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2016 Global Inclusion Awards Report 28 November 2016 | The Golden Hall, Stockholm City Hall

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2016 GLOBAL INCLUSION AWARDS REPORT

2016 GLOBAL INCLUSION AWARDS REPORT

28 November 2016 | The Golden Hall, Stockholm City Hall

28 November 2016 | The Golden Hall, Stockholm City Hall

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Hello Everyone, The Global Inclusion Awards recognize and honor those that achieve greatness and demonstrate innovation in financial, social and livelihoods education, financial inclusion and entrepreneurial support for children and youth at the national, regional and international level. We at CYFI are overjoyed to have the opportunity to interact and learn from all the leading practitioners, policymakers, innovators and visionaries that are working around the world to advance economic citizenship for children and youth. The organizations and individuals that you find described in these pages represent some of the most committed and inspiring industry leaders. Their achievements serve as a powerful testimony to the incredible potential of collaboration and innovation in the field of financial inclusion, education and sustainable livelihoods for young people. Every award finalist you find in this book deserves to be honored for their many valuable contributions to building the Child and Youth Finance Movement worldwide. Responses to this year’s call for nominees was outstanding and more than 500 applications were received – we thank everyone who applied! With so many inspiring applications the jury had a difficult decision in choosing the impressive financial inclusion finalists, narrowing down to just 54 contenders across the 6 awards categories. From groups of active youth to financial institutions, government ministers to civil society organizations, CYFI is delighted to welcome representatives from all over the world to celebrate global efforts to economically empower young people. We would like to congratulate all the winners and finalists of the Global Inclusion Awards 2016, and wish them continued success. Special thanks to Finansinspektionenen and Royal Coin Cabinet Stockholm for making this event possible, and to our many partners across the Child and Youth Finance network for their efforts in empowering children and youth worldwide. We invite you to Save the Date for the next Global Money Week Awards taking place on 3 May 2017 in Berlin, Germany. Best wishes, The CYFI Team

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CONTENTS EXECUTIVE SUMMARY.........................................................................................................................................................................................................................8 GLOBAL INCLUSION AWARDS WORKSHOPS..................................................................................................................................................10 GLOBAL INCLUSION AWARDS CEREMONY.......................................................................................................................................................14 ABOUT APPLICATIONS......................................................................................................................................................................................................................16 JURY MEMBERS..........................................................................................................................................................................................................................................17 FINALISTS & WINNERS....................................................................................................................................................................................................................18 AWARD FINALISTS - PROFILES.............................................................................................................................................................................................23 ❶ CHILD & YOUTH FRIENDLY BANKING AWARD......................................................................................................................................25

Belarusbank, Belarus | “Children/Student Card. Smart School Education Program”.................................................................................................26 JC Bank of Georgia, Georgia | “sCool Card Business School”..................................................................................................................................................27 PKO Bank Polski, Poland | “School Savings Bank (SKO in Polish)”.......................................................................................................................................28 Sberbank, Russian Federation | Ladoshki (Palms) Payment Card, Youth Debit Card”.............................................................................................29 nimbl Ltd-ParentPay ltd, United Kingdom | “nimbl - Banking for Young People”.........................................................................................................30 The People’s Own Savings Bank (POSB), Zimbabwe | “Youth Account and Junior Save Account”.............................................................31

❷ CIVIL SOCIETY ACHIEVEMENT AWARD..........................................................................................................................................................33

CARE, Burundi | “POWER Africa”...................................................................................................................................................................................................................34 Canadian Foundation for Economic Education, Canada | “Talk With Our Kids About Money (TWOKAM)”..................................................35 Money Compass Foundation (Pénziránytű Alapítvány), Hungary | “PontVelem (Score-with-Me)”...............................................................36 International Transformation Foundation (ITF), Kenya | “Patriana Educational Centre: Join the Pipe Water Station...................37 Opportunity International (OI), Uganda | “Opportunity Girls Education Challenge”...................................................................................................38 Camfed, Zambia | “Shaping My Future”.....................................................................................................................................................................................................39

❸ CYFI COUNTRY AWARD............................................................................................................................................................................................................40

Americas & The Caribbean Financial Consumer Agency of Canada, Canada | “National Financial Literacy Strategy – Count Me In, Canada”...................................42 Superintendencia de Bancos de Panamá, Panama | “Financial Education Program: Better Decisions Starting Today” (“Programa de Educación Financiera: “Mejores decisiones, desde Hoy”...................................................................................................................43 Central Bank of Paraguay, Paraguay | “La Estrategia Nacional De Inclusión Financiera De Paraguay”....................................................44

Europe & Central Asia Central Bank of Armenia, Armenia | National Strategy for Financial Education, “My Finance Month”.......................................................45 Financial Services and Markets Authority (FSMA), Belgium | “Wikifin.be”...................................................................................................................46 National Bank of the Kyrgyz Republic, Kyrgyzstan | “National Strategy; Global Money Week; National Committee Formation”........47 Africa Ministry of National and Technical Education & Ministry of Finance, Ivory Coast | “Financial Education”..........................................48 Central Bank of Mozambique, Mozambique | “Implementation of Financial Education Programme of Bank of Mozambique” and Nation-wide savings campaign “Dia Mundial Da Poupança 2015”.......................................................................................................................49 Microfinance Unit (Ministry of Finance), Swaziland | “Financial Inclusion Strategy,” “Financial Education for Children and Youth,” and “Financial Education Curriculum for Teacher Training............................................................................................................................................50 Middle East & North Africa Egyptian Banking Institute, Egypt | “Shaping the Future Initiative”.......................................................................................................................................51 Higher Council for Childhood (HCC) – Ministry of Social Affairs, Bank of Lebanon, Lebanon | “National Strategy on the Financial Education”........................................................................................................................................................................................................................................................52 The Moroccan Foundation for Financial Education, Morocco | “National Strategy on Financial Education”........................................53

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Asia & The Pacific Australian Securities and Investments Commission, Australia | “National Financial Literacy Strategy 2014-2017”.........................54 Reserve Bank of Fiji; National Financial Inclusion Taskforce (NFIT) , Fiji | “National Financial Literacy Strategy 2013-2015”..........55 Bank of Mongolia, Mongolia | “National Plan for Financial Literacy”..................................................................................................................................56

❹ CYFI “GLOBAL MONEY WEEK” AWARD.........................................................................................................................................................58

Americas & The Caribbean Ministry of Education, Autorregulador del Mercado de Valores de Colombia – AMV, Asobancaria, Banco de la República, Banca de las Oportunidades, Fundación Plan, Fasecolda, Ministerio de Educación de Colombia | Colombia......................................60 Educación Financiera BBVA Bancomer, Museo Interactivo de Economía (MIDE), Educación Financiera Banamex | Mexico..............................................................................................................................................................................................................................................................61 Superintendencia de Bancos de Panama | Panama........................................................................................................................................................................62 Europe & Central Asia National Bank of the Republic of Belarus | Belarus.........................................................................................................................................................................63 Danish Bankers Association; Danish Association of Mathematical Teachers | Denmark...................................................................................64 Ministry of Finance of Russian Federation | Russian Federation...............................................................................................................................................65 Africa Central Bank of Nigeria (CBN), Banker’s Committee | Nigeria.................................................................................................................................................66 Bank of Zambia, Securities and Exchange Commission, Ministry of Finance, Ministry of General Education, Pensions and Insurance Authority | Zambia............................................................................................................................................................................................................................67 The People’s Own Savings Bank (POSB) | Zimbabwe.....................................................................................................................................................................68 Middle East & North Africa Egyptian Banking Institute | Egypt.................................................................................................................................................................................................................69 Eghtesad Novin Bank | Iran................................................................................................................................................................................................................................70 Fondation Marocaine pour l’Education Financière | Morocco.................................................................................................................................................71 Asia & The Pacific Daffodil International University, Bangladesh Bank, Prime Minister’s Office of the Government of the People’s Republic of Bangladesh | Bangladesh....................................................................................................................................................................................................................................72 Ministry of Education | Brunei Darussalam............................................................................................................................................................................................73 Central Bank of the Philippines | Philippines............................................................................................................................................................................................74

❺ GLOBAL YOUTH ENTREPRENEUR AWARD.................................................................................................................................................77

Tamer Taha, Egypt | “Yomken.com”...............................................................................................................................................................................................................78 Kamal Alhmoud, Jordan | “Aster Company”..........................................................................................................................................................................................79 Charles Immanuel Akhimien, Nigeria |“MOBicure”........................................................................................................................................................................80 Oluwaseun Sangoleye, Nigeria | “Baby Grubz Nigeria”...............................................................................................................................................................81 Seul Ku & John Kye, Uganda | “SPOUTS of Water”..........................................................................................................................................................................82 Juma El-Awaisi, Anwar Almojarkesh, Amr Wanly, UK | “Braci”............................................................................................................................................83

❻ OUTSTANDING YOUTH ECONOMIC CITIZENSHIP AWARD................................................................................................85

Ieva Laila Kalnina (17 years), Latvia | “Euro run”................................................................................................................................................................................86 Victoria Adeola Popoola (16 years), Ganyiyat Adeseun Jubril (15 years), Nigeria | “BizKidz”...........................................................................87 Victoria Akinfolarin (14 years), Victoria Adeola Popoola (16 years), Nigeria | “BizGame”................................................................................88 Victoria Adeola Popoola (16 years), Nigeria | “Waste to Wealth”........................................................................................................................................89 Jose Adolfo Quisocala Condori (11 years), Peru | “Financial Inclusion with Education and Social and Environmental Responsibility”..............................................................................................................................................................................................................................................................90 Bagyema Benjamin (13 years), Uganda | “Basic Financial Literacy for Children”......................................................................................................91

GALLERY......................................................................................................................................................................................................................................93

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EXECUTIVE SUMMARY The Global Inclusion Awards Ceremony celebrates the efforts and successes of government authorities, financial institutions and civil society organisations who have worked to achieve greater financial inclusion and education for young people, as well as innovations in the field of Child and Youth Finance from around the world. This year the event was held on November 28th in Stockholm, Sweden, combining workshops, lectures and the presentation of the Global Inclusion Awards in the glamourous Golden Hall of the Stockholm City Hall. The workshop wessions were made possible through the generous support of the Swedish Financial Supervisory Authority, the Swedish Royal Coin Cabinet and Swedbank. In addition to the workshops and awards ceremony, a two day boost camp on youth entrepreneurship 88

was held for participants from the Ye! Community at the McKinsey offices in Stockholm on Nov. 28th & 29th.

