NBE Launches National Financial Education Module to Empower Youth, MSMs

The National Bank of Ethiopia (NBE) has today launched a Standardized National Financial Education Module in partnership with the Mastercard Foundation and First Consult with a view to encouraging the youth and empower Small and Medium-sized Enterprises (SMEs) in the field.

This pioneering initiative aims to advance financial literacy and strengthen inclusion among youth and SMEs and show them how to secure loans and repay properly to effectively sustain their businesses.

Remarking at the ceremony, Mastercard Foundation Ethiopia Director Samuel Yalew called the event as an excellent initial step toward realizing the National Financial Education Strategy goals.

He expressed confidence in the continued teamwork for successful execution to build an inclusive, financially informed society.

Senior Advisor to the Vice Governor of NBE, Martha Hailemariam, on her part stated the module will facilitate coordinated financial education efforts toward the 2025 target of 75 percent of youth and small enterprises being
conversant with financial services.

According to her, the module encompasses various subject matters including savings, digital banking, lending, insurance, interest-free finance, business planning, and women entrepreneurs.

”This financial credit education module covers a wide range of financial services such as savings, digital financial services, loans, insurance, interest-free banking, budgeting, etc. Use it responsibly as an interactive learning tool with stakeholders.”

First Consult Managing Director Nebil Kellow applauding NBE’s National Financial Education Strategy, underlined the low financial awareness among target groups and the significance of enabling prudent financial decisions through learning.

By integrating the module into training and outreach, financial firms can empower clients, lift capability and enable long-term prosperity, he said.

According to him, successful delivery depends on development organizations furnishing expertise, means and collaborations to broaden efforts.

: Ethiopian News Agency