22 January 2021
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Friday, 10 April 2020 15:37

Financial literacy among people with disabilities needed -Consultancy

Written by  Memory Chatonda

Blantyre, April 10: Centre for Financial Inclusion and Literacy Consultancy Managing Director, Abel Mwenibanda on Wednesday emphasized on the need  for improved financial literacy among people with disabilities to enable them access financial services easily.

Mwenibanda said this in Blantyre when he donated financial literacy book to Malawi Council for the Handicapped (MACOHA), Malawi Union for the Blind (MUB), Malawi National Association of the Deaf (MANAD) and Federation for People with Disabilities in Malawi (FEDOMA).

Mwenibanda observed that local and international projects and surveys on financial literacy, inclusion and consumer protection done so far had not adequately reached out to people with visual, speech and hearing impairments to enable them access financial services in Malawi.

He said it was against the background that Centre for Financial Inclusion and Literacy  Consultancy transcribed the messages in a  form that could be easily understood by any person with disability.

“The book has been written in a way that can be accessed by the blind, deaf even those with speech impairment and it contains information on savings, credit management, inflation,  working relationship between banks and customers, digital financial management  and capital markets.

“Reaching this far, I have no doubt that the information in the book will ensure that there is an increase in financial literacy, inclusion and consumer protection among Malawians including those with disabilities residing in hard to reach areas  thereby enabling them to easily communicate and access  financial services  without problems,” he said.

MACOHA Acting Executive Director, Georgina Navicha expressed gratitude to Centre for Financial Inclusion and Literacy Consultancy for the initiative, observing that the development would go a long way in addressing challenges that people with disabilities face in the financial sector.

“For a long time, many people with disabilities have been denied access to financial services especially loans on assumption that they cannot perfectly run a business to recover the loan but today, I am so optimistic that things will change because the information in the book is vital and accessible.

“I therefore thank Centre for Financial Inclusion and Literacy Consultancy for the good gesture. As MACOHA and the rest of organisations, we pledge to ensure that each person with disability accesses the booklet,” she said.

In sharing similar sentiments, Airtel Malawi Southern Region Manager, Maleck Kaziputa said the company planned to expand the scope of mobile money transactions to benefit more people in rural areas with financial services.

“Therefore, knowledge on financial literacy will provide people with disabilities a thorough understanding of digital financial services and be able to communicate with mobile money agents in their respective places  easily,” he said.

The ten page financial literacy book which has been published in Chichewa, Braille and sign language has cost over K1 million.

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