By Omotunde Alawode
•L-R: Coordinator, GMW, Ifeoluwa Oyewo; student of Baptist Secondary School, Ibadan, Oseghale Emmanuel; Omobolanle Adedeji and Donald Adedeji, GMW coordinators, during a financial literacy training programme for children.
African countries ranked lowest globally in financial literacy rates among youths. A survey conducted by UNESCO found that less than 20% of African children receive any form of financial education in school, leaving the majority ill-equipped to handle financial challenges later in life.
This highlights a critical gap in their education and preparation for the future. To curb this issue, Kidpreneur, in collaboration with Access Bank, one of Africa’s leading financial institutions, has been at the forefront in addressing this gap since 2021 through strategic partnerships with 9ijakids and Kidpreneur Africa.
Together, they have championed financial literacy initiatives among youths in Nigeria and other African countries where the bank operates. Over the past three years, Access Bank has empowered over 83,500 children with essential financial management skills.
During the Global Money Week (GMW) in March, Access Bank reached a significant milestone by empowering over 70,000 children across 20 states in Nigeria and five other African countries – Ghana, Zambia, Botswana, Cameroon, and Kenya. The campaign encompassed engaging financial literacy talks held in over 250 schools, the distribution of educational resources and interactive financial literacy games where children had the opportunity to win over N2,000,000 in cash prizes.
Omobolanle Victor-Laniyan, Head of Sustainability at Access Bank, underscored the pivotal role of financial literacy in building a robust economy. She said: “At Access Bank, we believe that financial literacy is key to fostering a sustainable economy.
“By equipping children with financial management skills, we are not only securing their future but also laying the groundwork for economic prosperity and development.”
Throughout the awareness sessions, students received comprehensive training on financial literacy, encompassing topics such as saving, investing and earning.
Additionally, Access Bank facilitated account opening for the children in various locations where the sessions were held, fostering a culture of saving from a young age. This initiative exemplifies Access Bank’s steadfast commitment to promoting financial inclusion among children across Africa.
Blessing Collins, a student of Aguda Senior Grammar School, shared her inspiring journey from participating in last year’s financial literacy campaign organized by Access Bank to starting her own business selling, coconut chips. Her success story exemplifies the transformative impact of financial literacy initiatives on the lives of African children.
Access Bank said it remains dedicated to fostering financial inclusion among children, shaping a brighter tomorrow for generations to come. As part of its ongoing commitment, Mrs. Victor-Laniyan announced plans to support 25 schools in setting up financial literacy clubs to further drive financial literacy initiatives in Africa.