With Kenya’s savings rate among the lowest in the region and many households facing financial uncertainty, Enwealth Foundation Limited and the Evangelical Alliance of Kenya (EAK) have launched a new partnership focused on equipping children with essential money management skills from an early age.
Enwealth Foundation and EAK have signed an MoU to roll out the Biblical Financial Literacy Program for Children — a first-of-its-kind initiative in Kenya that combines faith-based values with practical financial education. Developed by Enwealth, the program aims to instill responsible money habits early in life.
“The launch of the Biblical Financial Literacy Program for Children comes at a time when young people are increasingly exposed to complex financial pressures. This initiative offers a timely intervention by teaching children early to view money through the lens of responsibility, generosity, and purpose, preparing them not only for personal success but also to become wise stewards in their communities,” Ken Monyoncho, Director at Enwealth Financial Services remarked during the MOU signing.
“The program aims to reach thousands of children nationwide, equipping them with the tools to manage resources wisely, give generously, and live purposefully—all while grounded in biblical values. As a proprietary product of Enwealth Foundation Limited, the program reflects the organization’s core mission of equipping individuals and communities with tools to thrive economically, spiritually, and socially.”
Kenya’s savings rate remains worryingly low, with the World Bank placing it at just 13.7% of GDP in 2023, well below the Sub-Saharan Africa average of 17.9%. A 2022 survey by Enwealth Financial Services found that 42% of Kenyans save only 6% to 15% of their income, primarily setting money aside for big purchases, travel, and leisure. Additionally, only about 15% of Kenyans save for retirement, exposing them to negative long-term consequences of poor financial planning.
“The MOU signed today cements our shared commitment to nationwide implementation of the program through EAK’s vast network of churches, children’s ministries, Sunday schools, and Christian institutions. With EAK’s influence reaching millions of believers across Kenya, the partnership is set to deliver far-reaching impact. Financial literacy from a biblical perspective is more than information; it’s discipleship,” Rev. Kepha Nyandega, the General Secretary of the Evangelical Alliance of Kenya, noted.
“It’s about raising a generation that understands God’s purpose for money and the value of responsible stewardship. This program will strengthen the spiritual and financial foundations of our children and their families. The two organizations are planting seeds of financial wisdom, spiritual grounding, and hope for a better tomorrow in the hearts of Kenya’s children, one lesson, one church, and one community at a time.”
Research consistently shows that individuals exposed to money management principles in childhood are more likely to budget, save consistently, and avoid debt traps in adulthood – key behaviors that contribute to economic stability. The Biblical Financial Literacy Program seeks to instill these habits early, using a values-driven curriculum that teaches children to manage money with discipline, integrity, and purpose.
Set to be rolled out in the coming months, the program will be implemented through the Evangelical Alliance of Kenya’s vast network of over 50,000 churches, reaching an estimated 10 million members nationwide. Leveraging this expansive infrastructure, the initiative will deliver essential financial principles such as saving, budgeting, planning, and giving, delivered through scripture-inspired teaching and age-appropriate tools. The goal is to make financial education accessible, engaging, and rooted in values that resonate with families across Kenya.
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