Ministry of Gender, Community Development and Social Welfare Principal Secretary Nertha Semphere Mgala says financial literacy campaigns are important because they empower people with knowledge and skills to make informed financial decisions.
She said this on Tuesday at Mpemba in Blantyre during a financial literacy session for Naperi Fish Farmers Cooperative.
Mgala said sharing financial management skills with communities will help them to withstand economic shocks and uncertainties.
She said: “They will be able to make informed decisions that will boost their financial stability and promote business growth.
“These activities contribute to economic empowerment, which improves people’s livelihoods because they make smart choices about saving,
investing and managing debts and shares.”
Commenting on the cooperative, the principal secretary said every business, including fish farming, comes with its own challenges.
“With the right training and knowledge, farmers can diversify their investments and reduce their reliance on a single source of income,” said Mgala.
On his part, Naperi Fish Farmers Cooperative chairperson Peter Zebiya said the session equipped them with crucial knowledge in financial and loan management.
“This awareness campaign has come at the right time as we strive to improve our farming practices and business management skills. With a better understanding of shares, loans and dividends, we will be able to navigate the group’s financial landscape and secure our long-term goals,” he said.
The Reserve Bank of Malawi in collaboration with the Ministry of Gender, Community Development and Social Welfare is conducting a nationwide financial literacy awareness campaign
