19.2 C
Thursday, May 23, 2024
HomeNews‘Plan your money, plant your future’

‘Plan your money, plant your future’


Solwezi residents recently savoured a Financial Literacy Week treat when the Bank of Zambia with the German Savings Foundation-DSIK reached out to people from all walks of life.

Also at work in the district were other financial institutions including Stanbic Bank, Bayport Financial Services, Longhorn Pension Trust Fund, FNB Bank, Atlas Mara Bank, Invest Trust Bank, ZANACO, ABSA and NATSAVE.

BoZ in partnership with German Sparkassenstiftung (German Savings Banks Foundation-DSIK) successfully promoted financial literacy in a programme which benefitted entrepreneurs, pupils, teachers, farmers, small-scale entrepreneurs and the general public in selected places of Solwezi, under the theme “plan your money, plant your future.”

DSIK is the implementing partner of the Bank of Zambia in the area of strengthening financial literacy and inclusion in Zambia.

For 10 years, German Sparkassenstiftung has conducted interactive and board-based financial literacy training programmes, called Business Game Simulation Training in Zambia. 

The simulations target small-scale entrepreneurs within a set which includes farmers, marketeers, and household individuals. Since 2013, DSIK has trained more than 25,000 participants in all 10 provinces of Zambia in almost 1,200 interactive three -day-trainings.

Speaking in an interview at BoZ and DSIK exhibition stand at City Mall in Solwezi on Wednesday, March 22, DSIK Senior Project Officer Chambata Mbizule said the two institutions were jointly in the province to raise awareness in topics like savings, budgeting, and responsible use of money. “Every year at the end of March, we have a Financial Literacy Week in Zambia, where we promote financial literacy through awareness campaigns and this year we are here in Solwezi to promote a savings culture in the area,” said Mbizule.

Hannah Redders, DSIK Project Advisor, interacting with pupils at a school in Solwezi during the Financial Literacy Week

BoZ chose to hold the event in Solwezi because it was scheduled in the BoZ 2023 financial literacy campaign and as DSIK was an implementing partner of the National Strategy on Financial Education (NSFE II) it had collaborated with the central bank to educate individuals around this year’s theme.

The Financial Literacy Week for 2023 was launched on March 20 in Lusaka by BoZ Deputy Governor of Operations Dr Francis Chipimo on behalf of the BoZ Governor Dr Denny Kalyalya. Mbizule said the team, led by DSIK Project Manager Reinhold Hoernie, had aligned three major activities to enhance the financial literacy training in Solwezi over the week. “This week, we will have an exhibition at City Mall with different banks and financial institutions to raise financial literacy awareness to the general public,” he said.

From Wednesday to Friday, a Micro Business Game Training session for small-scale entrepreneurs is being conducted at Solwezi Central Church of Christ through the main implementing partner organization in Solwezi, the Charity Centre for Children and Youth Development (CCCYD). “Other activities on the schedule of the Financial Literacy Week in Solwezi involve training at both St. Charles Special School (for children living with disabilities) and Solwezi Urban Combined Secondary School,” he disclosed. Mbizule further said there was a financial literacy awareness programme which was aired on FCC- Solwezi Community Radio Station on a topic dealing with the importance of financial planning and savings to the community members. 

The radio panellists included representatives from BoZ namely Assistant Manager in the Financial Sector Development Unit (FSDU) Collins Muchipu and Assistant Manager Security Operations Luka Chiwowo from the BoZ Regional Office based in Ndola. 

Charity Centre for Children and Youth Development (CCCYD) Director Alex Bwaluka described the event as a successful Financial Literacy Partnership between Zambia and Germany in Solwezi.

He lauded the Bank of Zambia (BoZ) and the German Government-supported DSIK for conducting highly interactive financial literacy training sessions which were beneficial to all members of his organization and the broader community.

Banks and other financial service providers which exhibited their products and services included Stanbic Bank, Bayport Financial Services, Longhorn Pension Trust Fund, FNB Bank, Atlas Mara Bank, Invest Trust Bank, ZANACO, ABSA and NATSAVE.


Most Popular