Financial Literacy Training in Busia County
MSEA Busia regional team, in collaboration with the SOMTO Karolina Aadland Foundation, recently organized and conducted a Financial Literacy Training for the Babwala Group, situated in the Nanguba area of Samia Sub-county.
This training session marked the second week of the program sponsored by the SOMTO Karolina Aadland Foundation and covered two important modules: Saving and Responsible Borrowing.
During the Saving module, participants actively engaged in creating personalized saving plans, gained an understanding of the significance of saving, and learned effective strategies to maintain a consistent saving habit.
Moving on to the Responsible Borrowing module, participants gained valuable insights into distinguishing between good and bad loans.
They also acquired knowledge on how to identify reputable lenders and learned about calculations involving loan interest rates and other related considerations.
The goal of these training sessions is to equip participants with essential financial skills and knowledge, empowering them economically.
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