As part of the Financial Literacy Week celebrated by the country, Stanbic Bank staff members spent time last week, Tuesday 15th March 2016, talking to Nkhwazi Primary School students on financial literacy and proper money management.
This campaign corresponds with financial literacy week actives, which run from 11th to 20th March, 2016. This year’s events, held under theme; ‘A Better Life through Saving: It Pays to Plan’, advocated the importance of saving and how smart saving helps children, youth and adults in securing their future.
This visit formed part of a series of initiatives the Bank has undertaken to promote financial education among Zambians. 88 Grade 7 students at Nkhwazi Primary School learned about the importance of budgeting and saving and other fundamentals from Stanbic Bank employees, based on the Stanbic Bank Financial Education Plan for Students.
Stanbic Bank PR and Communications Manager, Mrs. Chanda Katongo said “Stanbic bank believes that financial literacy is of the upmost importance and is beneficial at all stages of life. Having financially literate and competent citizens will not only help contribute to building a society that can effectively manage their finances but also empower Zambians to make better financial decisions and participate fully in the country’s economy. That is why we are educating these students and sharing advice on saving and the importance of managing money properly.”
Nkhwazi Head of School, Mr. Davies Kabo said, “Nkhwazi Primary School would like to thank Stanbic Bank for coming to our school and talking to our Grade 7 pupils. Every child should have basic knowledge and understanding about money management, budgeting and how to save and spend responsibly. Understanding how to manage finances are important skills young people need to develop early in life and are critical to their future success. The knowledge they have learnt from the Bank will be used by them as well as be passed on to others.”
The Bank will continue to invest in Financial Education even beyond the Financial Literacy Week. The Bank recently launched Financial Education with Stan, the Stanbic Guy. This is an animation series that is meant to educate the masses as it airs on ZNBC TV1 during the main news. The animation helps with the first step to creating money-smart children. When a child saves a coin, it represents a beginning of a healthy money habit. As they save a little more they begin to understand the importance of saving and can dream and plan about when and how to spend the money n a responsible manner.