Enwealth, EAK partner to educate children on financial management

With Kenya’s savings rate among the lowest in the region and many households facing financial uncertainty, Enwealth Foundation Limited and the Evangelical Alliance of Kenya (EAK) have announced a new partnership aimed at equipping children with essential money management skills from an early age.

The two organizations have signed a Memorandum of Understanding (MoU) to implement the Biblical Financial Literacy Program for Children—a first-of-its-kind initiative in Kenya that integrates faith-based values with practical financial education.

Developed by Enwealth Foundation, the program is designed to instill responsible financial habits in children and promote long-term economic discipline.

Kenya’s national savings rate stood at 13.7% of GDP in 2023, according to the World Bank—well below the Sub-Saharan Africa average of 17.9%.

A 2022 survey by Enwealth Financial Services found that 42% of Kenyans save only between 6% and 15% of their income, often prioritizing large purchases, travel, and leisure. Alarmingly, only about 15% of Kenyans actively save for retirement, highlighting the need for early financial education to address poor saving behaviours.

Studies show that individuals introduced to financial literacy concepts in childhood are more likely to develop consistent saving habits, budget effectively, and avoid debt traps in adulthood—behaviours critical to financial security. The new program aims to lay this foundation early using a curriculum that promotes principles such as discipline, integrity, planning, and generosity, anchored in biblical teachings.

The initiative will be rolled out nationwide through EAK’s network of over 50,000 churches, potentially reaching up to 10 million members. It will be delivered through Sunday schools, children’s ministries, and faith-based institutions using scripture-based lessons and age-appropriate teaching materials.

Ken Monyoncho, Director at Enwealth Financial Services, said the initiative responds to the growing financial pressures facing young people:

“The program helps children view money through the lens of responsibility and purpose, preparing them not just for personal financial success but also to become responsible members of their communities.”

Rev. Kepha Nyandega, General Secretary of the Evangelical Alliance of Kenya, emphasized the spiritual dimension of the program:

“Financial literacy from a biblical perspective is not just about knowledge—it’s about discipleship. It’s about raising a generation that understands the value of stewardship and the purpose of money in God’s design.”

By integrating financial education into religious settings, the program seeks to reach communities that may otherwise lack access to formal financial training. It is part of a broader effort to build stronger financial foundations among Kenyan families and foster a culture of informed and values-driven money management from a young age.