Financial Literacy Program To Curb Teachers’ Financial Embarrassment

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Botswana Teachers Union has partnered with Letshego and Ignyt Wealth Training Institute to engage School Heads on a financial literacy program that provides regular consultancy on retirement planning, debt management, investment, risk management as well as insurance and pre-marital financial counseling in Maun. A 2-day session of this program was held in Maun recently.

Botswana Teachers Union Regional organizer Innocent Puso said over the years, their office has been inundated with cases of financial embarrassment among teachers who fail to manage their finances, with some being imprisoned for failure to service debts.  

Puso further explained that in the Public Service, Financial Embarrassment is an offence that can cost one their job therefore the initiative or the program will go a long way to help teachers with financial knowledge.

Speaking at the clinic, Ignyt Wealth Director Seatla Ratshosa said the program covers all areas of financial education and wealth creation.

 He further noted that they offer a continuous counseling service through a contact center by financial counselors who attend to individual concerns, and provide advisory services to members.

He added that BTU members are consulted free because of the partnership, adding that their office is open for all teacher around the country to seek any assistance.

Meanwhile, Keabonye Maoto a 55-year-old head-teacher from Matlapana Primary school expressed gratitude for the program which she regarded as eye opener to finance issues.  

Maoto said the program offered them a life time opportunity, that would help them on managing their finances as well as ways to create wealth for themselves all of which do not feature in their career.

She further said it would have benefited them even more if the financial literacy program had been implemented at the start of their careers back in the days as they would have avoided the many bad financial decisions they have been making.

She urged the program directors to also target the young crop of teachers so that they grow with financial management knowledge.

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