The Old Mutual Group and the Kenya Institute of Curriculum Development (KICD) have launched an online financial literacy programme targeted at junior and senior school teachers, to enhance financial literacy among students.
This initiative aims to mainstream financial literacy education within the existing Competency-Based Curriculum (CBC), covering pre-primary to senior school levels. Developed in response to studies revealing low financial literacy among Kenyans, the programme seeks to strengthen the capacity of teachers to deliver financial education through high-quality and engaging digital and non-digital content resources.
Prof. Charles Ong’ondo, KICD Chief Executive Officer, praised Old Mutual Group for its commitment to educational transformation. He highlighted the success of a pilot programme that included 120 Junior Secondary School teachers from 36 schools across five counties, namely, Uasin Gishu, Makueni, Laikipia, Siaya, and Kiambu.
“The learning gaps identified during our pilot informed the extent to which Financial Literacy could be infused into other learning areas,” Prof. Ong’ondo stated during the launch at KICD’s Simba Hall. He expressed gratitude to Old Mutual and other partners for their efforts in ensuring financial literacy among Kenyans.
“Financial literacy is a tool for empowerment, and teaching it in schools is no longer an option but a necessity,” added Prof. Ong’ondo. Old Mutual invested an initial $187,275 in the programme, achieving key milestones such as integration matrices and guidelines in 2021, online orientation courses for financial literacy teachers in 2022, and a pilot programme in 2023. A financial literacy toolkit for learners will be available in 2024.
Old Mutual Group CEO, Arthur Oginga, stressed the importance of financial management skills for the country’s growth and development. “We are ready to work with all relevant partners to ensure we have a generation of financially sound minds,” Oginga said, noting that the partnership with KICD is part of Old Mutual’s Learn. Think. Do (LTD) initiative, aimed at empowering Africa’s youth with sustainable and responsible financial well-being.
The programme, accessible via the Elimika platform, is now available to all junior school teachers, with senior secondary school teachers to be onboarded by 2026. The cloud-based training portal will help teachers enhance their skills through various capacity-building courses.
Prof. Ong’ondo noted that the online programme would equip teachers across Kenya to rapidly fit financial literacy elements into their practice,” he said.
The programme aligns with Old Mutual’s community investment strategy, focusing on financial education and literacy programmes. One such product is the Lengo Education plan, a long-term savings product with life cover.
The plan provides financial relief with 15% of savings available for emergencies and offers a life cover equal to the sum of future gross premiums, with a free cover limit of $8,989. Policyholders are also entitled to a tax relief worth 15% of their premiums and can use the policy as collateral for loans.
