Students discuss financial literacy
Botswana stock exchange facilitated a panel discussion on the day of the October opening bell ceremony. The Panel discussion hosted three students from three senior schools who discussed issues of financial literacy in Botswana.
The three students were Ntompe Debbie from St. Joseph’s College, Precasto Lefiri from Gaborone Senior Secondary School and Kevin Nzala from Naledi Senior Secondary School.
Sixteen year old, Ntompe Debbie explained that she understands financial literacy to be a clear understanding of financial concepts. She explained that financial literacy is the key to debt elimination. Kevin Nzala who is 17 years of age explained that there is a deeper understanding to what financial literacy is as it connotes to one having a true awakening of self. He noted that the changing financial landscape pushes us to be financially literate. Precasto Lefiri, also 17, explained that financial literacy to him is having knowledge of using finances in a wise manner.
Lefiri indicated that this is pivotal as when one knows how to use money properly, they can be able to influence change even at the level of government policy makers. When discussing about the challenges of promoting financial literacy, Lefiri cited ignorance as one factor.
He blamed the culture which does not promote conducive environments at home to talk about finances nor teach the young about handling money.
Debbie explained that there may be a simpler reason behind this as many people may just not care about issues of financial literacy. Nzala, on the other hand, noted that many find themselves unprepared when they handle money and end up misusing it.