GLOBAL INCLUSION AWARDS WORKSHOPS Interactive workshop sessions were held on November 28th where a diverse range of policy makers, practitioners, researchers and educators came together to discuss the importance of, and explore promising implementation models for the financial inclusion and education of children and youth. These workshops were facilitated by CYFI Secretariat staff with presentations from finalists in the various Global Inclusion Award Categories. The workshop sessions provided the opportunity for finalists to share their initiatives and learn from the experiences of others.

The workshops covered the following themes: 1) National Strategies for financial inclusion and education for children and youth; 2) Global Money Week partnerships and activities; 3) The Swedish Experience with youth financial literacy; 4) Challenges in scaling up programming and reaching unbanked youth; National presentations were given by Armenia, Denmark, Egypt, Fiji, Ivory Coast, Kyrgyzstan, Morocco, Russia and Zambia. Participants were able to engage with the speakers to learn more about their experiences and how they could be applied in their home


countries. Participants were also given the opportunity to brainstorm solutions with the speakers on the challenges that they were facing. The workshop concluded with a presentation on the history of the Central Bank of Sweden and a tour for the participants of the Royal Coin Cabinet.

GLOBAL INCLUSION AWARDS CEREMONY The Awards Ceremony brought together nearly 150 youth and adult delegates from government, civil society, private sector and academia to the Stockholm City Hall to honour the winners and finalists in each of the 2016 Global Inclusion Award Categories. The Awards presented were: The Child & Youth Friendly Banking Award, The Civil Society Achievement Award, The CYFI

Country Award, The CYFI “Global Money Week” Award, The Global Youth Entrepreneurship Award and The Outstanding Youth Economic Citizenship Award. Ms. Lone van Roosendaal, a popular TV and musical actress from the Netherlands, served as the Master of Ceremonies for the event. Mr. Wessel van Kampen, Managing Director of CYFI, welcomed all participants and thanked them for their continued support to the Child and Youth Finance Movement. Ms. Therése Wieselqvist Ekman, Head of Financial Education at the Swedish Financial Supervisory Authority, gave the official opening address, emhasizing the importance of economic citizenship for children and youth throughout the world.

The Ceremony also provided the opportunity for Ms. Jeroo Billimoria, Founder of CYFI, to say her official goodbye through her transition from Managing Director to co-Chair of the CYFI Supervisory Board. Ms. Billimoria thanked the partners in the CYFI network, and the staff at the CYFI Secretariat, for making the Child and Youth Finance Movement and the Global Inclusion Awards happen. After the awards were presented, Ms. Natascha Beinker, Deputy Head of the German Federal Ministry for Economic Cooperation and Development, gave the closing address, announcing that the 2017 Global Inclusion Awards would be held in Berlin alongside Germany’s G20 presidency.

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GLOBAL INCLUSION AWARDS WORKSHOPS The Workshops were organized by CYFI for approximately 100 international participants from government, civil society, the private sector and academia. The workshops were organized to allow Awards finalists to share success stories and achievements from their initiatives and learn from the experiences of the other nfinalists. The Workshops were opened by Mr. Erik Thedéen, Director General of the Swedish Financial Supervisory Authority, who welcomed participants to Stockholm and spoke to the importance of financial consumer protection and financial literacy in the modern era. Ms. Natasha Beinker, Deputy Head of the German Federal Ministry for Economic Cooperation and Development emphasized the importance of financial inclusion and education in the agenda for Germany’s G20 Presidency, stemming from the country’s long tradition of savings banks and financial literacy. Mr. Wessel van Kampen, CYFI Managing Director, then presented the highlights from

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CYFI’s five year strategy that was released at the CYFI International Summit in Romania in June of 2016.

SESSION #1 THE SWEDISH EXPERIENCE The objective of this session was to highlight how Sweden has been able to advance financial education through different age segments of the population. • Ms. Therése Wieselqvist Ekman, Head of Financial Education at the Swedish Financial Supervisory Authority, presented how Sweden’s Financial Consumer Protection Strategy combines elements of education, information and advice. For children and youth in the country, this has taken the form of financial literacy courses integrated into school systems, resources developed for teachers and parents to address money matters with the kids and MoneySmart campaigns to encourage young people to be financially responsible.

• Mr. Arturo Arques, Economist at Swedbank, spoke about how Swedbank has placed a priority on developing the next generation of financially empowered clients who are able to handle the many financial decisions that they will have to make on a daily basis. • Finally, Mr. Niklas Svensson Uppenberg from the Young Finance Association, highlighted the importance of allowing young people to take control of their financial futures along with their experiences with financial education. He demonstrated how a national competition held during Global Money Week this year gathered creative ideas from young people on how Swedish students could be encouraged to save smarter, emphasizing that youth themselves should be involved in the financial education programs intended for their benefit. In 2017, the competition will be scaled at national level and also run during Global Money Week.


SESSION #2 COUNTRY EXPERIENCES: ADVANCING FINANCIAL INCLUSION AND FINANCIAL EDUCATION THROUGH NATIONAL STRATEGIES During this session, the finalists of the country award category, were asked to present their national programs, highlighting the following issues: • How national strategies or programs helped them in prioritizing financial education and inclusion in the country • What were the programs dedicated to children and youth of which they are most proud of • What were the biggest challenges that they see going forward. • Ms. Armenuhi Mkrtchyan, Head of Consumer Protection and Financial Literacy Center of the Central Bank of Armenia, emphasized the reasons for creating and adopting the National Financial Education Strategy in Armenia in 2014. The national strategy helped to streamline and maximize the efficiency and resources spent on various financial education initiatives in the country. Enhancing financial capability of children and youth is one of the main priorities of the Strategy, and integration of financial education in the school curriculum is thus underway in Armenia.

• Ms. Nazik Manapbaeva from the National Bank of the Kyrgyz Republic explained how the Bank responded to the international call to increase financial capability by engaging a number of active stakeholders in the country to better coordinate efforts. This included the training of teachers, the introduction of financial education resources and the launching of an online financial literacy portal. It was pointed out that establishment of the national committee for conducting Global Money Week in 2015 by CYFI and NBKR served as a catalyzer and the main driving force for further work on formalizing the national financial literacy working group and later creating the National Programme for Financial Literacy that was adopted by the Government of Kyrgyz Republic in 2015. • Mr. Chisha Mwanakatwe from the Bank of Zambia, explained how interest from many branches of government led to the creation of the National Strategy for Financial Education in 2012 and the new National Strategy for Financial Inclusion in 2017. With specific priority areas in these strategies for children and youth, the country has already seen demonstrable improvements in youth financial literacy and inclusion rates.

from Morocco, shared how the country was able to achieve many of their financial literacy objectives by first establishing the National Foundation. This helped with awareness raising, coordination of national activities and the development of educational resources and financial services for children and youth. • HE Dr. Deo Saran, Fiji’s Ambassador to Sweden, described how Fiji has been able to provide relevant financial education to students in the country in an accessible, simple and timely manner. He explained how financial education courses have been introduced during English, social studies, math and business classes at the primary and secondary school level. • Finally, Mr. Louise Skjødsholm from the Money and Pension Panel of Denmark showed how the country has embraced a number of technological channels to advance financial education in the country. This has taken the form of a mobile budgeting app, a Facebook page with tips on avoiding debt and a Youtube channel with videos on housing insurance and social services.

• Mr. Youssef Belqasmi, representing the Moroccan Foundation for Financial Education 11


GLOBAL INCLUSION AWARDS WORKSHOPS SESSION #3 GLOBAL MONEY WEEK (GMW) – SHARING INNOVATIONS FROM THE FIELD This session celebrated the achievements of many of the finalists for the Global Money Week Award and examined some of the innovative ways in which they were able to engage young people during GMW2016. • Ms. Anna Valkova from the Ministry of Finance of Russian Federation explained how they were able to drastically increase their GMW outreach this year by establishing a clear dialogue with the Ministry of Education, facilitating collaboration between a wide network of schools and universities across the country. Materials were distributed and contests promoted through a variety of media channels, often involving popular celebrities to help promote the topic. • Mr. Youssef Belqasmi from the

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Ministry of Education in Morocco commented on how his country’s increase in GMW outreach could be attributed to the effective working relationships formed between the Central Bank, Ministry of Education and the Moroccan banking sector. • Mr. Troels Juel from the Danish Bankers Association shared their experience of working with the Danish Math Teachers Association to develop financial literacy resources for schools that also involved guest lectures from banking representatives. He also highlighted their work with the Danish Police during GMW on producing resources to encourage youth to protect their digital identity and to stay connected with their digital mailboxes. • Mr. Felix Yao from the Ministry of National Education of Ivory Coast described how they partnered with local financial institutions to have open and honest conversations with young people in the country about money matters. Their

highlight of GMW was the national poetry contest that was held on the theme of saving and financial responsibility. • Mr. Khaled Bassiouny from the Egyptian Banking Institute shared how they were able to increase their GMW outreach by encouraging banks in the country to further invest in financial literacy activities. This has led to the production of youth oriented cartoons and interactive resources on budgeting, saving and entrepreneurship along with stock exchange simulation games, entrepreneurship competitions and guided visits to banks and money museums.


