Commerce

Governor tips parents on savings culture

Monday, July 4th, 2022 04:40 | By
Nakuru Governor Lee Kinyanjui. PHOTO/Raphael Munge
Nakuru Governor Lee Kinyanjui. PHOTO/Raphael Munge

Parents have been challenged to instill financial literacy in their children as one way of expanding their economic and social opportunities in a bid to enhance their ability and capacity to venture into successful businesses.

Nakuru Governor Lee Kinyanjui observed that youths need to know key financial skills, including saving, investing, budgeting, and debt management, which are crucial for financial success at a personal and entrepreneurship level. Speaking during Ushirika Day celebrations in Nakuru, Kinyanjui said a saving culture would help break barriers that stand in the way of youth taking control of their financial future by promoting financial inclusion. He said it was worrying that a number of youths in the country were busy investing their money in betting with hopes of winning huge amounts of cash, warning that the trend leads to desperation and depression.

“I have not met one a single person who has amassed wealth through betting, we only have owners of betting firms who are hyping our young people, youth face challenges like access to relevant financial skills training, a core component in making their dreams in life a reality,” said Kinyanjui

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