In a bid to commemorate the 2023 International Literacy Day, an international lifestyle and wellness direct-selling company, QNET, has reaffirmed its unwavering commitment to advancing financial literacy, even as it has empowered women and youth in emerging economies.
As the world undergoes profound transitions, the importance of financial literacy cannot be overstated. In a world in transition, understanding and managing finances are essential for individuals and communities to thrive.
Financial literacy forms the bedrock for creating stable and peaceful societies, aligning perfectly with the 2023 International Literacy Day’s theme: ‘Promoting literacy for a world in transition: Building the foundation for sustainable and peaceful societies.’
Speaking on this year’s International Literacy Day celebration, regional manager, QNET Sub-Saharan Africa, Biram Fall, said, “In a constantly changing world, QNET’s FinGreen initiative remains steadfast in its mission to promote financial literacy. As we celebrate the 2023 International Literacy Day, we emphasize the crucial role financial literacy plays in constructing secure and peaceful societies.
“Through our flagship financial literacy program, FinGreen, we are dedicated to providing people with the knowledge and skills they need to make informed choices about their financial futures, ultimately contributing to a brighter, more stable world.”
The celebration of International Literacy Day offers the opportunity to accelerate progress towards the achievement of Sustainable Development Goal 4, “Quality Education”. One of the targets of this goal is to substantially increase the number of youth and adults with relevant skills, including technical and vocational skills, for employment, decent jobs, and entrepreneurship.
A 2015 Nigerian Financial Survey stated that financial illiteracy is prevalent in urban and rural areas, with rates at 31.1 per cent and 68.5 per cent, respectively. Additionally, the study revealed that levels of education are generally low nationwide, as 50.7 per cent of the adult population either lacks formal education qualifications or has only completed sub-primary education.
Biram Fall further said, “The ability to unlock possibilities and construct secure and peaceful societies depends on one’s level of financial literacy in a world that is constantly changing. Through our flagship financial literacy programme, FinGreen, we are dedicated to providing people with the information and skills they need to make educated choices about their financial futures and ensure a better future for themselves.”
The 2023 International Literacy Day theme embraces the reciprocal relations between literacy and other areas of development: Literacy is central to creating such societies, while progress in other areas of development contributes to generating interest and motivation in people. A Corporate Ownership and Control report clarifies that communities with higher levels of financial literacy experience lower crime rates and greater economic stability, as financial literacy is a determinant of individual wealth accumulation and social well-being.
Managing director, Transblue and QNET’s legal partner in Nigeria, Mr Abiodun Ajisafe, also shared his insights on the importance of financial literacy in a world in transition: “Financial literacy is not just about managing money; it’s about empowering people to take control of their lives and make meaningful contributions to their communities. We are proud to partner with QNET’s FinGreen initiative in this noble endeavour. The programme’s second phase, launched in August, has received encouraging and wonderful responses and engagement from the participants as they reaffirm the value of our efforts in empowering participants with financial knowledge.”
The impact of QNET’s FinGreen program on emerging economies is tangible. Testimonials from beneficiaries of the Financial Literacy Programme, FinGreen phase 2, highlight the transformational power of financial literacy. A beneficiary of the programme’s second phase, Richard Adedayo, said, “I am thankful to have this chance, and I look forward to improving my financial situation as well as fostering empowerment in as many people as I can, particularly young people like myself. I want to make it a point to ensure that I educate other individuals about their financial situations.”
As the world embraces change and transitions into an uncertain future, QNET’s FinGreen remains committed to promoting financial literacy as a cornerstone for building sustainable and peaceful societies.Through partnerships, programs, and testimonials like these, FinGreen empowers women and youth in emerging economies to take control of their financial destinies and contribute to a brighter, more stable world.”
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