Financial education strategy Zambia

The National Strategy on Financial Education for Zambia, which is set out in this document, has the primary objective of empowering Zambians with the knowledge, understanding, skills, motivation and confidence to help them to secure positive financial outcomes for themselves and their families, especially those that are disadvantaged by less education and/or poverty. The development of the strategy is an integral component of the Zambian Government’s Financial Sector Development Plan (FSDP), which is a comprehensive strategy to broaden and strengthen the country’s financial sector. This strategy is expected to contribute towards making Zambia a prosperous middle-income nation as envisaged in the National Vision 2030. It has been observed that the existing financial education programmes and initiatives at national level remained fragmented. This has contributed to the high financial exclusion rate with results of the 2009 FinScope survey on the demand and supply of financial services showing that only 37.3 % of the adult population is financially included. The National Financial Education Strategy is expected to galvanise existing initiatives and assist in generating a stream of resources which will support sustainability over the long-term.