Liberty Life Assurance Kenya - Kenya
- Kenya
- Resources
- Capacity Building
- Financial Literacy
- Financial Literacy
Key highlights
According to the Global index report
- women in the developing nations, such as Kenya, have a 20% less likelihood of owning a bank account in a formal financial institution.
- 17% less likely to formally borrow money, deficiency in their financial literacy is one of the causes
Why Financial literacy?
Financial literacy is important to women entrepreneurs as it provides them with knowledge on:
- valuing money;
- spending it;
- keeping track on spending through updated records;
- saving for the future and;
- investing in productive and sustainable activities.
What is the situation in Kenya?
Existing statistics show that lack of financial illiteracy among women:
- Remains a major hindrance to their economic empowerment.
- Makes it hard for women to navigate and use financial services, and
- Leads to inappropriate financial decisions
- Exposes women to added risk by borrowing from informal sources, saving too little, and failing to access appropriate financial services.
Various organization and institutions in Kenya have established financial literacy programmes for women entrepreneurs.
Liberty Life Assurance Kenya
Institution
| Liberty Life Assurance Kenya is a life insurance provider that has been operating in Kenya for over 50 years. It’s purpose is to make a difference in people’s lives by making financial freedom possible. It provides innovative and relevant solutions that help customers protect their greatest assets. The services that Liberty provides include; life insurance, investment solutions, education and retirement savings plans. Read more |
Financial Literacy Programme | In partnership with Heritage Insurance, Liberty Life Kenya has launched a free financial literacy programme aimed at growing financial literacy, financial freedom and insurance penetration. It targets individuals keen to understand and properly plan for their finances at any stage of their lives. Read more |
Cost of training | The training is free of charge and covers savings and investments, managing credit and debt, insurance and budgeting |
Duration | N/A |
Other initiatives beneficial to women | N/A |
Contacts | Liberty Life Assurance Kenya Liberty House, Processional Way |