KICD Unveils New Financial Literacy Program for Teachers
The Old Mutual Group, in partnership with the Kenya Institute of Curriculum Development (KICD), has introduced an innovative online program aimed at enhancing financial literacy among junior and senior school teachers in Kenya.
This initiative addresses the growing need to integrate financial education into the current Competency-Based Curriculum (CBC).
Financial literacy has been embedded in nearly all learning areas within the CBC, spanning from pre-primary to senior school levels.
Various studies have indicated a significant gap in financial literacy among Kenyans, highlighting the necessity for early-stage financial education.
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Research has also emphasized the importance of high-quality and engaging content—both digital and non-digital—in strengthening the ability to teach financial concepts effectively.
Development and Implementation
The financial literacy module was developed to mainstream financial literacy education within existing curricula.
Old Mutual Group invested Sh25 million in the program, achieving key milestones, such as the development of integration matrices and guidelines in 2021, online orientation courses for financial literacy teachers in 2022, and a successful pilot program in 2023.
Additionally, a comprehensive financial literacy toolkit was introduced for learners in 2024.
According to Prof. Charles Ong’ondo, Chief Executive Officer of KICD, the program was launched following a successful pilot involving 120 Junior Secondary School teachers across 36 schools in five counties: Uasin Gishu, Makueni, Laikipia, Siaya, and Kiambu. Prof. Ong’ondo noted that the pilot revealed learning gaps, which helped determine the extent to which financial literacy could be integrated into other learning areas.
The online program, accessible via the Elimika platform, is designed to enhance teachers’ skills through capacity-building courses in various subjects.
Prof. Ong’ondo expressed delight in launching the online platform, which aims to empower teachers across Kenya to integrate financial literacy into their teaching practices effectively.
Old Mutual’s Commitment and Future Plans
Old Mutual Group’s Chief Executive Officer, Arthur Oginga, emphasized the need for Kenyans to acquire financial management skills to contribute to the country’s growth and development.
He stated that Old Mutual is prepared to collaborate with relevant partners to nurture a generation of financially literate individuals.
Oginga added that financial literacy is a vital empowerment tool, making its inclusion in schools a necessity for preparing students for a successful future.
From 2026, the program will expand to include senior secondary school teachers, further enhancing financial literacy education.
The program aligns with Old Mutual’s community investment strategy, focusing on financial education, skills development, and literacy programs.
Lengo Education Plan
Old Mutual is also offering the Lengo Education plan, a long-term savings product that provides life cover during its term.
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This plan addresses clients’ long-term savings needs while offering financial relief, with 15 percent of savings accessible for emergencies.
The plan includes a life cover equivalent to the sum of future gross premiums, a free cover limit of Sh1.2 million, and a tax relief benefit of 15 percent of premiums. Additionally, the policy can be used as collateral for loans.
KICD Unveils New Financial Literacy Program for Teachers
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