SESSION #4 INNOVATIONS AND CHALLENGES FROM THE BANKING SECTOR AND CIVIL SOCIETY This session was designed to allow participants to hear from the finalists for the Child and Youth Friendly Banking Award and the Civil Society Achievement Award on both their success stories as well as their implementation challenges. Following the presentations of each of the finalists, the participants were split into four groups to further brainstorm solutions together on the stated challenges. The breakout groups were divided by the following challenge themes: 1) Banking the Generation Z – what tools and approaches can banks use to engage with the young people? (Speakers: Ms. Małgorzata Kocoń from PKO Bank Polski in Poland and Mr. Clint Wilson from Nimbl in the UK). 2) Brining financial services to

youth living in rural areas (Speakers: Ms. Ruth Orbach from Care Canada in Burundi and Ms. Elena Kurtanidze from the Bank of Georgia) 3) Finding the long term business case for investing in youth financial services (Ms. Inna Rusakovich from Belarusbank in Belarus and Mr. Lukas Wellen from Opportunity International in Uganda) 4) Scaling up programs through technology and becoming more sustainable (Ms. Natalia Filippova from Sberbank in Russia, Mr. Miklos Matolcsy from the Money Compass Foundation in Hungary and Mr. Gary Rabbior from the Canadian Foundation for Economic Education)

Central Bank, closed the workshop sessions with a presentation on the history of the central bank and monetary policy in the country.

GUIDED TOURS AT THE ROYAL COIN CABINET Afterwards, before preparing to attend the evening’s Awards Ceremony, participants were treated to a guided tour of the history of currency and finance at the Royal Coin Cabinet.

SESSION #5 HISTORY OF THE WORLD FIRST CENTRAL BANK – CENTRAL BANK OF SWEDEN Ms. Pernilla Meyersson, Deputy Chief of Staff at the Swedish

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GLOBAL INCLUSION AWARDS CEREMONY INTRODUCTION The Global Inclusion Awards 2016, a CYFI initiative, recognize and honor those that achieve greatness and demonstrate innovation in financial, social and livelihoods education, financial inclusion, and entrepreneurial support for children and youth at the national, regional and international level. AWARDS CEREMONY The Awards Ceremony took place on 28 November at the Golden Hall in Stockholm City Hall, Sweden. Over 14

150 representatives from 45 countries gathered to celebrate global efforts to economically empower young people.

GOALS OF THE GLOBAL INCLUSION AWARDS 2016 • Recognize and honor those that achieve greatness and demonstrate innovation in financial inclusion and financial, social and livelihoods education for children and youth at the national, regional and international level. • Develop high public awareness

and understanding of the importance of financial inclusion and financial capability for children and youth. • Encourage national authorities, NGOs and financial institutions to strive for excellence in Economic Citizenship Education programs and thereby promote the advancement of their services. • Acknowledge outstanding young entrepreneurs and economic citizenship activists.


6 AWARDS CATEGORIES Awards were presented in the following categories: 1) Child and Youth Friendly Banking Award 2) Civil Society Achievement Award 3) CYFI Country Award 4) CYFI “Global Money Week” Award 5) Global Youth Entrepreneur Award 6) Outstanding Youth Economic Citizenship Award

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ABOUT APPLICATIONS GENERAL CRITERIA FOR APPLICANTS The Global Inclusion Awards 2016 focus on individuals, youth representatives and government authorities operating at both the national and global level that have excelled in the promotion of EconomicCitizenship for children and youth through a combination of financial access and education. The work for this will be evaluated by the following aspects: • Excellence: Nominees must be of outstanding character and reputation. • Accountability: Nominees must demonstrate good governance and transparent financial management. • Creativity: Nominees must show creative use of resources to deliver

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innovative and flexible programs. • Partnership: Nominees must be able to demonstrate that integral to their activities is the spirit of effective collaboration and partnership. • Sustainability: Nominees must show how their work will continue to impact young people in the long term. • Track record: Nominees’ initiative must be established in the community. • Impact: Nominees must address needs and achieve desired outcomes. • Outreach: Nominees must demonstrate current and future outreach of initiatives. • Cost-effectiveness: Nominees must show how their funds go a long way.

Specific criteria to receive each award are detailed in the award categories.

MORE THAN 500 APPLICATIONS WERE RECEIVED Responses to this year’s call for nominees was outstanding, and more than 500 applications were received – many thanks to everyone who applied! With so many inspiring applications the jury had a difficult decision in choosing the impressive financial inclusion finalists, narrowing down to just 55 contenders across the 6 awards categories.


JURY MEMBERS GLOBAL INCLUSION AWARDS 2016 JURY MEMBERS Through their richly varied backgrounds, our jury members have years of professional experience as practitioners in the areas of finance, child welfare and/ or non-profit development: Chair: Baroness Valerie Howarth is the Chair of Children and Family Court Advisory and Support Service, and the former Chief Executive of ChildLine UK. She has also served in leadership roles in a number of other social initiatives. Prof. Tahira Hira is retired Senior Policy Advisor to the President at Iowa State University and a noted academic. She has conducted research in a wide range of finance-related subjects. Dr. Henrik Naujoks is a Director at Bain & Company and a Young

Global Leader of the World Economic Forum. He currently serves on the Board of Trustees of the Global Exchange for Social Investment. Shaun Mundy is a consultant who specializes in issues of financial capability and regulation. He has worked with CGAP, the OECD, the World Bank, and many other leading international organizations. Lauren Young is the Personal Finance Editor at Thomson Reuters and works closely with both Reuters.com and other Thomson Reuters platforms. Gert Jan van der Hoeven is the Founder and Managing Partner of H2 Equity Partners. Gert Jan is Chairman of the Investment Committee and has 25 years of investing experience. Before H2 Gert Jan has worked with McKinsey & Company.

Tatiana Chopova has 20 years of investment, strategy consultancy and finance experience. Tatiana is currently a Managing Director in AlpInvest Partners’ and she is also pursuing a PhD in social psychology. Previously she worked at McKinsey & Co. (Moscow and Brussels) and Credit Suisse First Boston (London). Tatiana received a BSc from the University of Bristol and an MBA from INSEAD.

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FINALIST & WINNERS

❶ Child & Youth Friendly Banking Award WINNER: Belarusbank, Belarus “Children/Student Card. Smart School Education Program” FINALISTS: JC Bank of Georgia, Georgia “sCool Card Business school” | PKO Bank Polski, Poland “School Savings Bank (SKO in Polish)” | Sberbank, Russian Federation Palms (Ladoshki) Payment Card | nimbl LtdParentPay ltd, United Kingdom “nimbl - Banking for Young People” | The People’s Own Savings Bank (POSB), Zimbabwe “Youth Account and Junior Save Account”

❷ Civil Society Achievement Award WINNER: Opportunity International (OI), Uganda “Opportunity Girls Education Challenge” FINALISTS: CARE, Burundi “POWER Africa” | Canadian Foundation for Economic Education, Canada “Talk With Our Kids About Money (TWOKAM)” | Moneycompass Fundation (Pénziránytű Alapítvány), Hungary “PontVelem (Score-with-Me)” | International Transformation Foundation (ITF), Kenya “Patriana Educational Centre: Join the Pipe Water Station | Camfed, Zambia “Shaping My Future”

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❸ CYFI Country Award Americas & The Caribbean REGIONAL WINNER: Central Bank of Paraguay, Paraguay “La Estrategia Nacional De Inclusión Financiera De Paraguay” | REGIONAL FINALISTS: Financial Consumer Agency of Canada, Canada “Children/Student Card. Smart School Education Program” | Superintendencia de Bancos de Panama, Panama “Financial Education Program: Better Decisions Starting Today” (“Programa de Educación Financiera: “Mejores Decisiones, Desde Hoy” Europe & Central Asia REGIONAL WINNER: Central Bank of Armenia, Armenia National Financial Education Strategy, Curriculum Integration, “My Finance Month” | REGIONAL FINALISTS: Financial Services and Markets Authority (FSMA), Belgium “Wikifin.be” | National Bank of the Kyrgyz Republic, Kyrgyzstan “National Strategy; Global Money Week; National Committee Formation” Africa REGIONAL WINNER: Central Bank of Mozambique, Mozambique “Implementation of Financial Education Programme of Bank of Mozambique” and Nation-wide Savings Campaign “Dia Mundial Da Poupança 2015” | REGIONAL FINALISTS: Ministry of National and Technical Education & Ministry of Finance, Ivory Coast “Financial Education” | Microfinance Unit (Ministry of Finance), Swaziland “Financial Inclusion Strategy,” “Financial Education for Children and Youth,” and “Financial Education Curriculum for Teacher Training” Middle East & North Africa REGIONAL WINNER: Egyptian Banking Institute, Egypt “Shaping the Future Initiative” | REGIONAL FINALISTS: Higher Council for Childhood (HCC) – Ministry of Social Affairs, Bank of Lebanon, Lebanon “National Strategy on the Financial Education” | The Moroccan Foundation for Financial Education, Morocco “National Strategy on Financial Education” Asia & The Pacific REGIONAL WINNERS: Reserve Bank of Fiji; National Financial Inclusion Taskforce (NFIT) , Fiji “National Financial Literacy Strategy 2013-2015” | Bank of Mongolia, Mongolia “National Plan for Financial Literacy”| REGIONAL FINALIST: Australian Securities and Investments Commission, Australia “National Financial Literacy Strategy 2014-2017”

