In fulfilling its obligation of equipping people with financial knowledge, Old Mutual Malawi has rolled out a comprehensive Financial Education programme across police stations nationwide, targeting officers and support staff.
The initiative, spearheaded by Financial Education Manager Benard Chiluzi, is part of Old Mutual’s broader vision to elevate financial literacy levels and help Malawians break free from the cycle of poverty.
The initiative has so far reached all the regions including Southern, Central, Northern, and Eastern.
Among others, the program is equipping members of the Malawi Police Service with financial knowledge and tools that can significantly improve their personal and family financial wellbeing.
Speaking in an interview, Chiluzi said “Old Mutual believes that financial education is a foundational step toward true economic empowerment. Police officers are among the most dedicated public servants, and they deserve to make sound financial decisions that secure their future”
He added “the training covered a range of critical financial topics designed to build strong financial behaviour and resilience including, developing a winning financial mindset, Budgeting and savings techniques, Debt management and responsible borrowing, Understanding and investing in insurance, Practical tools for investment planning, Retirement planning essentials”
The sessions were delivered with support from the office of the Inspector General through the Integrity, Spirituals, and Counselling Department.
Commenting after the sessions, Deputy Commissioner of Police Joyce Mazalo, who is also Officer in-charge for Phalombe Police said one key highlight of the initiative was the sensitization of police officers on the 2023 Pension Act, an important reform in Malawi’s pension landscape.
“Officers were educated on their rights, responsibilities, and the benefits outlined in the Act, helping them plan more effectively for retirement. The pension reforms are crucial. As a public servant, I now understand how the changes affect me, and I feel more prepared for life after service,” she said.
Old Mutual (Malawi) Limited is a premier financial service provider with interests in savings, life insurance, investment, asset management and providing end-to-end funeral services.
