Financial literacy involves understanding basic financial concepts like money, income, budgeting, debt, retirement, insurance, and savings and investments. It also involves the ability and discipline to apply this knowledge to choose appropriate financial products. Financial illiteracy is a global issue because personal finance is rarely taught, parents and teachers lack knowledge, banking habits are low, and financial products have become more complex. Several countries and organizations have implemented best practices to promote financial literacy, such as establishing financial education offices, launching national taskforces and campaigns, and deepening financial sector involvement through targeted projects and initiatives. Moving forward, financial intermediaries must play a key role in educating rural and illiterate populations, and partnerships between schools, NGOs, banks

1. Financial Literacy & Financial IntermediationAfrican & Global Context Presentation by Varghese Thambi, Chief Executive Officer, DTB Uganda

2. Financial Literacy The understanding basic financial concepts of : -Money and Income -Budgeting and Cash Flow Management -Debt Planning -Retirement Planning -Insurance Planning -Savings & Investments -Capital Market & Securities Ability & discipline to use the information and choose right financial products

4. Parents and teachers are equally illiterate on financial matters

5. Comparatively low banking habit

6. Financial Institutions and Government had not focussed on Financial Literacy in the past

8. Malaysia commenced consumer education in financial literacy through a 10 year Master Plan in 2001

9. UK Financial Service Authority launched the Financial Literacy campaign in 2002

10. Australia launched a National Consumer & Financial Literacy Taskforce in 2004

12. Kenya & Tanzania are developing Financial Literacy through Financial Sector Deepening Trust(FSDT) since 2005

13. Ghana has launched the first Financial Literacy Week in 2008, to achieve prosperity through financial security

15. Mobile Money transfer solutions & Money Transfer Services

17. Develop Banking products suitable for kids and youth

18. Educate College Students on the risk of using Credit Cards

20. Mobile Money Transfer agents, Money Transfer Services and Insurance Companies should serve the last mile customer in rural areas

21. Banks to set up more number of small branches with 1 teller , ATM and home-banking with ‘no-frill’ accounts

22. Bring every African under regulated financial segment which would eliminate Money Laundering and other unethical financial practicesTHANK YOU & MAY GOD BLESS YOU