UAP, KICD sign a Ksh.21 million deal to boost mainstream of financial literacy in CBC
UAP Old Mutual Group and the Kenya Institute of Curriculum Development (KICD) have inked a deal worth Ksh.21 million to boost the integration of financial education in the newly launched competency-based curriculum dubbed Learn. Think. Do.
The partnership will play a critical role in providing financial literacy and education to teachers and students all over the country.
“Understanding finance and, more importantly, personal financial planning and management skills is essential, especially as people become increasingly dependent on the use of digital platforms. Although these services defeat the challenges of geographical distances, lack of infrastructure and access to the formal banking sector, they cannot be optimally used in the absence of financial education,” said UAP Old Mutual Group Chief executive Mr Arthur Oginga.
The Learn.Think.Do initiative seeks to ultimately enable the financial well-being of 30 million individuals in Africa through a structured, scalable financial education mainstreaming strategy.
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“This will entail identifying prevalence of financial education topics in the national curricula, and developing high quality content (in digital and non-digital formats) that can help drive improved engagement for both teachers and learners, and in the long term impact their core concept understanding, said UAP in a statement.
UAP seeks to actualise the initiative through;
-Curriculum mapping and auditing
-Partnering with ministers of education to include financial education within existing curricula and ensuring an education led approach
-Developing high quality multi-format, multi-lingual content to support financial education within the curriculum.
-Developing financial education and wellbeing teacher training programme to promote the use of diversified content for core concept learning.
-Integrating content into education platforms, independent learning platforms and free-to-air (TV & radio) broadcast platforms. Including accessibility for learners with Special Education Needs (LSEN)
UAP Old Mutual Group has long been a pioneer in financial education and providing consumers with access to the tools they need to be money-wise.
The Group seeks partnerships with like-minded organisations to support initiatives that will enhance the financial well-being of the society.
“The first step towards achieving a financially aware Kenyan society has been undertaken by the Ministry of Education and KICD curriculum specialists by bringing financial education to learners across the country’’ added Oginga.
‘Competency Based Curriculum aims at developing an empowered, engaged and ethical society that is globally competitive in service delivery. The mission is to develop every learner’s potential to full scale productivity. Financial Literacy and education is central to productivity in every sector. By inclusively having this in the curriculum, we are building productivity and developmental competencies in every learning area. This will go a long way in developing a skilled and ethical society’’ said Professor Charles Ong’ondo, KICD Chief executive.
The funding provided by Old Mutual will provide an in-depth analysis of existing programmes, the closing of gaps and the inclusion of financial literacy course content for teachers in the new curriculum.
Primary delivery will be through online and offline courses for junior secondary and senior school teachers.
Old Mutual regards the formalisation and teaching of financial skills as one of the most significant educational milestones to take place in East Africa.