Bank of Africa Teaching Kids How to Save Money

Bank of Africa Teaching Kids How to Save Money
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A new children’s program which involves parents, teachers and elders to help and motivate young ones to save by setting an example, has today (Monday, 28th) concluded a 30 day-long phase.

Dubbed the Koin Challenge, it seeks to instill the culture of saving in children is run in partnership with I Profile Foundation and global giants Bank of Africa.

The program saw participation of 13 schools in Kampala and Sembabule districts with over 320 participants who have been saving over the last month and have opened saving accounts courtesy of Bank of Africa.

“Bank of Africa is excited to be part of this project which will drive a saving culture and financial discipline amongst the young ones. The financial literacy attained through this program is key to later financial freedom and security,” Mr. Steven Kwesiga, the Bank of Africa Head of Marketing and Product Development explained.

He added, “With the current economy in the country, it is highly advised that we begin to save at an early age and instill this culture into the young ones. We are happy to have ventured into this with our partners at I Profile Foundation and US Embassy.”

The program was specially designed with workshops and fun activities for the school kids aimed at teaching them financial management lessons like; money history, budgeting, spending, goal setting, among others.

“The encouragement of savings provide an opportunity to safe guard the future of many families .This program will scale up to cover more regions and countries in Africa,” Public affairs Officer, Mrs. Suzan Packer- Public Affairs Officer, US Embassy said.

Also speaking at the event, Aisha Ali, the team leader at I Profile Foundation thanked all partners for their support and for applauded the children for being part of this activity.

She said, “Children today are entering world where financial literacy is crucial. Being able to inculcate not only a saving culture but also financial discipline is a humbling journey for us as a team; we look forward to nurturing future business owners.”

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