Insurance Company Prudential Uganda, yesterday climaxed a 6 week training of primary school children in a wide range of financial literacy skills.
The company, which opened its doors in Uganda a few years ago, partnered with the Junior Achievement Uganda to train over 500 pupils in two city schools.
The beneficiaries were Primary 5 pupils of Nakasero Primary School and Kampala Junior Academy, who were trained by volunteers from Prudential and Young Achievers.
The training according to CEO Prudential Uganda Arjun Mallik, covered topics like, saving money, earning, and spending wisely. The youngsters were also trained in donating to those in need.
The training program intruded the Cha-Ching Money-Smart Kids, a highly rated, award winning financial literacy program
Cha-Ching a title relating to the sound of coins (money) introduces 9-11-year olds to academically enriching and experiential leaning sessions in economic education using the Cha Ching Curriculum.
The content was developed by Junior Achievement Asia Pacific, funded by Prudence Foundation, the community investment arm of Prudential Plc and developed by Cartoon network.
“We are doing this because we believe that the concepts of financial literacy start young. I wasn’t lucky to get training when I was young about earning, spending prudently and donating,” said Prudential CEO Mr Mallik
“We want to make sure that when these kids grow into adults, they have the benefit of this kind of knowledge. We believe that those that got the training will have a better chance of being financially savvy, when they grow up.”
Mallik revealed that the training program is something that they plan on doing every year, and depending on the results, they intend to expand it to more schools.
He further explained, “We are not teaching children young enough the benefit of being prudent with their money. If you grow up and you don’t know the importance of saving and spending wisely, you are disadvantaged.
At the function which was also attended by officials from KCCA and the Ministry of Education, Nakasero Primary School head teacher Charles Sengendo, expressed optimism that government will soon frealize the need to include financial literacy in the periodic curriculum reviews for primary schools.
“People in the education system I am sure are watching. We need to include this in our education system,” he said.
KCCA Education Supervisor Kampala Central division Paul Malala applauded Prudential for the initiative adding that such financial literacy programs will go a long way in providing knowledge and skills that young stars need to make better financial decisions as adults.