FEJAL AND PARTNERS LAUNCH FINANCIAL EDUCATION AND LITERACY PROGRAM
March 31, 2025
Monrovia: The Female Journalists Association of Liberia, Central Bank of Liberia and partners have officially launched Liberia’s Financial Education and Literacy program.
The initiative is aimed at providing financial awareness to increase savings, support debts management and ensure continuous budgeting among citizens for economic growth.
FeJAL along with her partner PERT Consultancy, designed and conducted a Baseline Survey for the Fin-Ed program to evaluate financial knowledge and practices, measuring the level of financial literacy.
Other are budgeting, saving, borrowing, investing and identifying financial education needs highlighting specific areas where enhanced financial literacy and education efforts are most needed.
During the official launch of the program, FeJAL’s Pres. Madam Lisa Diasay indicated that 77% of the 388 respondents from the survey across eight counties had not received financial literacy training and they were only relying on their confidence to save, manage debts amongst other financial related information.
However, FeJAL’s President in the baseline survey report recommended that CBL develop a series of in-person financial education workshops to address respondents expressed needs such as budgeting, saving effectively, setting financial goals, and investing.
Key amongst the recommendations was also to design training content to bridge the gap between respondents’ perceived confidence and their actual knowledge of financial matters, establish a system for continuous monitoring and evaluation to assess the effectiveness of financial education interventions and as well expand on a nationwide campaign to educate citizens on CBL’s responsibilities in monetary policy and financial stability as well as the roles of other financial institutions.
As part of the long-term inventions, the report further recommended that CBL partners with trusted community Structures and create peer-led learning networks prioritizing training on budgeting, saving effectively, financial goal-setting, and basic investment strategies, develop user-friendly mobile applications online platforms for financial education which will meanly target younger and tech-savvy audiences.
