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MCK trains Kisumu journalists on financial literacy

The Media Council of Kenya (MCK) has rolled out a programme to foster financial education among journalists based in Kisumu County.

MCK has partnered with Absa Bank and ICEA Lion Insurance firm to pilot the Financial Literacy Programme for journalists and media practitioners at the Lakeside County before expanding it to other regions of the country.

The initiative targets to address financial matters bedeviling the society as well as groom the scribes to be able to creatively generate story ideas surrounding the subject.

Some 20 journalists drawn from various media houses benefitted from the inaugural free training session.

The Director, Media Training and Development at MCK Victor Bwire while speaking during the opening of the two days’ workshop at a Kisumu Hotel on Tuesday, underscored that suicide and depression cases among journalists were on the rise occasioned by lack of personal financial literacy and funds mismanagement.

He says that saving culture is not ingrained in Kenyans forcing the regulator to capacity build journalists to help raise awareness among the public in a bid to reverse the trend.

According to a report by EFG Hermes, 2021, 88 per cent of Kenyans do not save regularly for a rainy day due to high spending culture and the gradual rising cost of living.

Bwire says that there is a need to educate the public on financial matters regarding investments, savings and insurance to increase its uptake.

“The Inter-Governmental Authority on Development (IGAD) has unveiled an insurance scheme for livestock in the arid and semi-arid regions in Kenya, Djibouti, Ethiopia, Somalia and Eritrea to protect smallholder herders from drought and other climate related risks,” Bwire stated.

“We should for instance encourage the fishermen and fishmongers from the Lake Victoria region as well as investors in other sectors to embrace insurance schemes to cushion their ventures from losses,” he said.

On his part, Absa Bank Kisumu branch manager Wesley Ngetich challenged the journalists to take advantage of the different products offered by various banking institutions to invest and participate in wealth creation at the onset of their careers.

Further, he urged the participants to establish their own side hustles besides employment to ensure a stream of extra income to unlock their financial independence.

The event was also attended by MCK Western Region Coordinator, Mr Teddy Evans.

By Robert Ojwang’

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