ABSTRACT
According to S&P’s Global Financial Literacy Survey, African countries have the worst financial literacy levels in the world. It is generally agreed that financially literate persons make the best possible financial and economic decisions, and are most likely to weather disturbances caused by a financial crisis. To this end, the adverse financial impacts of the COVID-19 pandemic exposed the need to improve financial literacy as a strategy to prepare African people, especially its youth, in navigating future global crises. Given that the Basic Educational Curriculum (BEC) of many countries – which includes primary and secondary level education – works as strengthening and foundational curriculum content on life skills and life orientation, the question becomes whether the BEC financially prepares citizens through financial literacy education. This chapter attempts to answer by studying the basic educational curriculum, mostly in Nigeria, as a main focal point to determine if the BEC rises to the occasion. Ultimately, the chapter provides recommendation on ways financial literacy education may be incorporated in the BEC and other platforms in financially preparing citizens for their financial future while simultaneously facilitating financial inclusion.
