Police officers to make smarter financial decisions after literacy program

Police officers across the country are now expected to make smarter financial decisions following the rollout of a nationwide financial education programme aimed at boosting their financial literacy and long-term economic resilience.

Among others, the program is targeting both Malawi Police Service officers and support staff from all four regions: Southern, Central, Northern, and Eastern, with financial knowledge and tools that can significantly improve their personal and family financial well-being.

The initiative, led by Old Mutual Malawi through its Financial Education Manager Benard Chiluzi, recognises police officers as some of the most dedicated public officers. Dedicated public servants deserve the tools to secure their financial future.

“Financial education is a foundational step toward true economic empowerment,” said Chiluzi. “Police officers are among the most dedicated public servants, and they deserve the knowledge to make sound financial choices that secure their future.”

Conducted with the support of the MPS through the Integrity, Spirituals, and Counselling Department, the programme also placed strong emphasis on the 2023 Pension Act, Malawi’s major reform in retirement policy.

Deputy Commissioner of Police Joyce Mazalo, who also serves as Officer-in-Charge for Phalombe Police, described the sessions as timely and eye-opening.

“Officers were educated on their rights, responsibilities, and the benefits outlined in the Act, helping them plan more effectively for retirement. The pension reforms are crucial. As a public servant, I now understand how the changes affect me, and I feel more prepared for life after service,” she said.

The training sessions covered a wide range of critical topics, including building a strong financial mindset, budgeting and saving techniques, managing debt responsibly, understanding insurance, investment planning, and retirement preparation.