Business

Stanchart scores in youth financial training

PHILIP CHISALU, MARIA MASINA, Lusaka
STANDARD Chartered Bank has trained over 2,300 youths in basic financial skills and financial investment under its financial education programme as of 2015.
The traning programme is aimed at building financial knowledge, skills and attitudes that enable individuals make informed and effective financial decisions.
According to a statement availed to the Daily Mail recently, the financial education also provides individuals with necessary skills to take control of their finances, protect themselves against predatory banking practices, gives them informed decisions about their money and understand their legal rights.
“Understanding of legal rights is critical when it comes to decision making such as choosing a credit card or buying a home. It is for this reason, that the bank is committed to building financial capabilities among the youths,” the statement reads.
It also notes that the bank understands that stable financial systems, communities and economies rely on knowledge and well-educated consumers as well as to ensure behavioural change and set financial responsibility that should start with the youth.
The programme which was launched in March last year, targets the youths in schools, colleges and universities.
Last year, the programme got recognition of the Bank of Zambia Governor’s award for outstanding outreach in financial education.
In 2015, the bank staff conducted youth trainings on financial education from various learning institutions as lack of financial understanding is a key barrier to financial inclusion especially.

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