CMA targets varsities with new financial literacy plan

The Capital Markets Authority has launched a financial literacy plan targeting university and college students across the country.

Speaking during the launch at Kabarak University, acting CMA chief executive Paul Muthaura said the agency wanted to broaden the investor base by encouraging youths to invest on the Nairobi Securities Exchange.

“There is a need to increase financial literacy among the public and more particularly among the youth to ensure they are empowered to leverage new developments such as promoting the flexibility of market structures and responsiveness,” Mr Muthaura said.

He also noted that recent information around the world that a many people do not have sufficient knowledge on basic financial products and the risks.

The initiative eyes a well informed population that can take risks and create jobs.

Kabarak University deputy vice chancellor Kefa Rabah said the partnership would promote teaching programmes in financial management as well as develop capital markets-related curriculum for undergraduate students.

“The students will also benefit from internships opportunities in financial institutions for students who will perform well in financial literacy competitions as well as the authority,” Prof Kefa said.

The authority is also partnering with the county governments to help educate the public on capital markets and wealth creation.