National Finance Educators Council (NFEC) - 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.
National Finance Educators Council (NFEC)
| About the NFEC
| The NFEC is a social enterprise organization committed to creating a world where people are infirmed to make qualified financial decisions that improve their lives, the lives of their loved ones, and the live of people they impact around the globe.
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| Financial Literacy Programme |
The NFEC offers a wide range of personal finance seminars and classes that are near you. You will find a personal finance class near me for all ages, from young children to adults at all phases of life. We also teach personal finance and offer training to people of all socioeconomic backgrounds.
NFEC financial coaches have the primary goal of providing education and guidance to people who seek to improve their financial profiles.
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| Contacts |
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