Omolabake Fasogbon
Over 90,000 children from across six African countries, including Nigeria have benefitted from a financial literacy empowerment initiative sponsored by Access Bank Plc, as part of activities to mark the 2024 Global Money Week (GMW).
The initiative was executed in partnership 9ijakids and Kidpreneur Africa, and aims to bridge financial literacy gap and promote financial inclusion among African children.
In a recent survey by United Nations Educational, Scientific and Cultural Organisation (UNESCO), less than 20 per cent of African children have received any form of financial education in school, leaving majority at a disadvantaged position to handle financial challenges later in life.
According to the bank, the wide financial literacy gap among children spurred the initiative since 2021, which together with partners like 9ijakids and Kidpreneur Africa have been able to equip a considerable number of children with basic financial knowledge.
This year alone, the bank has trained over 70,000 in over 250 schools across 20 states in Nigeria, and more than 20,000 from Ghana, Zambia, Botswana, Cameroon, and Kenya.
Participants were taken through sessions on saving, investing, and earning, while a bank account was also opened for them.
Speaking, the Head of Sustainability at Access Bank, Omobolanle Victor-Laniyan, expressed the bank’s belief in financial literacy to foster sustainable economy. She further disclosed plans by the bank to support 25 schools in setting up financial literacy clubs.
“By equipping children with financial management skills, we are not only securing their future but also laying the groundwork for economic prosperity and development.”
One of the beneficiaries and a student of Aguda Senior Grammar School, Blessing Collins shared her success story from participating in the programme in 2023, which according to her was able to start a coconut chip business following the knowledge from the program.
