A call has gone out to members of the Malawi Defence Force to adopt disciplined financial management practices, including budgeting, saving, and investing, to help them secure their futures amid the current economic challenges.
The call was made during a series of financial education workshops conducted for MDF units across the country, including the Navy Battalion in Mangochi, Cobbe Barracks, and Changalume Barracks in Zomba, MAFCO in Salima, Mvera Battalion in Dowa, Moyale Barracks in Mzuzu, and Chilumba Barracks in Karonga.
Speaking after the workshops, Old Mutual Malawi Financial Education Manager Benard Chiluzi said soldiers need practical financial knowledge and skills to make informed decisions and avoid unnecessary financial stress.
“These topics, which centre on financial mindset change, savings and investment options, emergency and opportunity funds, retirement planning, budgeting, and debt management, are particularly critical given the current economic environment,” said Chiluzi.
He said the workshops also focused on encouraging participants to prepare for emergencies and future opportunities through proper financial planning.
Apart from the MDF, Old Mutual also conducted similar workshops for institutions including Africa Global Logistics, Beit Cure, Malawi Parliament, and St Andrews Primary School.
Africa Global Logistics Human Resources Manager Catherine Makokola commended the initiative, saying many people are facing financial difficulties and need guidance on managing their finances wisely.
