Reserve Bank of Malawi Governor, Dalitso Kabambe, has said Malawi should strive to create a generation of capable adults who are able to make wise financial decisions.

In a statement released as part of the Global Money Week from 14-18 March, Kabambe said children and youth need to be educated on matters of money management to build a culture of saving and entrepreneurship.

He said youth and children lack financial literacy and entrepreneurship skills which limits their participation in financial matters.

Kabambe said financial illiteracy results in many young people to struggle with large amounts of debt which result in negative repercussions on their development and well-being.

The Governor said as part of the commemoration the Reserve Bank of Malawi will undertake various financial education activities.

“We will conduct educational visits to selected financial service providers, awareness campaigns at various schools, panel discussions, television and radio adverts.”

The Global Money Week is commemorated in March every year and this year’s theme is ‘Money Matters Matter’.