1.3: Enhance consumer education and literacy

Measurement
CMA working with Implementation Committee, other regulators, financial industry to form national committee and develop strategy - potential for input under CityUK MOU.
Working Group
Achievement

The Financial Sector Regulators partnered with KICD to infuse financial literacy in the curriculum design. The new curriculum is being piloted in the 47 counties. In addition, a community service learning programme was developed in March 2017 that will incorporate more aspects of financial literacy and entrepreneurship.

In September 2017, the Authority engaged a consultant to conduct an impact assessment and opportunities study on investor education which was completed in June 2018. The consultant generated the report and is awaiting final adoption to inform a white paper on Consumer Financial Education Policy and Strategy expected in December 2018.

A certification program has been implemented since April 2016 for the market facilitated by Chartered Institute of Securities and Investments.

In January this year, the Authority in collaboration with the Chartered Institute for Securities and Investments had an award ceremony to recognize top performers from the exams offered in Kenya within the context of initiating the implementation of a Continuous Professional Development program for industry professionals. The CPD Modules are currently being developed for market practitioners in collaboration with CISI.  Upon completion of the modules, the market will be sensitized with a view to introduce the program within the 2018/2019 financial year.

Status
In Progress
Measurement
Bi-annual Impact Assessment Survey.
Working Group
Achievement

The Authority has continued to implement its Investor Education and Public Awareness strategy through road shows, media, open days and county workshops.
Total number of forums - 220
Open days and exhibitions - 25
Road shows- 10
Counties engaged - 20
University Challenges - 2

Status
In progress

Key

No Progress
Behind Schedule
Ahead of Schedule