Dwasco Sacco Limited has urged youths in Nkhotakota District to embrace a saving culture to become economically independent.
The organisation’s chief executive officer Treza Malata said this on Saturday during a youth savings account campaign at Kasasa Private School aimed at motivating young people to embrace a saving culture.
She said the campaign was in line with the organisation’s principle of financial inclusion.
Malata observed that some parents fail to manage their finances because they lack financial literacy skills.
“We feel that by imparting the financial literacy skills to the youth, they will grow up with a saving culture and know how to manage their finances,” she said.
Malata said the organisation plans to reach out to other schools and communities to advocate for a saving culture.
The school’s head teacher Godfrey Munthali thanked the organisation for the campaign, saying it will ensure that students embrace a saving culture.
“This is important for the school because our students will know financial literacy knowledge and will be able to manage their finances when they grow up,” he said.
One of the parents, Benson Khobidi, said the financial literacy campaign enhanced her understanding on spending.
He said financial literacy is crucial in today’s age where many things demand money.
“I encourage my fellow parents to cultivate a saving culture to save money for their children’s education,” said Khobidi.
