The Financial Sector Deepening (FSD) Zambia, in partnership with MTN Zambia and Nkanmu Investments limited have announced a new initiative to deliver financial education through a mobile application called ‘Football Yatu’.
The initiative aims to reach over a thousand-young people in Kalingaling and Garden townships with basic financial literacy information that is crucial for them to make informed decision about their financial health.
Football Yatu is an android application that conveys real time access to the Zambian Super League including live scores, latest news and transfer information.
It is free for download on the android play store and currently boasts over Three thousand five hundred active users.
The application has been endorsed by the Football Association of Zambia (FAZ) as a partner in growing the game of football in Zambia.
The application now hosts the FSD Zambia portal where the Digital Financial Literacy training has been uploaded.
The three organisations are supporting 20 young lead facilitators who have been recruited and trained on the financial education topics such as saving, budgeting and insurance and will train over 1000 of their peers.
FSD Zambia Board Chairman Caleb Fundanga said that such initiatives that are deliberate about educating young people on their personal finances are a starting point for expanding the range of economic and social opportunities available to the youth in Zambia so that they are ultimately responsible for their own growth and development.
“The earlier children and youth are educated about finance, the better their lives can be. Early understanding pays off; young people across Zambia have consistently demonstrated that with the right skills and knowledge, they are able to unleash their potential.” Dr. Fundanga said.
And MTN Zambia’s Financial Services General Manager Mr. Edmund Barwuah noted that partnerships with FSD Zambia, Football Yatu and Mobile Money are fundamental in the Mobile Money ecosystem, hence his organisation’s partnerships with them.
“We currently serve more than 2 million mobile money customers, making MTN Zambia MoMo the largest platform in the country. We consider taking financial services to the unbanked and the youth a huge responsibility that demands constant innovation and this forms the basis of our partnership with the two organisations.”
“MTN Zambia is moving into the digital economy and Football Yatu has long been our partner and we are excited to be taking this partnership to the next level as this will spearhead innovative initiatives which will deepen financial access among the youths in the nation” Mr. Barwuah said.
Meanwhile, Football Yatu Founder Charles Nkandu said that the development of the application has increased the spectrum to see beyond football and deploy it to meet many social and economic needs of the Zambian people.
“To be able to host the Digital Financial Literacy Training for the young people in Kalingalinga and Garden township is such an honour for us. Football creates many conversations and has the power to unite and teach. Our work shall continue, and we are so thankful to our partners FSD Zambia and MTN Zambia for making this program possible” Mr. Nkandu said.
Minister of Sports and Youth Development Moses Mawere said the Football Yatu application will supplement government efforts in empowering the youth in Zambia.
In remarks given on his behalf by the Ministry’s Chief Youth Development Officer David Musonda, Mr. Mawere said such initiatives expand the reach of young people to understand their finances.