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FINALIST & WINNERS ❹ CYFI “Global Money Week” Awards GLOBAL WINNER: Ministry of Finance of Russian Federation, Russian Federation SPECIAL RECOGNITION: National Bank of the Republic of Belarus, Belarus SPECIAL RECOGNITION: Egyptian Banking Institute, Egypt Americas & The Caribbean REGIONAL FINALISTS: Ministry of Education, Autorregulador del Mercado de Valores de Colombia – AMV, Asobancaria, Banco de la República, Banca de las Oportunidades, Fundación Plan, Fasecolda, Ministerio de Educación de Colombia, Colombia | Educación Financiera BBVA Bancomer, Museo Interactivo de Economía (MIDE), Educación Financiera Banamex, Mexico | Superintendencia de Bancos de Panama, Panama Europe & Central Asia REGIONAL FINALIST: Danish Bankers Association; Danish Association of Mathematical Teachers, Denmark Africa REGIONAL FINALISTS: Central Bank of Nigeria (CBN), Banker’s Committee, Nigeria | Bank of Zambia, Securities and Exchange Commission, Ministry of Finance, Ministry of General Education, Pensions and Insurance Authority, Zambia | The People’s Own Savings Bank (POSB), Zimba Middle East & North Africa REGIONAL FINALISTS: Eghtesad Novin Bank, Iran | Fondation Marocaine pour l’Education Financière, Morocco Asia & The Pacific REGIONAL FINALIST: Daffodil International University, Bangladesh Bank, Prime Minister’s Office of the Government of the People’s Republic of Bangladesh, Bangladesh | Ministry of Education, Brunei Darussalam | Central Bank of the Philippines, Philippines

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❺ Global Youth Entrepreneur Award WINNER: Seul Ku & John Kye, Uganda, “SPOUTS of Water” FINALISTS: Tamer Taha, Egypt “Yomken.com” | Kamal Alhmoud, Jordan “Aster Company” |Charles Immanuel Akhimien, Nigeria “MOBicure” | Oluwaseun Sangoleye, Nigeria “Baby Grubz Nigeria” |”Juma El-Awaisi, Anwar Almojarkesh, Amr Wanly, UK “Braci”

❻ Outstanding Youth Economic Citizenship Award WINNER: Ieva Laila Kalnina (17 years), Latvia “Euro run” FINALISTS: Victoria Adeola Popoola (16 years), Ganyiyat Adeseun Jubril (15 years), Nigeria “BizKidz” | Victoria Akinfolarin (14 years), Victoria Adeola Popoola (16 years), Nigeria “BizGame” | Victoria Adeola Popoola (16 years), Nigeria “Waste to Wealth” | Jose Adolfo Quisocala Condori (11 years), Peru “Financial Inclusion with Education and Social and Environmental Responsibility” | Bagyema Benjamin (13 years), Uganda “Basic Financial Literacy for Children”

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AWARDS FINALISTS - PROFILES

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❶ Child & Youth Friendly Banking Award GLOBAL FINALISTS & THE WINNER THE WINNER: Belarusbank, Belarus “Children/Student Card. Smart School Education Program” JC Bank of Georgia, Georgia “sCool Card Business school” PKO Bank Polski, Poland “School Savings Bank (SKO in Polish)” Sberbank, Russian Federation Palms (Ladoshki) Payment Card nimbl Ltd-ParentPay ltd, United Kingdom “nimbl - Banking for Young People” The People’s Own Savings Bank (POSB), Zimbabwe “Youth Account and Junior Save Account”

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| Child & Youth Friendly Banking Award

Belarusbank Program Name: Children/ student card Smart School Education Program | Country: Belarus Partners: Minsk City Executive Committee, Joint Action Plan on Financial Literacy, Ministry of Education

INTRODUCTION Events conducted by JSC “Belarusbank” are educational in nature and aimed at directly involving children and young people in economic and financial relations, and to promote the active use of banking products and services. The account is under the child’s name and can be managed by the child. There is a guarantee savings scheme. The minimum age to open the account is 6 years. Interest rates apply and account holders get access to a debit card, online and mobile banking. Distribution channels are branches, ATMs, POS and through online, telephone and mobile banking. Complaints can be resolved through phone, the Belarusbank website or through personal at specific branches. AN OUTSTANDING APPROACH The Student Card can be used as an electronic pass to the school, as a library card, a user ID in the computer lab, a travel document in the urban passenger transport in Minsk and as a full-fledged bank card. Student cards are issued as an additional card to the 26

account of one of the parents, which are the main account holders with the Bank. Technology enables parents to transfer money on the Student Card and monitor the child’s expenses. This project is designed for the child’s time in school, learning from the first grade throughout to graduation. The Bank partners on financial literacy programming with the monthly children’s magazine “Vyaselka,” “Dawn” newspaper of the youth and the 1st National TV channel BT-1. They also implemented a joint project with the Association of Belarusian Banks and the newspaper “Komsomolskaya Pravda” on the publication of the book The Monetary ABC Project together with the Ministry of Education of Belarus.

ACHIEVEMENTS • More than 15,000 students are involved in the Student Card Education Program, with an additional 15,000 out of school children reached with the Card. • During the first half of 2016, bank employees were involved in 4,270 promotional events reaching more

than 150,000 people. • From 14 to 20 March 2016, JSC “Belarusbank” strongly supported the celebration Global Money Week. • The Bank’s work in promoting financial literacy is highly appreciated by the National Bank of the Republic of Belarus and the Association of Belarusian Banks.

JUDGES’ THOUGHTS Belarusbank actively promotes the idea of financial literacy through educational activities in all regions of the Republic of Belarus on financial literacy with the participation of pupils, students, young workers, teachers and parents. Along with traditional activities, a regional specialists from JSC “Belarusbank” diversify activities through competitions and theatrical productions. The Bank provides information and methodological support to educational institutions of expertise through elective classes, open lessons, theatrical demonstrations and presentations.


Child & Youth Friendly Banking Award |

JC Bank of Georgia Product Name: sCool Card | Country: Georgia Partners: Ministry of Education and Science of Georgia

INTRODUCTION The savings account can be opened under the name of the child when they turn 6 years of age. The account can be managed by the child and is backed up by a savings guarantee scheme. The account has ATM transactional features, debit card functions and online banking services. The product respects local consumer protection regulations and conditions. The procedures of the sCool Card are agreed on by the National Bank of Georgia. Clients have the ability to use the card to pay for municipal transportation within the city of Tblisi. The card also enables clients to pay for lunch and snacks in school cafés. AN OUTSTANDING APPROACH The sCool card is the first banking card in Georgia specifically designed for children. After the child finishes school, they can transfer their credit

to the Student Card. The project has a long term outlook with the goal to give all children and youth in Georgia financial access and education to build financial capability. Every year, there are about 50,000 first-graders in Georgia who become eligible for the sCool card and financial education, ensuring that the project has a long term investment.

ACHIEVEMENTS • From 2010-2015, Bank of Georgia provided about 25,000 Junior Cards/ sCool cards, with another 10,000 so far in September 2016. • The financial education project is on track to reach of 130,000 school children in Georgia by the end of 2016.

and accessibility for children and youth. It provides control to children and youth over their account and a positive financial incentive for children and youth to save their money. It employs child and youth friendly communication strategies and includes elements of Economic Citizenship Education (i.e. financial and social education). The conditions of the sCool Card are agreed with the Ministry of Education and Science of Georgia and the educational component of the product corresponds to and fits with the Ministry’s long term educational strategy for school children in the country.

JUDGES’ THOUGHTS The card satisfies a number of the Child and Youth Friendly Banking Principles, including the availability

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| Child & Youth Friendly Banking Award

PKO Bank Polski Product Name: School Savings Bank (SKO in Polish) | Country: Poland Partners: Local schools, the Ministry of National Education

INTRODUCTION The SKO Program run by PKO Bank Polski is the largest School Savings initiative in Poland. Aimed at primary school students 5-13 years old, SKO allows children to open a savings account with parental oversight. The savings product is connected to many educational resources and online platforms to enhance learning and build better financial behaviors. AN OUTSTANDING APPROACH Every primary school in Poland – public and non-public – may join the SKO Educational Program run by PKO Bank Polski. The only requirement is to sign an agreement between the school and the Bank. After that, the students can join to the SKO and open their SKO accounts. The employees at the Bank branches have been trained to interact with children. They have access to unique training materials, both with financial lessons and in scenarios of school visits to the Bank. The branch employees are supported by the back office units in regional branches of the Bank and also by the special unit located in the PKO Bank Polski headquarters - the Young Clients’ Bureau. Mandatory for banks in Poland, PKO Bank Polski has to follow consumer protection rules with 28

regard to consumer credit and the distance marketing of consumer financial services. There are several communication channels used to deliver educational content. One of them is a blogging platform SzkolneBlogi.pl, where schools have an opportunity to promote their activities in the SKO Program on the Internet. The platform is a place where more than 660 schools share with other bloggers their experience related to the SKO Program and its main ideas like finance, saving money, ecology etc. For example, they show internet users how to organize a financial knowledge competition, or how to organize successful crowd funding campaigns among the members of local communities.

