What you need to know:
- The funding provided by Old Mutual will be used to support the mainstreaming of financial education.
- UAP Old Mutual says formalisation and teaching of financial skills is key educational milestone.
Kenya Institute of Curriculum Development (KICD) and UAP Old Mutual Group have entered into a Sh21million partnership 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 learners across the country.
"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," KICD chief execute Prof Charles Ong’ondo said during the signing of the deal in Nairobi.
"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," he added.
The funding provided by Old Mutual will be used to support the mainstreaming of financial education in the new competency-based curriculum that will entail 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.
"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 Arthur Oginga, Group CEO of UAP Old Mutual.
Mr Oginga further said that UAP Old Mutual regards the formalisation and teaching of financial skills as one of the most significant educational milestones to take place in East Africa.
"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," he said.