KICD Launches Financial Literacy Program for Teachers in Kenya.
The Old Mutual Group, in collaboration with the Kenya Institute of Curriculum Development (KICD), has introduced an innovative online program to enhance financial literacy among junior and senior school teachers in Kenya. This initiative seeks to integrate financial education into the Competency-Based Curriculum (CBC), addressing a crucial gap in financial literacy within the country.
Financial literacy is now embedded across various learning areas in the CBC, from pre-primary to senior school levels. Numerous studies have highlighted a significant deficiency in financial literacy among Kenyans, emphasizing the need for early-stage financial education. Research also underscores the importance of high-quality, engaging content—both digital and non-digital—in effectively teaching financial concepts.
The financial literacy module aims to mainstream financial education within existing curricula. Old Mutual Group invested Sh25 million in the program, achieving several key milestones, including:
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- Development of integration matrices and guidelines in 2021
- Online orientation courses for financial literacy teachers in 2022
- A successful pilot program in 2023
- Introduction of a comprehensive financial literacy toolkit for learners in 2024
Prof. Charles Ong’ondo, CEO of KICD, stated that the program followed a successful pilot where 120 Junior Secondary School teachers from 36 schools in Uasin Gishu, Makueni, Laikipia, Siaya, and Kiambu counties participated. The pilot identified learning gaps and helped determine how to integrate financial literacy into other learning areas.
The online program, accessible via the Elimika platform, enhances teachers’ skills through capacity-building courses in various subjects. Therefore, Prof. Ong’ondo expressed enthusiasm about the online platform’s launch, aiming to empower teachers across Kenya to effectively integrate financial literacy into their teaching practices.
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Old Mutual’s Commitment and Future Plans
Arthur Oginga, CEO of Old Mutual Group, highlighted the necessity for Kenyans to acquire financial management skills to contribute to the country’s growth and development. Old Mutual is committed to collaborating with relevant partners to foster a generation of financially literate individuals. In addition, Oginga emphasized that financial literacy is a crucial empowerment tool, making its inclusion in schools essential for preparing students for a successful future.
Starting in 2026, the program will expand to include senior secondary school teachers, further enhancing financial literacy education. This initiative aligns with Old Mutual’s community investment strategy, focusing on financial education, skills development, and literacy programs.
In addition to the financial literacy program, Old Mutual offers the Lengo Education Plan, a long-term savings product that provides life cover during its term. This plan addresses clients’ long-term savings needs while offering financial relief, with 15 percent of savings accessible for emergencies. The plan includes a life cover equivalent to the sum of future gross premiums, a free cover limit of Sh1.2 million, and a tax relief benefit of 15 percent of premiums. Additionally, the policy can be used as collateral for loans.
KICD Launches Financial Literacy Program for Teachers in Kenya.
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