The Zambia Cooperative Federation (ZCF) and Zambia Institute for Mass Communications (ZAMCOM) have signed a memorandum of understanding (MoU) aimed at enhancing smallholder farmers’ understanding about financial literacy and agriculture.

Under the MoU, information on financial literacy matters cultural financing opportunities.

“This partnership entails bringing on board a number of stakeholders engaged in small-scale farmer development by providing specific information relating to financial literacy. ZCF does not have the capacity to advance such a programme, but with this partnership, we will change the way community radio stations operate,” he said.

Mr Chirwa urged community radio stations to start airing programmes that are relevant to the needs of their audience.

He said poverty levels in rural areas could greatly reduce if communities receive information on financial literacy to make informed decisions.

Earlier, ZAMCOM director Oliver Kanene said the institution and ZCF will help smallholder farmers to increase productivity, demand financial services and help Government and other players to achieve the ultimate goals of financial inclusion and poverty reduction.

Mr Kanene said the parties have chosen to use community radio because of its proven potential in rural development as a way to achieve the objectives of the partnership.

Advantages of using such a communication channel include the use of local languages and potential for using interpersonal communication through radio listener groups.

“In Zambia, the need for financial literacy is even greater considering the low levels of literacy and the large section of the population which still remains out of the formal financial set-up, especially in the rural areas,” he said.