Stanbic Bank Botswana has begun a financial literacy campaign at schools in Botswana.
It has been found that many people in Botswana, regardless of their level of education, do not have a basic understanding of financial principles. This means that they battle to gainfully engage in constructive dialogue around financial matters.
This situation calls for an improved financial education starting at the very elementary levels. Stanbic Bank has produced a set of financial literacy booklets for distribution to local schools. Ultimately, we would like to see these books incorporated into Botswana’s school curriculum.
A lack of basic financial understanding could lead to wrong choices that could affect both a person’s career and personal life. Some of the common problems people with low financial literacy experience is that they do not understand the importance of investing and saving for the future.
This has resulted in Botswana having among the lowest levels of savings per household and one of the highest levels of debt per household in Africa.
Stanbic Bank’s financial literacy campaign will go some way to ensuring a financially secure future for the people of Botswana.