ACHIEVEMENTS • Today, more than 4,600 primary schools in Poland take part in the educational program (more than 33% of primary schools in the country) – SKO run by PKO Bank Polski – the biggest educational initiative in Poland with the longest tradition (more than 33% of primary schools in the country). • Almost 160,000 of children in Poland,

aged 5-13, save their deposits on the SKO account for students and around 1 million primary school children benefit from the educational aspects of the SKO, while participating in the lessons of economy and entrepreneurship delivered by the Bank. • Awarded by financial experts from CFA Society Poland for economic education of the youngsters. • Awarded as “Educational Initiative of the Year” by the Ministry of National Education and “The Teacher’s Voice”.

JUDGES’ THOUGHTS The PKO Bank Polski set up a SKO channel on YouTube to make SKO online banking tutorials available to the public. Also Bank’s own website is used for educational purposes. There are published all materials designed to provide financial education at schools and among children. Every internet user has free and unlimited access to electronic versions of all materials. In addition, the printed copies are delivered by the Bank to the schools participating in the SKO.


Child & Youth Friendly Banking Award |

Sberbank Product Name: (Palms) Payment Card, Youth Debit Card | Country: Russian Federation

INTRODUCTION Sberbank has given thousands of children an easy, secure and reliable way to manage their money by introducing a more efficient and secure method for handling canteen transactions in the school environment. In addition, Sberbank makes a great contribution to the development of youth financial literacy. With such tangible success, the bank is keen to explore other areas where the ID solution might be used and continue encouraging young people to use debit cards in everyday life. AN OUTSTANDING APPROACH The strategy of Sberbank’s program is to engage with young customers by offering them the most convenient solution for everyday spending. They pursue the service of biometric payments in school cafeterias. The idea is to cover all kinds of schools even in rural areas. Schools make the decision about launching this service in which the children are users. This is also why the bank’s communication is focused on quality education. They teach children how to use this service and conduct lessons about banking products as a part of the school’s financial literacy program. They follow

federal law about protection of personal data: all palm vein patterns are securely encrypted and transformed into the code. The bank respects the law of customer protection. Parents can always choose whether to use the service or not. If they do not want to pay by the palm they can pay either by card or cash. Sberbank wants children and youth to be customers for a long period of time and offers a debit card from 14 years when it becomes legal to open an account. Customers can apply to get a card in the bank, via the website or at special events where they build a special corner to sell cards.

because the child doesn’t have to touch the scanner. This technology is also more secure because the probability of a mistake in identification is a 100 times smaller. Another advantage is that parents are informed of what their child has eaten at school by sms and they don’t have to worry about children carrying pocket money since the service is attached to the debit card.

ACHIEVEMENTS • 22,000 children have been reached by the Palms card at the moment. • Sperbank currently offers 4,300,000 Youth Debit Accounts. • Advertising campaign reaches 13 million young people. JUDGES’ THOUGHTS The Sberbank’s program gives children the first idea of a cashless world with this project. Moreover, the bank scans the client’s palms, making identification using vein patterns. This makes the service more hygienic 29


| Child & Youth Friendly Banking Award

Nimbl Ltd-ParentPay ltd Product Name: Nimbl Ltd-ParentPay ltd | Country: United Kingdom Partners: Department of Education, UK Stakeholders in Financial Education, MasterCard

INTRODUCTION ParentPay Ltd is the leading online payment service for schools and families in the UK, providing online payments, income management and lunch money administration for schools, local authorities and caterers. It allows parents to pay quickly and securely for school meals, trips and activities, uniforms, music lessons and fees. Being at the cross section of payments between schools, parents and children, ParentPay has designed and developed a unique financial solution covering the spending and saving needs of children and young people aged 8 to 18 years old. Nimbl aspires to provide young people with the financial confidence they will need to grow into confident

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and responsible adults. Rather than offering Nimbl just as a program, ParentPay created a fully operating company (Nimbl Ltd) which has a sole objective to deliver the Nimbl product and the corresponding financial education content to all 6,000 collaborating schools

AN OUTSTANDING APPROACH Young People can receive ad-hoc money from their parents and guardians as well as pocket money and allowances in an electronic payment product. The Nimbl Card is accepted in stores and online in over 32 million locations worldwide wherever MasterCard is accepted. At the same time, it can be used for ATM withdrawals. The card is prohibited to

be used in specific merchant categories according to MasterCard’s classification system such as pubs, off-licences, online casinos and online adult content websites.

ACHIEVEMENTS • ParentPay provides its services to more than 2 million parents and 3 million children across 6,000 schools in 200 local authorities in England, Wales and Scotland. • The electronic payment form of Nimbl helps not only to eliminate cash usage among young people with the accompanying safety considerations, but also gives them ability to participate equally in an increasingly digital world. JUDGES’ THOUGHTS Nimbl has been at the core of online school payments, providing today’s young people with the tools they need to learn the value of money in its digital form and develop the financial confidence to achieve success in adulthood. The Nimbl web and mobile app caters for the inherent parentchild relationship. Provided with separate log-ins, parents are provided with a safe and secure environment in which they can empower their children, and take advantage of a forum for family discussion that will spark lifelong learning. Likewise, children have access to tools to help them learn how to spend, save and budget wisely, learning the value of money and how to manage it responsibly. Young people can communicate with Nimbl through the mobile and web application, Nimbl’s marketing website, e-mail and Nimbl’s call center.


Child & Youth Friendly Banking Award |

The People’s Own Savings Bank (POSB) Product Name: Youth Account and Junior Save Account | Country: Zimbabwe Partners: JA Zimbabwe, Technoserve, Ministry of Youth, Ministry of Education

INTRODUCTION The People’s Own Savings Bank is an institution reputed for good governance and transparency. Through the Youth Account and the Junior Save Account, children learn that banking is a way of life and that they can become clients of the Bank at a young age. The product is part of a long term plan by the bank in that it harnesses the young and keep them as satisfied clients for their lifetime. The Bank has integrated the community in its activities through partnerships with organizations like Junior Achievement Zimbabwe and Technoserve that teach entrepreneurship amongst youth. POSB has partnered with the Ministry of Youth and the Ministry of Education to introduce its products to young clients through government structures. Through career guidance and financial literacy, the bank assures itself of sustainability as the youngsters that are introduced to banking at a young age are almost guaranteed to carry on with responsible financial lifestyles in their adult life. AN OUTSTANDING APPROACH This product is designed to encourage

a culture of saving amongst youth and as such does not attract monthly service charges. It comes with a free debit card that the youth operates independently. It is easy to open an account because the requirements are flexible, presenting an opportunity for young customers to start banking early and be financially included. Business conditions are explained/ disclosed and are provided at the time of opening an account. In case of complaints, POSB offers the availability of a Customer Service Officer at every branch, ensuring customers that their complaints are dealt with by a human being instead of a machine. Through the Youth Account, POSB provides career guidance for the youth to appreciate and comprehend the transition from school to work environment. They also learn about the importance of savings, how they can open accounts and start experiencing banking. The Bank promote the Youth Account through various media channels including radio adverts, road shows, online platforms and social media (Facebook/Twitter).

ACHIEVEMENTS • Up to now, 20,000 Youth Accounts have been opened at POSB • POSB participated in the Junior Parliament Official Opening with the Zimbabwe Youth Council. They conducted financial literacy trainings, gave out branded t-shirts and caps and opened accounts for the youth. • POSB hosted a luncheon for girl leaders from high schools and tertiary colleges to increase banking awareness for girls during 2016 Global Money Week JUDGES’ THOUGHTS POSB has made the Youth Account very accessible to children and youth, maximizing their control over their accounts and providing multiple channels for young people to interact with qualified bank staff. POSB is active in the community and has made a number of strategic partnerships with government and civil society, allowing them to provide quality educational programming and product information relevant to young people in a language that they can easily understand.

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❷ Civil Society Achievement Award GLOBAL FINALISTS CARE, Burundi “POWER Africa” Canadian Foundation for Economic Education, Canada “Talk With Our Kids About Money (TWOKAM)” Moneycompass Fundation (Pénziránytű Alapítvány), Hungary “PontVelem (Score-with-Me)” International Transformation Foundation (ITF), Kenya “Patriana Educational Centre: Join the Pipe Water Station” THE WINNER: Opportunity International (OI), Uganda “Opportunity Girls Education Challenge” Camfed, Zambia “Shaping My Future”

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| Civil Society Achievement Award

CARE Canada Program Name: POWER Africa | Country: Burundi Partners: Government offices and banks, Abatangamucho program

INTRODUCTION POWER Africa combines a financial inclusion program through savings mobilization for adolescent girls with gender equality training for all members of the community to empower girls and young women in Burundi. The objective of this program is the engagement of girls in economic activities and facilitating greater formal financial linkages. The project works to identify and engage key stakeholders within the girls’ communities, most notably parents, teachers, men and boys. Through training, girls build the skills and knowledge to save, use credit and start managing their own micro and small businesses. This improves girls’ financial autonomy and inclusion, as well as their livelihoods through access to savings and credit, education and economic opportunities.

demand for formal savings. VSLA groups are eventually linked to formal financial institutions, with formal savings as the ultimate goal of the program. This is driven by girls’ demand for secure, formalized savings as their business and their incomes increase. Because of their entrenched gender inequalities at the household level, girls’ earnings and assets are vulnerable to seizure and misuse. The lack of confidence in the security is the primary motivation for formal savings. To respond to the needs of adolescent girls, the POWER team has extensively adapted the VSLA methodology and approach centering on social action analysis and engaging the holistic social and economic ecosystem surrounding girls. This involves reworking VSLA training modules, sensitizing community members, and scheduling trainings and meetings outside of school hours.

