshipss” said Chatsika.

According to Chatsika, Old Mutual’s Financial Education program aims to equip people with tools to help them reach their goals and dreams.

She said they had targeted the financial education to MSCE graduands bearing in mind that they are at a point when they are looking into the next steps in their lives and the sessions provides an opportune time to change their perception towards money and other realities of life.

“We want to train them early so they can prudently use their finances. You may wish to know; this is a free service since it subscribes to one of our values, particularly one that focuses on the customer: We desire to champion the customer and make them thrive,” she said.

Chatsika said Old Mutual strives to provide its customers with financial education that positively impacts their lives through simplifying otherwise complex financial concepts so that they can better understand and uptake financial products available on the market for their financial betterment.

“On The Money module examines the underlying myths about money that influence people’s ability to use, grow, and protect it. Furthermore, our financial education program shows the direct link between individual saving habits and national prosperity. The module shows how building good saving habits is not only responsible and mature and an act of personal empowerment but also deeply patriotic,” she said.

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