Old Mutual on Financial Education: Why it Matters
Financial education is the gateway to financial inclusion. We are enabling growing numbers of people to make informed decisions when using financial services.
Why it matters
There are 350 million adults in sub-Saharan Africa. More than half have no ready access to financial services, and financial knowledge could be improved across all our markets.
Earning trust
We are working to ensure that our 64,000 employees and 18.9 million customers have access to the best financial education available and feel equipped to make responsible and appropriate financial decisions that will help them prosper. By 2020,we want to bring meaningful financial education to 50 million people. One of the ways of achieving this goal is by building accessible education into every point of customer contact to help them make informed financial decisions.
These are our future markets
We are committing substantial resources to this. We aim to be seen as the most trusted provider of financial education, wherever we operate – particularly in our African markets where the need is greatest. These large, mostly financially excluded markets have future potential for business growth.
Financial solutions for schools
Working in partnership with Opportunity International, we are helping to increase access to capacity building loans and training for Kenya’s growing number of low-cost schools. Operating through our Faulu Microfinance Bank, the product will fuel the growth of Kenya’s schooling market. Through the partnership, over 900 schools will access loans resulting in improved access to quality education for over 400,000 children.
Download the Positive Futures Plan 2015 here
