Central bank partners LUANAR, DSIK to encourage students to save

The Reserve Bank of Malawi (RBM) has partnered with the German Sparkassenstiftung for International Cooperation (DSIK) and the Lilongwe University of Agriculture and Natural Resources (LUANAR) to raise awareness on the importance of financial prudence and saving for a secured and

prosperous future.

Speaking during the savings awareness event at LUANAR on Friday, RBM Chief Examiner for Consumer Protection and Financial Literacy, Madalitso Chamba, said through the initiative, they want to encourage students to save and invest.

“We are encouraging savings and investments because that is the only route that Malawians as well as students can take if we are to grow,” she said.

Chamba advised students that from the little money they get they can save and saving for a purpose adding that the purpose that the bank is encouraging is basically investments because it is the only way that there can be a return on their money.

DSIK Regional Director Markus Tacke said savings is very important to students for their future.

“We want to bring the savings ideas and understanding to the students for their prosperous future,” he said.

He added: Savings is not for the rich people but for the society including students.”

LUANAR Deputy Head of Agri-Business Management Department, Admore Kamanga said savings awareness is very important to students because when they are equipped with ideas on how to save while young it will help them in future.

“Students will grow with the saving culture because of what they have learnt through the savings week, event” he said.

However, the event at LUANAR was part of Savings Awareness Week launched by RBM whose objective is raise public awareness on savings and investments.