The Kenya Bankers Association (KBA) in conjunction with Central Bank of Kenya (CBK) on Thursday launched a financial literacy campaign to promote a savings culture in the country among the youth and general public.
Outgoing Central Bank of Kenya (CBK), governor Patrick Njoroge, said that the month-long sensitization drive, dubbed “banking industry financial literacy campaign 2023,” will focus on the importance of building a savings culture as a pathway to enhanced financial health.
“The awareness campaign seeks to educate the public on appropriate measures to enhance personal financial wellness and build their capacity to access funds for enterprise development,” Njoroge said.
“As the banking industry, we are interested in promoting financial literacy because it is about lifting the population and giving them tools to achieve this.”
Habil Olaka, chief executive officer of the Kenya Bankers Association (KBA), observed that financial literacy is about understanding money as well as the impact of financial decisions on one’s future.
Olaka believed that empowering the youth with knowledge on how to handle their finances in an effective way is also an avenue to building a resilient and prosperous nation.
“As an industry, we recognize the challenges faced by a big number of the public, and especially the youth in managing their finances effectively. We believe that by fostering financial literacy, we are empowering individuals to secure their financial future and contribute to the overall economic well-being of our country,” he said.
He revealed that the campaign will also complement the banking industry’s ongoing online and mobile safety awareness campaign, which focuses on consumer-led fraud prevention.
