More than 100 Marsabit County residents in the far flung Loiyangalani region have graduated from a customized financial literacy training programme delivered by the Equity Group Foundation.
In keeping up with a growing demand for financial literacy in the region around Lake Turkana, this year’s Annual Lake Turkana Cultural Festival held at Loiyangalani culminated with the presentation of certificates to 100 beneficiaries of Equity Group Foundation’s (EGF) Financial Knowledge for Africa (FiKA) programme.
The programme is a partnership between The MasterCard Foundation and Equity Bank implemented through Equity Group Foundation that leverages on Equity Bank infrastructure in Kenya to reach and train youth and women. The one and a half week intensive training programme saw traders and entrepreneurs from northern Kenya learn good financial management practices.
Equity Bank has conducted FiKA training for the Lake Turkana communities for the last three years during the cultural festival. Over 10,000 women and youth from Marsabit County have benefitted from this training.
This year’s training focused on entrepreneurship, mentorship and coaching to generate business ideas necessary to support the trainees manage their businesses and finances better. The training is part of the Bank’s strategy to empower traders and entrepreneurs by not only improving their financial knowledge and information but also skills, attitudes and behaviours required to make sound financial decisions
.
Speaking at the FiKA graduation ceremony during the festival, Equity Bank’s Director SME Banking Mr Rohit Kumar said; “Equity Bank is an all-inclusive financial institution whose business model aims at socio-economic empowerment of our people. The Bank has developed several products and services which have continued to deepen financial access and extend financial inclusion to all members of our society.
“As this programme creates more financial knowledge among our people, we expect to see further financial deepening and more uptake of financial services among our people, and particularly embracing a savings culture,” he added.
The World Bank estimates that approximately 800,000 Kenyans join the labour market each year, and only 50,000 succeed in getting professional jobs. Entrepreneurship is therefore seen as an alternative source of income amongst the youth.
“We believe that entrepreneurship is one of the key drivers of our economy and plays a key role in transforming the lives and livelihoods of our people. We are glad to see 100 traders graduate from the entrepreneurship training today,” Rohit reiterated.
The Chief Guest Marsabit County Governor Ukur Yattani during the graduation ceremony thanked the Bank for its continued support to the county “Equity has been a good partner not only in training our people but also in supporting our young people with secondary and university scholarships. I commend all those graduating today after the entrepreneurship training and I urge them to use the knowledge they have acquired to improve their lives and those of their families.”
Equity Bank is an all-inclusive financial institution with products and services that target the youth such as easy account opening by using one’s phone and dialing *247# dubbed Equity Hapo Hapo and Vijana Business Loans, which allows the youth to access free financial education. The Bank also has Jijenge Account which promotes a savings culture amongst its customers and the Fanikisha Loan products for women.
