General Information and Instructions
When?
Hosted over three months, the Premier National Financial Literacy Competition will be held in 2025 from July, August to September 2025.
Why?
In Zambia, financial literacy levels are relatively low among adults, with most of the rural folks being more affected than their adult counterparts in urban areas. Lack of financial knowledge can lead to poor financial decisions, debt, suicide and financial exclusion among both the youth and adults.
What?
We expect participants to answer 10 random questions covering a broad range of basic financial literacy questions.
Who?
Students (18 – 35), Youth (18 – 35) and Parent (18 - 35).
What You’ll Learn in the Competition
The National Financial Literacy Competition covers key financial topics aligned with the 2024 Zambian curriculum.
Core Financial Literacy Topics
Fundamental concepts every participant should master
Money & Currency
Understanding money, currency systems, and exchange rates in global markets
Earning Money
Various methods of income generation and employment opportunities
Goods & Services
Understanding products, services, and inflation's impact on purchasing power
Budgeting & Tax
Creating budgets at various levels and understanding taxation systems
Saving Money
Different strategies and methods for effective money saving
Investments
Stocks, bonds, real estate, and other investment vehicles
Banking Services
Banks, mobile money services, and digital payment systems
Debt
Understanding different levels of debt and ways of managing debt.
Assets & Liabilities
Understanding difference between assets and liabilities.
Advanced Topics (Zambia 2024 Curriculum)
Enhanced financial concepts for comprehensive understanding
Money Characteristics
Essential properties and features that make something function as money
Supply & Demand
Economic laws governing market prices and availability
Money Laundering
Identifying and preventing illegal financial activities
Financial Risks
Understanding and managing various financial risks and uncertainties
Insurance Services
Insurance companies, policies, and social security firms
Trading & Commerce
E-commerce platforms and modern trading practices
Loans & Borrowing
Types of loans, borrowing sources, and lending practices
Banking Documents
Essential banking paperwork and commercial bank importance
Payment Cards
Visa, debit, and credit cards - usage and management
Participant Categories
Students
Students enrolled in any tertiary institution, pursuing graduate, diploma or certificate studies aged 18 – 35 years
Youth
A youth is a person aged 18 - 35 years. Such persons could be employed or not.
Parent Pair
A parent represents a person aged 18 – 35 years.
Competition Structure
Chances
1 Bullet, 1 Chance, 1 target per week for two months. Our competition is organised in sessions which last two weeks. Each participant is given one chance per week to take the quiz. Therefore, each participant has two entries per session. Prize-giving marks the end of a two-week session. .
Format
Participants are expected to answer a specified number of multiple choice questions for their category.
Delivery
The competition will be delivered online with questions popping up one after the other.
Timing
The quiz is administered within a specified period for each category.
Submission
The answers to the quiz are automatically submitted once an answer is clicked. Submission is also done automatically by the system if the time elapses.
Scores
The system automatically generates a score which is displayed on the screen. If the score is 80% or more, one stands a chance to win prizes and awards. However, a score of less than 80%, directs one to re-enter the competition.