AN OUTSTANDING APPROACH The POWER Africa program is unique in its flexibility and response to clients’ needs and situations. Adolescent girls are highly motivated and quickly absorb and apply training to their livelihood activities. Through the Village Savings and Loan Association (VSLA) methodology, POWER Africa prepares and creates

ACHIEVEMENTS • The results have been clear: girls form profitable businesses, save, and contract growing loan amounts faster and more sustainably than adult VSLA members. As the business profitability increases, girls re-invest their money back into their businesses, diversifying and expanding their activities.

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• The project has reached 87,985 children and youth. 99% of the children and youth reached were female, and 100% of them are living in poverty. • Data shows that members are able to consistently save increasing amounts each week through VSLAs. Girls are able to save an average of $6 per week, a significant increase in their capacity to support themselves and their families, as well as to invest their futures. • Girls have grown in confidence and, with the support of their families and communities, are engaging in diverse and expanding businesses.

JUDGES’ THOUGHTS The project is pioneering youth savings mobilization through enterprise development and linkages to financial institutions by preparing and creating demand for formal savings. It advocates for strategies in which girls are included in national financial strategies. Although its main focus is on empowering adolescent girls, POWER Africa includes men and boys because they are essential for achieving gender equality. This way POWER Africa combines financial inclusion programming with gender equality awareness, which involves the entire community.


Civil Society Achievement Award |

Canadian Foundation for Economic Education (CFEE) Program Name: Talk With Our Kids About Money (TWOKAM) | Country: Canada Partners: Teachers, parents, caregivers, financial institutions

INTRODUCTION CFEE’s TWOKAM program uses a series of teacher led, curriculum aligned lesson plans, combined with home-based activities designed for parents/guardians that focus on developing skills, knowledge and application of financial concepts in real world and age appropriate situations. The TWOKAM program has been developed based on the premise that advancing financial literacy and associated competencies require a multifaceted approach. By using 3 elements, the School Program, the Home Program and various activities on “TWOKAM Day” the project can ensure a broad reach of a financial empowerment program that is inclusive and experiential. AN OUTSTANDING APPROACH This combination of in school and at home resources encourages parents, educators and other caregivers to work together throughout the year to engage young people in these concepts and develop financial competencies. Furthermore, through the home program, parents and caregivers are able to reinforce financial and wellness concepts outside of the school environment, thus broadening the reach of the program to youth aged 6-18 years old.

The concept of saving is explored through lesson plans delivered by teachers, or activity plans delivered by parents. Lastly, the program provides the resources for a variety of stakeholders to have these discussions throughout the year, creating a more conducive environment to have practical and intergenerational discussions about money.

plans and activity plans link to other resources developed by other relevant organizations in the field. This linkage enables all of the participants to build upon the content in their ongoing delivery of related concepts.

ACHIEVEMENTS • The project has reached 60,000 children and youth. • The program has been developed and linked to curriculum in all 13 provinces in Canada, as well as Illinois and Wisconsin in the United States. • Participants of the project (students and parents) rated their experience with TWOKAM positively with an average rating of 80-85%. JUDGES’ THOUGHTS TWOKAM provides an opportunity for teachers or parents to use practical resources to provide meaningful money discussions with youth. The resources and the layout of the lesson plans for teachers and activities for parents and caregivers are designed to develop confidence and competence in both facilitator and learner. In addition, all of the lesson 35


| Civil Society Achievement Award

Money Compass Foundation (Pénziránytű Alapítvány) Program Name: PontVelem (Score-with- Me) | Country: Hungary Partners: Energizer, Varta, Samsung, Tesco, local NGOs

INTRODUCTION In the program students collect used batteries and mobile phones from their home or their community and bring them to their school. They get a coupon for them from their teacher, which is worth “scores.” They can also take collected aluminum cans to the supermarkets and exchange them for scores. Their scores accrue on their own PontSzámla (Score Account) and they can exchange them for gifts or experiences in the PontBolt (Score Shop), or they may offer them for charitable purposes. AN OUTSTANDING APPROACH Through a work based social model in a playful environment, the program teaches the pupils that they shouldn’t spend their income (scores) immediately, which they have earned through selective waste collection or other intellectual tasks. They learn, instead, that they are worth saving or 36

offering them in a more charitable manner. In this regard, the children collect waste selectively, protect the environment, manage their finances and help people in need. The program is unique because it involves an active learning methodology. The children taking part in the program not only read, hear and speak about the special goals of the program but, by inserting them into their everyday life, experience the achievement of the goals in an active manner. Above all, the program teaches the value of exchange, deposits, interest, donations and saving for a particular goal, all without actually exchanging any hard currency. The program relies entirely on credits (“scores”) that come from turning in recycled products or performing chores within the school. ACHIEVEMENTS • The project has reached 33,354

children and youth, of which 51,4% were female.

JUDGES’ THOUGHTS The organization puts together three important elements: sustainability, financial awareness, and creative sensitivity, in a playful environment but with real life applications. This way the PontVelem program combines the exercising of environmentconscious behavior patterns and the development and deepening of financial consciousness and provides the opportunity for pupils to experience helping people in need in an active and playful form.


Civil Society Achievement Award |

International Transformation Foundation (ITF) Program Name: Patriana Educational Centre: Join the Pipe Water Station | Country: Kenya Partners: Join the Pipe Foundation, school administration business, because the children will be responsible for the sale and distribution of water. The project provides practical work experience and teaches children about teamwork, commitment, leadership and responsibility. A water kiosk at school combines a “Learning by Doing” approach, sustainable rural livelihoods policies and an education that pays for itself. After paying off the costs to ITF, 100% of the revenue made is possessed by the school, whom will invest this money either in maintaining infrastructure, building additional drinking water, sanitation and hygiene (WASH) structures or in any other kind of activity that benefits the children and the school.

ACHIEVEMENTS • The project has directly reached 4,338 children and youth and indirectly reached 70,587 people in the communities. • Schools have to be able to repay the money to International Transformation Foundation within 2 years on average.

INTRODUCTION The Join the Pipe Water Station at Patriana Educational Centre is an educational and profitable business, teaching students business and entrepreneurial skills and generating much-needed income for the school. The water kiosk at school was created with the belief that enterprise, while directly solving economic challenges in the community, is key to tackling youth unemployment. The project is fashioned to provide a financially sustainable education while contributing to the rapid development of the community.

JUDGES’ THOUGHTS The ‘Patriana Educational Centre: Join the Pipe Water Station’ project has an innovative approach to the combination of school enterprise and financial literacy. Not only is there an emphasis on sustainability within the project, but they also incorporate a learning by doing approach to achieve efficiency and effectively deal with the problem of rural poverty. Learning these practical skills with an income generating activity for students results in considerable outreach to young people and others in the community.

AN OUTSTANDING APPROACH Seen from an educational perspective, the water kiosk increases school attendance as children no longer need to take themselves out of school to secure water for their families. Additionally, it allows the school children to familiarize themselves with 37


| Civil Society Achievement Award

Opportunity International (OI) Program Name: Opportunity Girls Education Challenge | Country: Uganda Partners: Opportunity International United Kingdom, Opportunity Bank of Uganda Ltd (OBUL), Private Education Development Network (PEDN), Friends Consult Limited

INTRODUCTION Opportunity International’s Education Challenge is a holistic program designed to be directly responsive to the major issues preventing the scale-up of accessible, affordable, relevant and high-quality formal education in Uganda with a focus on overcoming economic barriers to education. The program works directly with girls in affordable private schools (APS). APS play an important role in expanding the access to and quality of education in Uganda where the government is unable to meet the demand of a given community. AN OUTSTANDING APPROACH Opportunity International has introduced a child savings account as a part of the Education Challenge. This is an account in the child’s name, which is supervised by a parent/ guardian. Children are introduced to this account through school based life skills training which includes modules on goal setting and financial education. This is complemented by exposure visits to local banks and in-school savings programs using savings boxes. All girls involved in clubs are trained and supported in 38

establishing savings boxes and ledger cards to manage an in-school savings program. Once girls reach UGX 2,000 (€0.50) they are supported to open a Bank account and start savings formally with OBUL.

ACHIEVEMENTS • 93,337 young people have been reached by this program since May 2014, of which 56% are female and 84% are from households classified as “economically active poor” • 138% of the program’s literacy target was achieved as well as 70,9% of its numeracy target. • School Improvement Loans beneficiaries showed 61% greater literacy improvements compared to non-financed schools. JUDGES’ THOUGHTS The Girls’ Education Challenge project is innovative in that it’s pushing the boundaries of education finance in Uganda, demonstrating how a sustainable, market-driven approach can meet the particular educational needs of marginalized girls. The increased portfolio scale achieved through the project has supported product-level sustainability, which will

carry on well beyond the life of the project. The project helps to improve the financial capability and economic empowerment of young girls in Uganda. A positive side effect of this project is that teachers are also encouraged to save through the training sessions, in which they witness the success of Girls’ Club savings and parental savings.


