Associations advocate more funding for financial literacy

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Associations advocate more funding for financial literacy
Associations advocate more funding for financial literacy

Africa-Press – Angola. Civil society organizations defended this Tuesday, in Luanda, the need for more funding for financial literacy, as a way of awakening the culture of savings in families, especially to guarantee training, food and health.

The general secretary of the Youth Community Support Association – AJACOM, Watuzemba Frederico, said that there is little investment in regular education on the subject of finance and savings, and it is necessary to resort to Non-Governmental Organizations to increase knowledge of the target population.

“Although there is a lot of consumerism in Angolan society, it is also true that families are gradually gaining a culture of saving, especially to guarantee training, food and health”, he indicated.

Watuzemba Frederico believes it is necessary to define more public policies of a macro and micro nature, of encouragement and education aimed at families, youth and children.

He stressed that NGOs can develop actions to rationalize financial resources, to guarantee the vitality of the organization, “but most of the time NGOs manage more people than financial resources, hence the need to obtain minimum and/or reasonable knowledge on issues savings, so that members and volunteers remain in the organization”.

In turn, the consultant and general coordinator of the Group of Civil Society Organizations for Participatory Budgeting (Goscop), Nelson Paulo, considers that the basis of the savings culture is the financial system, social and economic integration, and the educational , three systems that must be at the service of “real people”.

He reinforced that data from the National Bank could provide information on the savings capacity of Angolan families, “which I assume is very low, especially at the level of the population at the “base of the social pyramid”.

Nelson Paulo says that NGOs have lost their capacity to respond, with the withdrawal of international funders.

“The recovery of this NGO response capacity requires us to strengthen (civic or humanitarian diplomacy) so that we have more NGOs having quality relationships with international organizations”, he said.

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