It is interesting to note that one of the most famous quotes of the revered Nelson Mandela is about education. It goes like this; “Education is the most powerful weapon which you can use to change the world”.
One area that is very important has to do with financial education. A major problem being experienced by individuals, households and small businesses in sub-Saharan Africa relates to financial exclusion and a low savings rate. This of course is largely due to a low financial literacy levels, amongst many other factors. According to the Bankers Association of Zimbabwe (BAZ) Economic Bulletin, Zimbabwe’s savings rate as a percentage of gross domestic product is estimated at 10% which shows that there is a low savings culture in the country. Of the estimated 15 million people in Zimbabwe, only 20,000 are active investors (representing less than half a percent).
The levels of financial literacy in Zimbabwe are low, particularly when compared to developed and emerging market standards (USA, UK, Brazil and China). This calls for a need to improve financial literacy within the general populace to improve participation in investment markets and promote the development of personal investment strategies. piggybankadvisor.com has partnered with the Securities & Exchange Commission of Zimbabwe (Seczim) and the Investor Protection Fund (IPF) in an initiative that will entail undertaking broad-based financial literacy campaigns through digital platforms.
The campaigns will be targeted at individuals, households and small businesses (SMEs) and are aimed at improving financial literacy levels while increasing the participation of individuals on local and global investment markets.
While Piggy will be making use of various content such as videos, infographics and short films, he will also be making use of the Investor 101 Handbook to create short-form educational articles or investing nuggets that are easy to digest.
Of course, the Investment 101 Handbook (launched by Seczim in partnership with the Investor Protection Fund) provides a solid foundation from which to drive the financial literacy agenda through digital content creation.
The “What is Piggy Saying” podcast will also be key in terms of discussing topics covered in the published articles on www.piggybankadvisor.com. “What is Piggy Saying” is an insights and analysis show that covers economics and the stock market in Zimbabwe. Piggy has also noted that communities and engagement are crucial in as far as information sharing and learning in concerned. Listeners and readers are therefore encouraged to be part of our network of trading and investing enthusiasts by joining the Piggy Bank Advisor WhatsApp groups. These are powerful forums that enable one to learn new concepts and share ideas. Piggy will also be coordinating webinars and online meetings through these forums. This is an initiative that every trader and investor on our capital markets should be a part of!
The call action
Download a copy of the Investor 101 Handbook. This will be our “Investing Bible” on which most of our content will be anchored on;
Subscribe to the piggybankadvisor.com website. This will enable you to get an e-mail notification every time there is a new post on the site;
Be part of the Online Communities WhatsApp. Piggy has been running The Green Piggy Bank on your Cell-phone Campaign and this has led to a significant growth in our online communities. The idea is to share ideas through a network of like-minded investors and traders;
Subscribe to the “What is Piggy Saying” Podcast on your cell phone, tab or ipad.
The podcast is available on the following platforms;
Finally, be part of the campaign and help Piggy expand the network by liking and sharing Piggy’s content on social media platforms and
In conclusion, Piggy believes that financial literacy campaigns of this nature has significant economic and social impact.
This initiative will not only build capacity but will also (i) solve the problem of poor financial literacy in Zimbabwe, (ii) promote idea generation through information sharing; and (iii) empower individuals to make use of digital platforms and create new economic opportunities.
Matsika is the head of research at Morgan & Co and founder of piggybankadvisor.com. — email@example.com / firstname.lastname@example.org or mobile: +263 783 584 745.