Zambia and Operation HOPE, an American-based organization, have signed a Memorandum of Understanding (MOU) to promote financial literacy.

Zambia has therefore become the first nation to Join Operation HOPE’s ‘Financial Literacy for All’ Initiative which will promote financial literacy in Zambia and with the Zambian diaspora in the United States of America.

The signing ceremony was witnessed by Minister of Community Development and Social Services, Ms Doreen Mwamba who was accompanied by Ministry of Information and Media Permanent Secretary, Mr Thabo Kawana and Bank of Zambia Deputy Governor, Ms Rekha Chifuwe Mhango.

Launched by a consortium of leaders from the business, sports, entertainment, and nonprofit sectors, Financial Literacy for All is dedicated to embedding financial literacy in schools, workplaces and communities, so that all people can access quality financial education and achieve greater success in their lifelong financial journey.

“We are excited to partner with the Republic of Zambia to help its citizens improve financial well-being and fortify their economic empowerment,” said Operation HOPE Founder, Chair, and CEO John Hope Bryant, in a speech read on his behalf by Eric Kaplan, who signed the MOU in his capacity as Executive Vice President.

“This MOU – which welcomes the Republic of Zambia as the first country to join our Financial Literacy for All initiative.This a major step forward in our mission to ensure that everyone has the knowledge and skills they need to make informed financial decisions and build a strong foundation for economic security and wealth generation”, Mr Bryant further said.

And in her remarks, Ms Mwamba, who led the Zambian delegation at the just ended 68th Session of the Commission on the Status of Women, said financial literacy training will enable Zambian youths to make informed decisions for their businesses.

She said Zambia will explore the development of a wide range of financial literacy initiatives, including developing and delivering financial literacy workshops and courses, creating and distributing financial literacy materials and partnering with schools and community organizations to promote financial literacy.

The Minister further stated that the economic empowerment of Zambian citizens, including Small and Medium Enterprises (SMEs) is also expected to be achieved.

And Zambia’s Permanent Representative to the United Nations, Dr Chola Milambo, said the Zambian Government is committed to ensuring that all people have access to financial education through the MOU, which is a huge milestone.
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