Old Mutual Malawi has intensified its nationwide financial literacy campaign by engaging members of the Malawi Defence Force (MDF) and several civilian institutions in a series of financial education workshops aimed at equipping people with practical money management skills during the country's difficult economic period.
The initiative, which has already reached hundreds of participants across various military formations and public institutions, focuses on empowering Malawians with knowledge on budgeting, savings, investments, debt management, and retirement planning.
Speaking in an interview after the latest sessions, Old Mutual Malawi Financial Education Manager Benard Chiluzi said the company believes financial literacy is becoming increasingly important as many households struggle with rising living costs, debt burdens, and economic uncertainty.
Chiluzi said the workshops are designed to help both soldiers and civilians make informed financial decisions capable of improving their long-term financial stability and personal well-being.
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"We aim to equip both soldiers and civilians with practical financial knowledge and skills to help them make informed financial decisions," said Chiluzi.
According to him, the sessions covered key areas such as financial mindset transformation, savings and investment options, emergency and opportunity funds, retirement planning, budgeting, and responsible debt management.
"These topics are particularly critical given the current economic environment," he explained.
The financial literacy campaign has so far reached several Malawi Defence Force units, including the Navy Battalion in Mangochi, Cobbe Barracks and Changalume Barracks in Zomba, MAFCO in Salima, Mvera Battalion in Dowa, Moyale Barracks in Mzuzu, and Chilumba Barracks in Karonga.
Beyond the military, Old Mutual has also conducted sessions for a number of civilian institutions such as Africa Global Logistics, Beit Cure, the Malawi Parliament, and St Andrews Primary School, among others.
Observers say the initiative comes at a crucial time when many Malawians are facing severe financial pressure caused by inflation, high borrowing costs, currency instability, and the rising cost of basic commodities.
Human Resources Manager for Africa Global Logistics, Catherine Makokola, commended Old Mutual for rolling out the workshops, saying financial literacy remains one of the most overlooked but essential tools for economic survival.
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"There is a great need to empower people with knowledge on how to manage their finances, handle investments, and prepare for retirement," Makokola said.
"Without such knowledge, many people will continue to live under considerable financial stress," she added.
Economic analysts have increasingly warned that many workers in both public and private institutions lack adequate financial planning skills, leaving them vulnerable to debt traps, poor investment decisions, and financial insecurity after retirement.
As economic pressures continue mounting, financial education is now being viewed not merely as a complementary service, but as an essential life skill capable of helping families withstand economic shocks and build long-term resilience.
Old Mutual Malawi is one of Malawi's leading financial services providers, with operations spanning savings, investments, lending, life assurance, and funeral services.
The company says its free financial education programme remains available to institutions and groups upon request as part of its broader commitment to promoting financial inclusion and economic empowerment across Malawi.
