JA Africa, Fidelity Bank, GIZ, and Prudential launched a financial literacy campaign at Christ the King International School, Accra.
The theme of the campaign, ?Literacy Counts?, underscored the need to expose young people to money management skills as early as possible. The partners launched the first phase of this campaign through the ?Literacy Counts Challenge? -a fun, ?hands on? team building experience targeting junior secondary school students.
The event saw the patronage of Volunteers from Stratcomm and The Abraaj Group who were present to support the campaign and activities of the day.
Prior to the challenge, students learned the basics of finance and money management through a series of multi-media presentations. They were also exposed to experts from the banking, insurance and development sectors. The challenge, which they had to solve by working together in multilayered teams, required them to develop a product to improve savings behavior among junior secondary school students. A total of 173 students, initially divided into 20 groups of 8-9 students, competed for the best product idea. The top 4 business ideas were then selected to go to the final round of competitions, for the winning product plan. Many innovative concepts emerged from this exercise. However, the winning idea came from the Sparrow House with their Save It Up scheme, which proposes the use of monetary incentives for students to work hard and improve their grades while saving. It is also designed to involve the school administration as a way of simplifying the saving process for students.
According to Dr. Chinwe Effiong, President of JA Africa, ?the Literacy Counts campaign was designed to stimulate imagination, build the financial aptitude of young people and provide a forum for them to practice collaborative problem solving and public speaking. ?All of these,? she notes, ?were accomplished today, thanks to the power of partnership!?
The Director for Inclusive Banking for Fidelity Bank, Dr. William Derban commended JA for initiating this campaign and for its good work in Ghana over the past 10 years. He noted that Fidelity Bank upholds the importance of financial education and the inclusion of young people and is committed to developing products that enable young people to maintain healthy money management behavior, irrespective of their location.
The host school, Christ the King International, represented by Sr. Dr. Jessie Quist also commented on the program: ?It is good, educative and innovative, and the partners have shown a lot of commitment and support today. We were very happy to host it and hope it will be a continuous program.?