Imperial Bank embarks on child financial literacy exercise

Nairobi, 18th March 2015

Imperial Bank embarked on a two week campaign aimed at empowering children and youth about the importance of money, saving and entrepreneurship as an exercise on raising awareness for financial education in Kenya through various interactive activities. This was part of the annual Global Money Week celebrations whose theme was ‘Save today. Safe tomorrow’ which was undertaken in several countries from every continent of the world between 9th and 17th March, this year.
Speaking during a school visit to Kinyanjui Road Primary School in Kawangware, Nairobi, Imperial Bank’s Junction Branch Manager, Maureen Maina said, “As Imperial Bank, we are committed to improving the lives of the children in our society. We therefore saw it fit to participate in the Global Money Week activities to raise awareness to children about the importance of having a savings culture from a young age. This is something parents will normally overlook in their discussions with their children.” The Junction Branch team visited the school in efforts to spend the day with the students and educate them on the importance of money and savings through talks and fun learning activities. The bank also announced its sponsorship of ten bright children from the school.
According to the school’s principal Christopher Muguti, most of the students at Kinyanjui Road Primary School are from the neighboring slums and are underprivileged. Their parents therefore do not have the educational background to inform their children about the importance of savings in order to secure their future.
According to the Child and Youth Finance International secretariat, less than 1% of all children in the world have access to financial education and financial inclusion, one billion children all over the world live in poverty and many young people are struggling with large amounts of debt, resulting in negative repercussions on their development and well-being due to financial illiteracy.
Imperial Bank’s Head of Marketing, CSR & Sustainability, Muthoni Wachira-Kanyana said, “Imperial Bank is committed to promoting and fulfilling the rights of children and this includes empowering them on the basic principles of financial literacy. It is important to teach children from a young age in order for them to grow up as responsible adults.” So far the bank has actively engaged with over 1,500 children in different parts of the country through various activities where the bank has presence namely; Nairobi, Mombasa, Kilifi, Eldoret, Nakuru and Thika.

In pictures

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Imperial Bank’s Junction Branch Manager, Ms. Maureen Maina, hands over a cheque donation to Mr. Christopher Muguti, the Principal of Kinyanjui Road Primary School in Kawangware. The bank opened Marble Junior Savings Accounts for the top ten students and deposited funds in their accounts which will go towards financing their education. This was part of the bank’s Global Money Week celebrations conducted across the bank’s network in the country with the aim of empowering children and youth on financial literacy and inclusion.

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Imperial Bank’s IPS Branch Manager Mr. Gerald Kamoni teaches Marble Junior Savings Account holders how to fill in deposit slips as part of a financial literacy exercise conducted across the bank’s network in the country for the annual Global Money Week celebrations. The branch hosted a fun day whereby they taught children about the importance of saving from a young age in order to plan well for their future.