Some Good News from Sudan – On Financial Literacy

> Posted by Jeffrey Riecke, Communications Assistant, CFI

Last month the Sudan Academy for Banking and Financial Sciences delivered financial literacy training to more than 1,000 credit agents. The training was given as part of a larger microfinance development program the Academy provides to Sudanese financial sector staff.

The literacy trainings covered a wide range of financial literacy topics, including budgeting, saving, financial negotiations, debt management, and basic familiarity with financial services. These are topics the credit agents may be able to use in their own lives, but more broadly, the credit agents are seen as the carriers of financial education messages to their clients. That is why the training also included such core client-relationship skills as listening and effective communication.

Academy President Dr. Awatif Yousif said, “The development of the microfinance sector in Sudan is central to Sudan’s overall economic development… Alongside efforts to increase the provision of financial products and services a parallel investment in financial literacy must be made so that microfinance clients have the knowledge to make best use of financing.”

The training was delivered by Silatech, a Qatar-based organization focused on spurring job creation and economic opportunities for youth in the Arab world. Silatech has conducted financial literacy trainings in other countries and was eager to extend its work into Sudan.

The Financial Inclusion 2020 campaign has organized a Financial Capability Experts’ Working Group to thoroughly incorporate this area of financial literacy into the campaign’s roadmap to full financial inclusion. For more information on Financial Inclusion 2020, and to explore becoming roadmap contributors or reviewers, sign up for project updates. For more on financial literacy, check out a few of our related blog posts below. 

Image Credit: Silatech

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