Standard bank Chief Executive, Phillip Madinga at the launch
* Launched on June 19 in Lilongwe, the service is free that is offered to all Malawians (Standard Bank clients and none account holders) in cognizance that financial literacy is a necessity
* At Standard Bank, we believe that Malawi is our home, and we drive her growth — hence we want to fill the gap in financial knowledge
* In today’s fast-changing economic environment, knowing how to manage one’s income, planning their expenses, and protecting their wealth is essential to achieving long-term stability and success
By Duncan Mlanjira
Standard Bank Plc has unveiled a Financial Fitness Academy, a comprehensive initiative designed to improve financial literacy across the country and help Malawians plan, grow and protect their wealth.
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A statement from the Malawi Stock Exchange (MSE) listed bank’s Chief Executive, Phillip Madinga, says the Financial Fitness Academy will serve as a central hub for financial education — utilising a wealth framework designed to help customers create value and purpose in managing money and wealth.
He says the academy will cover wealth creation, investment, estate planning, risk protection, among others — as the bank “recognises the importance of equipping customers with financial knowledge amid rising uncertainty and growing interest in wealth management”.
“Financial management is a critical part of the overall well-being of customers as they strive to make confident and informed financial decisions,” says Madinga. “Through the Financial Fitness Academy, we aim to close the financial literacy gap and help our customers make the most of their sometimes limited resources and take charge of their financial futures — from everyday budgeting to long-term wealth protection.”
He added that the launch of the Financial Fitness Academy aligns with Standard Bank’s longstanding commitment to financial empowerment and responsible banking.
“At Standard Bank, we believe that Malawi is our home, and we drive her growth — hence, we want to fill the gap in financial knowledge. Since customers will be heavily immersed in financial literacy, we are confident that the initiative will contribute to the development of the economy.”
The academy is set to be Standard Bank’s hub of effective conversations, providing customers with the tools needed to plan for and take control of their financial future — and Madinga adds: “Personal finance planning and management is one of the most important conversations we should have as a society, yet it remains one of the least discussed topics.
“Therefore, the academy will initiate such conversations with customers that are necessary to effectively manage and grow their finances,” he says, adding that “financial literacy is the cornerstone of a resilient economy”.
“Initiatives like this play a vital role in empowering individuals to make informed financial decisions, manage risks, and build sustainable wealth. By investing in the financial education of its customers and communities, Standard Bank is contributing meaningfully to the broader goal of national financial inclusion and stability.
“The bank understands that a lack of knowledge leads to poor decision making – a fact that is true even in personal finances. Standard Bank is therefore taking a proactive and responsible step in launching the Financial Fitness Academy to help Malawians better manage their financial lives,” says the Chief Executive.
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Launched on June 19 in Lilongwe, the Financial Fitness Academy (FFA), is a free service that is offered to all Malawians (Standard Bank clients and none account holders) in cognizance that financial literacy is a necessity.
The bank greatly recognises that in today’s fast-changing economic environment, knowing how to manage one’s income, planning their expenses, and protecting their wealth is essential to achieving long-term stability and success.
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