Fred Waswa, Chief Executive Officer, Octagon Africa Group
The free financial literacy programme targeting teens and young adults in primary, secondary and higher learning institutions in Kenya, Uganda and Zambia encourages a strong saving culture among the youth and continues to grow each year.
Octagon Africa, a leading regional financial services provider, has recorded the highest-ever participation in its 4th edition of the Young Money financial literacy programme. The free programme, which targets pupils, high school learners and university students in Kenya, Uganda and Zambia, continues to grow each year as more young people show interest in learning how to manage money from an early age.
The sessions attracted over 300 young participants, up from about 200 last year. The programme teaches the basics of money management, including budgeting, setting financial goals and developing a personal savings culture. Participants are also introduced to financial tools such as pensions, investments and insurance to help them secure and transfer wealth later in life.
This year’s training, held online on 13 December, was led by Tony Amukhale, Head of Business Development at Octagon Africa, and Lyn Tukei, PR and Communications Manager at the Capital Markets Authority of Uganda.
Established in 2021, the Octagon Young Money Programme aims to strengthen financial literacy among children, teenagers and young adults. The sessions are held during school holidays and are divided into two online classes: one for ages 8-15 and another for ages 16-22. This year, children in the younger group made up 60 per cent of total participants, showing growing enthusiasm among early learners.
“At Octagon Africa, we believe that culture is formed at a young age. This programme is designed to instill the values of earning, spending wisely and saving,” said Fred Waswa, Group CEO of Octagon Africa.
“Helping young people work towards long-term financial goals starts with awareness and education. With the right information, they gain the confidence to manage financial risks and avoid poverty, especially in retirement.”
The programme supports the development of essential money management habits that contribute to household financial well-being, resilience and long-term prosperity.
Currently, the penetration of financial services such as pensions and insurance remains below 5% in many African countries, leaving most people financially insecure in retirement. Building financial knowledge among the youth is key to increasing savings behaviour, shifting attitudes and encouraging both short-term and long-term use of formal financial products.
“Young people must understand that real wealth is built over time. Financial literacy gives them the confidence and discipline to grow wealth responsibly and sustainably,” added Mr Waswa.
Participation in the programme is free, with young people able to sign up each December during the school holidays via links shared on Octagon Africa’s social media pages, ensuring easy access for learners across the region.
