The Ministry of Education will introduce financial literacy in schools


KAMPAL- The Ministry of Education and Sports (MOES) will launch the financial education program in all primary schools in Uganda next year.

The program aims to educate learners on how to earn, save and spend wisely.

The deputy commissioner in charge of private schools and institutions at the ministry, George Mutekanga, said the National Curriculum Development Center and his ministry have developed a financial education curriculum that will be instilled in the school curriculum.

“The national curriculum center has already started creating a financial literacy program and we have something in place. This is going to be rolled out, our biggest program is funding and training,” Mutekanga said.

Junior Achievement Uganda (JA) and Prudence Foundation launched the ChaChing financial literacy program for primary school in 2017.

This year, more than 3,700 students from 24 schools have been reached by the program.

The program was designed to equip children ages 7-12 with the knowledge, tools, and practice they need to make informed financial decisions to achieve their own personal goals and dreams.

ChaChing literally means “making the sound of falling coins”.

George Mutekanga Deputy Commissioner in charge of Schools and Private Institutions of the Ministry of Education and Sports and Robert Ikwap Deputy Commissioner for Primary Education and Marc Fancy Executive Director of the Prudence Foundation interact during the closing event of the ChaChing training program at Nakasero Primary School. (All photos by Violet Nabatanzi)

Speaking at the closing event of the training program at Nakasero Primary School in Kampala on Monday, Mutekanga said the ministry needs to identify people who will train as district-level master trainers and community trainers. trainers at the school level, adding that they should bring this. in all our schools in Uganda.

Mutekanga said that at primary level, financial literacy has not been emphasized, adding that it is only in secondary schools where entrepreneurship is part of the compulsory subjects taught, but at primary level, they underemphasize the importance of the material.

Executive Director of Junior Achievement Uganda (JA), Rachael Mwagale, said, “We are looking at MoES or local government to see how we can expand this program into other areas and see how we can reach students from all backgrounds. schools in Uganda”, Mwagala. said.

She said Cha-Ching teaches learners about the cycle of money and the choices to be made on a daily basis.

The program embraces activity-based learning to enhance young minds with the knowledge, tools, and practice they need to make informed financial decisions.

Prudence Foundation executive director Marc Fancy said they introduced the program about 10 years after realizing a financial crisis, adding that they wanted to educate people about financial literacy since money affects everyone. .

Fancy said they currently operate in 22 countries to encourage learners to earn and save. In Africa, the program has been introduced in eight African countries, including Uganda, Kenya, Zambia, Cameroon, Togo, Côte d’Ivoire and Ghana.

Managing Director Prudence Africa Rosalind Brown explained that the focus is on financial literacy and they want to make sure it is known to children, which they can learn from as young as 7 years old.