Financial literacy

Octagon’s financial literacy training benefiting 1,500 students.

NAIROBI, Kenya, December 29 – More than 1,500 high school students in the Eastern and Southern Africa region will benefit from financial literacy training with the aim of cultivating a culture of healthy savings.

Octagon Africa, through the first virtual training course in financial literacy, on the theme Start now for a better tomorrow, aims to educate students on understanding money, budgeting and saving.

“Currently, pension coverage in the country is still low, at around 22% of the total labor force, which is strongly attributed to a poor savings culture. In order to avoid these glaring numbers, it is necessary to cultivate healthy saving habits from an early age, ”said Fred Waswa, CEO of Octagon Africa Group.

An EFG Hermes analysis finds that Africa’s savings rate averages 17%, Kenya’s 12%, half the average for low-income countries.

“Our vision as Octagon Africa is to ensure financial security and we believe that the key to this security lies in savings cultivated from an early age. Thanks to these financial literacy trainings, we are convinced that we will be able to contribute to increasing the savings rate throughout the region, ”he concluded.

Free financial literacy training for high school students is part of Octagon’s social responsibility to help support the region’s pensions by youth, employees and informal groups.