Finanzgruppe Sparkassenstiftung


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Strenghtening basic financial education in Zambia

Bank of Zambia
German Federal Ministry for Economic Cooperation and Development (BMZ)

Since May 2012 through to at least 2017


One lon-term expert, various short-term experts 


Descripción del proyecto

Zambia has more than twice the size of Germany, but with a number of only 14 million inhabitants it is very scarcely populated. Despite a generally positive economic development and an increasing financial sector, more than 60% of the adult population does not have any access to financial services. This is due to the fact that on the supply side, the bank branches are widely spread across the country and the interest rates offered are high. On the demand side, however, the people lack the necessary knowledge of financial products or how to make use of them and they also do not have any understanding of general economic correlations.

Since 2012, Sparkassenstiftung has supported the Zambian government in implementing a national strategy to improve the basic financial education. A working group initiated by the Bank of Zambia coordinates a multitude of stakeholders and education measures for different target groups.

Within the scope of a partnership project, Sparkassenstiftung develops and executes own education and training measures for micro and small-scale entrepreneurs. Local trainers from chambers, associations and microfinance institutions have meanwhile been trained and are now able to perform a haptic business management game for small entrepreneurs and start-ups, developed by Sparkassenstiftung for this special target group. Already during the orientation phase of the project, more than 1,000 entrepreneurs were trained with the help of this unique management game.

One special feature of this project is to support the Financial Education Coordination Unit (FECU) of the Bank of Zambia. Sparkassenstiftung provides special training measures to FECU focusing on project management or communication. Furthermore, Sparkassenstiftung helps to organise the National Financial Education Week, which has meanwhile become an annual event in Zambia.

Following the highly positive results of the evaluation of the current orientation phase, it is now planned to continue the cooperation project at least until mid-2017.


Servicios prestados

  • Identification and training of partner institutions and trainers of bank management games
  • Development of cooperation mechanisms
  • Quality assurance of training measures
  • Consultancy missions to include FECU in the organisation and structures of the entities affiliated to the Bank of Zambia and the financial sector
  • Rendering organisational advice to FECU and partner organisations participating in the Project
  • Execution of studies investigating the Situation of Basic vocational Training within the Zambian (micro)finance sector