Civil Society Achievement Award |

Camfed Program Name: Shaping My Future | Country: Zambia Partners: British Council, UK Department of International Development, Dubai Cares, The Education Development Centre, Irish Aid, Fossil Foundation, Zambian Government, Zambia Federation of Associations of Women in Business

INTRODUCTION Camfed’s Shaping My Future program invests in a network of rural women entrepreneurs in Zambia, transforming vulnerability into opportunity and business leadership in partnership with Genesis Charitable Trust. The aim of the program is to provide safer and more productive career paths for 3,500 young women including tertiary study, employment and the establishment of 2,800 new women-owned businesses within five years (2012-2017). AN OUTSTANDING APPROACH Young women are comprehensively equipped with financial and social training before being given a grant to establish their own business. In addition to becoming beneficiaries of financial literacy and training, the young women support the development of their communities by facilitating financial literacy trainings themselves, cumulatively reaching an additional 14,000 people. Camfed programs are managed by a Community Development Committee (CDC) made up of local stakeholders, including district level representatives of government ministries, civil society

groups and traditional authorities. Teachers are involved in the selection process for participants and by supporting girls and young women during the program.

ACHIEVEMENTS • The program has reached 17,500 girls and young women through the financial literacy trainings. • Shaping My Future directly supported 2,777 young women, with 85% of participants considering themselves leaders in the community and 93% considering themselves as role models following the training. The impact extends beyond the individual young women to their communities with 95% of participants engaged in community support activities. • Project participants have reported higher household spending on health and education, increased levels of saving, increased agency in terms of household decision making, increased job creation and increased philanthropy. • Women on the program are saving in practice. Prior to participation, very few women (5%) had any money saved. There was a very marked increase in the proportion of women

able to put aside some money each month, with 64% of those running businesses saving a regular cash reserve. • There was increased interest in all listed forms of civic engagement, but particularly in making presentations on business skills and HIV/ AIDS during Camfed Alumnea Association (CAMA) meetings and trainings (from 17% to 83% after the training) and making contributions to support vulnerable children in rural schools (increasing from 15% to 71%).

JUDGES’ THOUGHTS The combination of educational support, new business literacy and implementation led by CAMA members themselves provides a foundation for change at the individual, community and systemic levels. The young women who become successful, self-supporting entrepreneurs act as role models for all young people in the community particularly girls. They share the benefits of the opportunity they have received by volunteering their time as trainers and mentors for other young people. 39


❸ CYFI Country Award REGIONAL FINALISTS & THE WINNERS Americas & Financial Consumer Agency of Canada, Canada The Caribbean “Children/Student Card. Smart School Education Program” Superintendencia de Bancos de Panama, Panama “Financial Education Program: Better Decisions Starting Today” (“Programa de Educación Financiera: “Mejores Decisiones, Desde Hoy” REGIONAL WINNER: Central Bank of Paraguay, Paraguay “La Estrategia Nacional De Inclusión Financiera De Paraguay”

Europe & REGIONAL WINNER: Central Bank of Armenia, Armenia Central Asia National Financial Education Strategy, Curriculum Integration, “My Finance Month” Financial Services and Markets Authority (FSMA), Belgium “Wikifin.be” National Bank of the Kyrgyz Republic, Kyrgyzstan “National Strategy; Global Money Week; National Committee Formation”

Africa Ministry of National and Technical Education & Ministry of Finance, Ivory Coast “Financial Education” REGIONAL WINNER: Central Bank of Mozambique, Mozambique “Implementation of Financial Education Programme of Bank of Mozambique” and Nation-wide Savings Campaign “Dia Mundial Da Poupança 2015” Microfinance Unit (Ministry of Finance), Swaziland “Financial Inclusion Strategy,” “Financial Education for Children and Youth,” and “Financial Education Curriculum for Teacher Training”

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Middle East & REGIONAL WINNER: Egyptian Banking Institute, Egypt North Africa “Shaping the Future Initiative” Higher Council for Childhood (HCC) – Ministry of Social Affairs, Bank of Lebanon, Lebanon “National Strategy on the Financial Education” The Moroccan Foundation for Financial Education, Morocco “National Strategy on Financial Education”

Asia & Australian Securities and Investments Commission, Australia The Pacific “National Financial Literacy Strategy 2014-2017” REGIONAL WINNER: Reserve Bank of Fiji; National Financial Inclusion Taskforce (NFIT) , Fiji “National Financial Literacy Strategy 2013-2015” REGIONAL WINNER: Bank of Mongolia, Mongolia “National Plan for Financial Literacy”

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| CYFI Country Award

Canada | Americas & The Caribbean Lead organization: Financial Consumer Agency of Canada Program Name: National Financial Literacy Strategy – Count Me In, Canada Partners: National Steering Committee on Financial Literacy: Autorité des Marchés Financiers (AMF), Canadian Life & Health Insurance Associates, Credit Canada Debt Solutions, Canadian Bankers Association, Canadian Association of Student Financial Aid Administrators, Ontario Securities Commission, CTV, Movement Desjardins, Aboriginal Financial Officers Association of Canada, Financial Planning Standards Council, Prosper Canada, Financial and Consumer Services Commission of New Brunswick, Canadian Foundation for Economic Education, Chartered Professional Accountants of Canada

INTRODUCTION Throughout 2014, the Financial Literacy Leader met with stakeholders and held consultations across the country to ensure the development of a national strategy that meets the needs of all Canadians. The National Strategy for Financial Literacy – Count me in, Canada, implemented in 2015, will mobilize and engage public, private, and non-profit sectors to strengthen the financial literacy of Canadians and empower them to achieve the following goals: 1) manage money and debt wisely 2) plan and save for the future 3) prevent and protect against fraud and financial abuse. Three priorities have been named to achieve concrete actions and effectively implement the strategy to achieve its goals: 1) collaborating and sharing 2) tailoring programs and applying plain language principles and 3) reaching and engaging Canadians. AN OUTSTANDING APPROACH Specific Educational Programs for Youth have been developed through the National Strategy: The CITY and Make it Count. The CITY is a free, powerful teacher resource developed by FCAC to help young Canadians improve their

knowledge of today’s financial universe. The resource is ready to use with lesson plans, overheads, income, expense and budget handouts, and a variety of worksheets. Make it Count: A resource for youth money management, is an interactive mentoring program which provides parents and instructors with activities and information to help them incorporate discussions about finances and money management into their daily routine; easily turning everyday situations into educational opportunities. Developed by the Manitoba Securities Commission, the program includes a parent’s guide and an instructor’s guide. Furthermore, Canada has several creative ways to reach children and youth. For example, young people can follow and join the conversation on social media to help spread the word about the national strategy: Twitter (#CountMeInCA), Facebook, YouTube and LinkedIn. A financial literacy self-assessment quiz has also been developed which is designed to test financial skills and knowledge.By using this quiz, young people can see how their results compared to other Canadians, based on their responses to the Canadian Financial Capability Survey. Young Canadians can also consult the Canadian Financial Literacy Database, a one-stop shop to find information on financial topics, resources, events and tools offered by various organizations across Canada. The resources and events include publications, interactive tools, webinars and workshops on a wide range of financial topics.

ACHIEVEMENTS • Developed and fielded the Canadian Financial Capability Survey in 2009 42

and 2014 (conducted in five year increments.) • Declared November Financial Literacy Month, with a growing number of events and initiatives each year. • Canadian organizations have also participated in Global Money Week since 2013, most recently by holding an event at the Toronto Stock Exchange during GMW 2016. • Held four national financial literacy conferences engaging in conversations about strengthening financial literacy through collaboration. • Proposed a new financial consumer protection framework for banks. • Introduced a financial workshop to help young adults learn about budgeting, saving, credit, investing, fraud prevention and financial planning.

JUDGES’ THOUGHTS Canada is recognized for the innovative approach it is taking to financially educate its youth population in ways that are most relevant to the ways of life of today’s young people. Further, in addition to the many members of the National Steering Committee, an interdepartmental committee on financial literacy has been established including: Bank of Canada, Canada Deposit Insurance Corporation, Canada Revenue Agency, Department of Finance Canada, Global Affairs Canada, Immigration, Refugees and Citizenship Canada, Indigenous and Northern Affairs Canada and Statistics Canada. The vast scope of actions and actors involved provides a strong testimony to the importance Canada places on the financial literacy of youth in the country.


CYFI Country Award |

Panama | Americas & The Caribbean Lead organization: Superintendencia de Bancos de Panamá Program Name: Programa de Educación Financiera: “Mejores Decisiones, Desde Hoy” (Financial Education Program: Better Decisions Starting Today)

INTRODUCTION While a financial education strategy is not yet officially in place in Panamá, a Financial Education Program focusing on children and youth has been initiated, which is promoted by several financial institutions in the country. AN OUTSTANDING APPROACH Despite not having a formal Financial Education Strategy in place, the country aims to achieve at least a 10% annual increase in the number of participants in the financial education program, including new groups of children and youth in school age and economically active adults. This program is a strong starting point as there are several initiatives by banks promoting financial education programs and the main objective is that future involvement from stakeholders will be promoted as a national strategy. Three key elements to the progress of financial education and inclusion for children and youth in Panamá include: • The Superintendencia de Bancos de Panamá strategic plan 2015-2019 objective is to develop a financial education program for children and adolescents and strengthen the program already carried out with adults.

• The goal is to sensitize the general public on the proper handling and control of finances, through activities such as videos, games, workshops and lectures to groups of participants. • Not carried as a national strategy but rather as an initiative of the regulatory and supervisor of banks to serve as a model example to meet as a strategy for social plan and other interested parties go spreading of these activities to pay to society in general.

