UAP Old Mutual Group and the Kenya Institute of Curriculum Development (KICD) on 21st July announced a partnership worth Ksh21 million to boost the integration of financial education in the new competency-based curriculum dubbed ‘Learn. Think. Do.’ This marked the beginning of a partnership that is expected to play a critical role in providing financial literacy and education to teachers and students across the country.
“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,” said Mr Arthur Oginga, Group CEO UAP Old Mutual. “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,”
Prof Charles Ong’ondo, CEO KICD, said the Competency Based Curriculum aims at developing an empowered, engaged and ethical society that is globally competitive in service delivery. The aim is to develop learner’s potential to full scale productivity.
“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.”
UAP Old Mutual Group offers financial education and provides consumers with access to the tools they need to be moneywise. “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,’’ Added Mr Oginga.
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, among others, 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. Old Mutual says the formalisation and teaching of financial skills is a significant milestone in education.