Enwealth Foundation Limited and the Evangelical Alliance of Kenya (EAK) are seeking to equip children in Kenya with essential money management skills from an early age.
The two organisations have rolled out the Biblical Financial Literacy Program for Children in Kenya that combines faith-based values with practical financial education.
“This initiative offers a timely intervention by teaching children early to view money through the lens of responsibility, generosity, and purpose, preparing them not only for personal success but also to become wise stewards in their communities,” said Ken Monyoncho, Director, Enwealth Financial Services.
Under the deal, the firms target to instill responsible money habits early in life.
According to the World Bank Kenya’s saving is currently equivalent to 13.7pc of gross domestic product in 2023, well below the Sub-Saharan Africa average of 17.9pc.
“With EAK’s influence reaching millions of believers across Kenya, the partnership is set to deliver far-reaching impact. Financial literacy from a biblical perspective is more than information; it’s discipleship,” added Rev. Kepha Nyandega, General Secretary EAK.
A 2022 survey by Enwealth Financial Services found that 42pc of Kenyans save only 6pc to 15pc of their income, primarily setting money aside for big purchases, travel, and leisure.
Additionally, only about 15pc of Kenyans save for retirement, exposing them to negative long-term consequences of poor financial planning.
The program will be implemented through the Evangelical Alliance of Kenya’s vast network of over 50,000 churches, reaching an estimated 10 million members nationwide.
