By Ugo Aliogo
Prudential Zenith Life Insurance Limited has partnered with Junior Achievement Nigeria (JAN) to promote financial literacy skills and a savings culture.
The partnership which was facilitated by JAN will deliver ChaChing, an educational programme designed to provide primary school students between ages 9 and 11 with access to information and activities to develop financial literacy skills.
According to a statement made available to THISDAY by JAN, the programme would boost the low levels of financial literacy among young people, including those who have had fewer opportunities than others to learn about the financial world outside of school.
The statement further noted that Prudential Zenith Life Insurance and Junior Achievement Nigeria believe that good financial literacy is key to empowering people to make good financial decisions.
The statement further noted that ChaChing aims to provide young children with a good understanding of money management, ensuring they make ‘money-smart’ choices throughout their lives which would benefit the development of Nigeria.
According to the statement, “Colleagues at Prudential Zenith Life Insurance have volunteered to facilitate the delivery of the programme. They will teach the lessons, coordinate group activities with children, and act as mentors for pupils. The goal is to reach 500 primary school students in Nigeria by July 2020.”
The Chairman of Prudential Zenith Life Insurance Limited, Jim Ovia, in the statement said: “The Cha-Ching program aligns with our corporate social responsibility objective and will go a long way to improving the financial literacy and educational development of Nigerian children.”
Speaking on the partnership, Grants and Programmes Manager, JA Africa, Sena Goka, said the Cha Ching financial literacy programme was first piloted in Ghana back in 2016; and on the heels of that success, expanded to Kenya, Uganda and Zambia in 2017.
“To date, over 4000 primary school students across the four countries have been trained on the essential financial concepts of Earn, Save, Spend and Donate to educate them on how to make smart money management decisions,” she noted.
She further stated that: “Financial literacy education is especially important for young children because the opportunity exists to correct knowledge gaps proactively, rather than retroactively. We’re grateful for the opportunity to expand the Cha Ching programme to Nigeria this year, due to the generous support of Prudential Insurance UK.”
While commenting on the partnership, the Director of Marketing and Innovation, JAN, Ms. Oduolayinka Osunloye, said that the collaboration with Prudential UK through JA Africa, was borne out of the social exigency to educate young minds about financial literacy, noting that it is a critical factor necessary to becoming future conscientious business leaders.
She stated that: “Junior Achievement Nigeria is delighted about the partnership as it provides engaging, academically enriching and experiential learning sessions which will help students begin to apply financial literacy and critical thinking skills to make wise money management decisions and ultimately prepare them for a financially secure future.”