Global Money Week Award |
Swaziland | Africa Lead organizations: Ministry of Finance - Micro Finance Unit, Central Bank of Swaziland and Ministry of Education Partners: Swaziland National Youth Council, Financial Services Regulatory Services (Stock Exchange), Nedbank, First National Bank, Standard Bank, Building Society, Swazi Bank, Swaziland Royal Insurance Company, African Alliance, Stanlib, Old Mutual, Select Financial Services, Leshego Financial Services, Fincorp, Swaziland Association of Savings and Credit Cooperatives, Junior Achievement, Swaziland College of Technology, University of Swaziland, Ngwane Park Youth Training Centre, Ngwane Teachers Training College, William Pitcher Teachers Training College, Limkokwing University, primary schools
INTRODUCTION During GMW 2017, the Micro Finance Unit of the Ministry of Finance of Swaziland partnered with the Central Bank and the Ministry of Education of Swaziland to conduct a nation-wide awareness raising campaign and engaged children and youth through various activities. AN OUTSTANDING APPROACH High-level discussions were held on the need to teach children to save, culminating in the agreement on the importance of integrating financial education into the school curricula. These discussions were held during the official launch of GMW 2017, which was officially opened by the Minister of Education and the Governor of the Central Bank, on the 27th March 2017. One of the highlights of GMW 2017 in Swaziland was a financial literacy awareness session offered for children and the youth, where 84 primary and tertiary school children received a lecture on the role of the
Central Bank as a financial regulator. After the lecture, 16 primary school children and 5 tertiary students presented essays before the Governor of the Central Bank, Chief Executive Officers of Financial Institutions and Ministry of Education Officers on why it is important for children and young people to start saving from an early age, also recommending strategies to enable children and young people to save. The first prize for the primary category was won by Vulamasango Primary School and the Tertiary Category was won by the Ngwane Park Youth Skills Training Centre. Throughout the Week, young people were exposed through various media channels on the importance of starting saving from an early age and the need for the Ministry of Education to integrate social and financial education into the school curricula. In addition, University and college students, teachers and primary school children from 16 schools, along with officers from the Ministry of
Education, all had the opportunity to visit the Central Bank, Financial Services Regulatory Authority, Stock Exchange and Insurance Houses to learn about the role of these institutions in the national economy.
ACHIEVEMENTS • Throughout the GMW 2017, the Micro Finance Unit along with partners the Central Bank and the Ministry of Education reached 82 children and youth through visits to Banks, Non-Bank Financial Institutions and the Stock Exchange, as well as 10,150 young people through various presentations in schools. JUDGES’ THOUGHTS Swaziland was recognized for being able to create extensive exposure for the topic of financial literacy in the country through the increased participation of schools and representatives from financial institutions and government authorities.
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