Zamara launches financial education program for schools

Zamara Kenya has announced that it has launched a financial education program for parents and teachers to teach them how to save for pensions and plan for retirement under Zamara’s Angaza scheme.

Angaza’s program will focus on providing financial literacy to the young population where Zamara staff members will dedicate their time and knowledge to help parents and teachers improve the financial literacy of the young population. He said his company was keen to help the government integrate basic money management skills into the school curriculum and help with rollout.

“Financial literacy is one of the most important life skills everyone needs to learn today. Research suggests that financial habits are formed as early as age seven and therefore it is essential to ensure that children receive a level of financial education that will shape their attitude towards money over the course of their life. their formative years,” said Sundeep Raichura, Zamara Group pensions administrator. .

Raichura explained that if good habits are not formed at an early stage in life, it becomes difficult to steer children in the right direction. According to him, financial literacy offers young people the possibility of having a brighter and more prosperous future since they are equipped with the right tools and the right knowledge. He says a vibrant and growing pension sector in Kenya was not only important to the future financial well-being of Kenyans, but also an important pillar upon which the future health of our economy will be built.

He noted, however, that it was disappointing that policy measures that could have a significant impact on increasing retirement savings, such as the retirement savings requirement and improved tax incentives, remained elusive.

“Even proposals to simplify the pension tax system to make it easier and proposals to level the playing field for retirement savings against other forms of savings seem to fall on the ears of a deaf. We continue to appeal to our decision makers and have a collective responsibility to do so,” he urged.