QNET, an e-commerce lifestyle and wellness company, on Saturday reaffirmed its commitment to advancing financial literacy in emerging economies.
The Regional Manager, QNET Sub-Saharan Africa, Mr Biram Fall, said this in a statement to celebrate the 2023 International Literacy Day.
Fall said that QNET would be showing its financial literacy support through its initiative – ‘Fingreen’.
He said that as the world undergoes profound transitions, the importance of financial literacy cannot be overstated.
According to him, in a world in transition, understanding and managing finances are essential for individuals and communities to thrive.
He explained that financial literacy forms the bedrock for creating stable and peaceful societies, aligning perfectly with the 2023 International Literacy Day’s theme: “Promoting literacy for a world in transition: Building the foundation for sustainable and peaceful societies.”
“In a constantly changing world, QNET’s FinGreen initiative remains steadfast in its mission to promote financial literacy.
“As we celebrate, it is crucial to stress the role financial literacy plays in constructing secure and peaceful societies.
“Through our flagship financial literacy programme, FinGreen, we are dedicated to providing people with the knowledge and skills they need to make informed choices about their financial futures, ultimately contributing to a brighter, more stable world,” Fall said.
He said that the celebration of International Literacy Day offered the opportunity to accelerate progress toward the achievement of Sustainable Development Goal four (SDG4), which is quality education.
Fall noted that one of the targets of the goal was to substantially increase the number of youth and adults with relevant skills, including technical and vocational skills for employment, decent jobs, and entrepreneurship.
He said that according to a 2015 Nigerian financial survey, financial illiteracy is prevalent in urban and rural areas, with rates at 31.1 and 68.5 per cent respectively.
The regional manager added that studies also revealed that levels of education were generally low nationwide, as 50.7 percent of the adult population either lacked formal education qualifications or had only completed sub-primary education.
“The ability to unlock possibilities and construct secure and peaceful societies depends on one’s level of financial literacy in a world that is constantly changing.
“Through our flagship financial literacy programme, FinGreen, we are dedicated to providing people with the information and skills they need to make educated choices about their financial futures and ensure a better future for themselves.”
“A corporate ownership and control report clarifies that communities with higher levels of financial literacy experience lower crime rates and greater economic stability, as financial literacy is a determinant of individual wealth accumulation and social well-being,” he said.
Mr Abiodun Ajisafe, Managing Director, Transblue and QNET’s Legal Partner in Nigeria, said that financial literacy was not just about managing money, bur about empowering people to take control of their lives and make meaningful contributions to their communities.
“We are proud to partner with QNET’s FinGreen initiative in this noble endeavour.
“The programme’s second phase, launched in August, has received encouraging and wonderful responses and engagement from the participants as they reaffirm the value of our efforts in empowering participants with financial knowledge.”
He said that as the world embraces change and transitions into an uncertain future, QNET’s FinGreen remained committed to promoting financial literacy as a cornerstone for building sustainable and peaceful societies.
Ajisafe said that FinGreen empowers women and youth in emerging economies to take control of their financial destinies.
