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Alba Iulia
Wednesday, January 22, 2020

Financial inclusion measure pegged at 80% by 2022

Economy Financial inclusion measure pegged at 80% by 2022

Muchinga PS Bright Nundwe
Copperbelt Province Permanent Secretary Bright Nundwe

Government through the National Financial Inclusion Strategy has set a target to increase the financial inclusion measure from 59 percent in 2015 to 80 percent by 2022.

Speaking during this year’s commemoration of the financial literacy week, Copperbelt Province Permanent Secretary Bright Nundwe in a speech read for him by the Deputy Permanent Secretary Joyce Nsamba said the financial literacy week is an important element to help increase national financial inclusion.

Mrs. Nsamba said the financial sector regulatory authorities and stakeholders are cognizant of the linkage between financial strength and prosperity at individual level.

She added that government is gratified that since the first financial literacy week in 2013, progress has been recorded in terms of the number of participants in the annual commemoration activities.

ZANIS reports that Mrs. Nsamba said the main aim of the 2018 financial week is to create awareness of the key life events, and begin the process of empowering citizens with knowledge, understanding, skills and confidence to meet the financial obligations associated with key life events.

And speaking earlier Bank of Zambia representative Diana Chisulo bemoaned the country’s low financial level inclusion which she said is difficult to attract meaningful development adding that, there is need for financial service providers to collaborate with government in putting up measures aimed at attaining higher levels of inclusion.

Ms. Chisulo said this year’s theme “Save, Invest and Insure to Live a better life” impacts very well on the culture of using the various types of financial products and services available on the market, which she hoped both the young and old could embrace.

Meanwhile, Chairperson for Securities and Exchange Commission, Amos Sikwila noted that the commission is convinced that the younger generation has the capacity to change the future of the country’s financial security if they are taught on how to manage their financial welfare.

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  1. Financial inclusion project is a waste of time. No bank finds it profitable to open a bank account for a person who doesn’t receive a regular income. It’s that simple. Is there a Land Rover showroom in Kaputa? No of course but if it develops in future Land Rover can take a showroom there without government or donor prodding.

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