ACHIEVEMENTS • Informative activities for Children and youth such as dramatizations, pictures, savings stories, games and more. • Workshops conducted in public and private schools teaching children and adolescents about the importance of saving and healthy money management and personal finance. • Participation in the International Book Fair stand, held every year for children and youth across the country providing financial education. • In 2014, a Financial Education tour was made throughout several cities in Panamá including Colón, Coclé, Herrera, Los Santos, Veraguas and Chiriquí, where 19 workshops took place with 618 participants. In 2015, the tour extended to Colón, Coclé, Herrera, Los Santos, Veraguas,

Chiriquí Bocas del Toro, Panamá Oeste, Comarca Guna Yala and Comarca Embera Wonan, where 29 workshops took place with 1,768 participants from all social levels (universities, colleges, businesses, government entities, cooperatives, foundations, indigenous groups and independent sectors), increasing the amount of participants over the years.

JUDGES’ THOUGHTS Panamá is recognized for the progress it has made in creating a platform to further the financial education efforts in the country. While an official strategy has not yet been implemented, the platform has created a solid foundation to strengthen efforts to financially education children and youth. Furthermore, Panamá is noted for the innovative approaches in the ways child and youth are involved: each year, new activities, such as a savings video, coloring material, children’s playground etc. are updated in the Superintendencia de Bancos de Panamá website: www.superbancos. gob.pa/zonainfantil/.

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Paraguay | Americas & The Caribbean Lead organization: Central Bank of Paraguay Program Name: The National Financial Inclusion Strategy (ENIF) Partners: The National Financial Inclusion Committee is composed of the Ministry of Finance, Central Bank of Paraguay, the National Institute of Cooperatives and the Ministry of Planning, in addition to 50 organizations in the banking, financial, cooperative sector, foundations, corporations mean of payment, regulators and institutions involved in the government sector working groups.

INTRODUCTION Financial education is fundamental to all Paraguayans and compulsory for any process of inclusion. Paraguay has made great progress in relation to the implementation of the Financial Education and Economic in secondary school curriculum through the National Financial Inclusion Strategy. AN OUTSTANDING APPROACH The structure of the National Financial Inclusion Strategy consists of interagency working groups focusing on seven themes prioritized within the Strategy. The seven themes highlighted to contribute to the implementation of the strategy include: • Financial education: the main objective is to increase the percentage of young people and adults who report having received some training, advice or support to manage their personal finances and money management from 10% to 20%. • Credits: the main objective is to increase responsible MSME credit of 30% to 40% responsible borrowing and increase in formal financial institutions from 23% to 28% of adults. • Savings: the main objective is to increase the ownership of savings accounts from 29% to 50% of the adult population and the use of 14% to 30% of the population saves on a formal institution. • Insurance: the main objective is to increase insurance coverage from 44

26% to 36% of adults, for which the group has carried out the following actions • Payments: the main objective is to reduce the use of cash and checks from 76% to 20% of the total salaries and wages made in the country by the year 2018. • Consumer Protection: ensuring that institutions that provide regulated and unregulated financial services have mechanisms to address complaints and inquiries in relation to publishing information and, in doing so, ensure that institutions take into account the realities of different income groups, including the financially vulnerable segments. • Vulnerable populations: the main objective is to extend financial services via channels cost-effective channels to the 69 most populated districts and financially excluded within the country, with an emphasis on the 17 vulnerable priority districts that form part of the government plan to eliminate poverty. The working groups include the representative of approximately 50 public and private organizations within the country.

ACHIEVEMENTS • Thus far, 190,000 teachers have been trained through the various institutions involved in the strategy. • Socio-economic support is inserted to the compulsorily curricula for Bachelor of Social Sciences for

Economic and Financial Education. • In 2015 and 2016 a guide for teachers was developed: 11 modules that comprise the field of Economic and Financial Education. • Training sessions that reached 300 teachers from the Ministry of Education and Culture throughout the country were made to influence the management of financial tools to make better decisions to achieve the goals and fulfill the responsibilities. • The “Electronic Wallet”, the Abrazo Program which aims to prevent child and adolescent labor and the Tekoporã Program which focuses on conditional monetary assistance for families living in poverty have been carried out - where over 130,000 families participate. • In mid-2015 the organization of the “Financial Education Fair” the Central Bank of Paraguay began. This is aimed at about 750 students from 20 schools aged between 13 and 18 years. • The amount of Basic Savings Accounts increased from 2,005 accounts at the end of 2014 reaching 91,670 accounts in December 2015 • The Central Bank of Paraguay conducted various activities such as literary competitions and essays on financial education aimed at school students, as well as launched Economic and Financial Education videos in April 2015, which are aimed at children and young people focusing on the history of money in Paraguay.

JUDGES’ THOUGHTS Paraguay is recognized as one of the most advanced countries in the region in relation to its financial education and inclusion efforts. In one year, via a multi-stakeholder and multi-thematic approach, Paraguay has advanced from initial stages of interest, participation and platform creation within the realm of financial education to creating and implementing a national strategy. Paraguay has carried out several unique, creative and interactive activities to do so.


CYFI Country Award |

Armenia | Europe & Central Asia Lead organization: Central Bank of Armenia Program Name: National Strategy for Financial Education, Curriculum Integration, “My Finance Month” Partners: Financial Institutions, Ministry of Education, Ministry of Finance, Schools, Universities, Private Sector, Civil Society, Ministry of Labor and Social Affairs, Ministry of Territorial Administrations and Emergency situations, Financial System Mediator, Armenian Motor Insurance Bureau, Unions of Banks, other public and private sector institutions and NGOs

INTRODUCTION In Armenia, the nation-wide program on the integration of financial education in the school curriculum was launched and becoming actively developed in 2015 was one of the main focus points of the national strategy. The competency matrix for school youth was developed and a Memorandum of Understanding with the Ministry of Education was signed to formalize the program in 2015. AN OUTSTANDING APPROACH A Financial Education Steering Committee was established on 30 May 2012 in Armenia to develop and implement the National Strategy for Financial Education (NSFE). The committee is an inter-agency advisory body (of 19 members), consisting of public and private sector members plus NGOs, coordinated by the Central Bank of Armenia. Integration of a financial education component into the school curriculum and in the Armenian State Pedagogical University educational program is provisioned in a few years – by 2020. Accordingly, all students will be involved in Financial Education process as it will be mandatory for everyone.

In addition to the NSFE, the Central Bank of Armenia also organized My Finance Month, which, with the support of other institutions, aimed to raise awareness about the importance of personal finance management. Many programs, seminars, debates, games and financial competitions were held for this target. In 2016, ‘My Finance Month’ was moved to April to coincide with Global Money Week and continues with the Armenian national month.

ACHIEVEMENTS • Seminars, events, lectures and other activities are being actively conducted all over the country, including incredible outreach in rural areas. • Several financial education programs have been implemented including: “Financial Brain Ring for pupils”, “Citizen Project for the pupils in the regions”, Financial Literacy for Youth (FLY). • A competency matrix was developed by working groups and approved by the Ministry of Education. • A Financial Literacy Bus was formed to visit urban and rural regions during My Finance Month.

• Armenia is considered to be one of the best practices in the region, when it comes to systematic approach to raising economic citizenship awareness of young people, accomplishing a great amount of work in a very short amount of time. • The “Financial Capability Assessment” will be conducted every 5 years. • Household survey conducted in Armenia in 2014 and results were published in 2015.

JUDGES’ THOUGHTS Armenia is recognized for its advanced and exemplary efforts in relation to financial education in the region. Armenia is one of the most advanced countries in the region in relation to financial education for young people, and is recognized for the implementation of its Financial Education Strategy which reaches children and youth in very unique ways. It is also worth noting the monitoring and evaluation that Armenia is doing of its policy and programs in order to improve efforts going forward in relation to youth and finance.

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Belgium | Europe & Central Asia Lead organization: Financial Services and Markets Authority (FSMA) Program Name: Wikifin.be (Financial Education) Partners: Ministry of Education, Consumer Organizations, Ministry of Finance, Schools, Universities, Public Social Welfare Centres, Debt Advice Agencies, Central Bank, Civil Society, Financial Institutions • an approach tailored to the target audience, taking their needs into account • lobbying to draw continual attention to financial education • offering support through scientific research

INTRODUCTION The Belgian legislators have tasked the Financial Services and Markets Authority with making a contribution to financial education. By way of carrying out this legal mandate, in 2013 the FSMA launched a financial education program under the name ‘Wikifin’. The financial education program comprises three pillars: the schools, the general public, and collaboration and the exchange of good practices with various stakeholders active in the field of financial education. AN OUTSTANDING APPROACH The Financial Services and Markets Authority has, in cooperation with partners from the educational field, developed educational materials for use in secondary and primary schools in Flanders and in the WalloniaBrussels Federation. In the 2014-2015 school year, pilot projects were carried out in order to test the materials. Ten general secondary schools from the Wallonia-Brussels Federation and fifteen vocational secondary schools in the Flemish school system took part. In May 2015, these projects were successfully completed. 46

The pilot projects yielded useful information for improving the educational materials, identifying best practices and detecting additional needs. The results of the pilot projects are available on the digital platform of the Wikifin.be website where a dedicated section Wikifin@School was developed. The platform hosts a wide range of teaching materials for the use of teachers and students. More than 200 educational resources are available on the platform. For example, there are practical tips for teachers, suggestions for classroom activities, videos and different interactive tools. The FSMA strives to have financial education incorporated into the regular school curriculum and quite some “lobby” work has been done in the last years to achieve this purpose. FSMA makes its expertise available to the various players, to help examine what role financial education could play in the classroom. Through and within the 3 pillars of the programme, the work is directed at: • achieving a multi-channel approach • optimizing cooperation with varied stakeholders • permanent monitoring of activities

ACHIEVEMENTS • The www.wikifin.be website received 1,258,913 visits in 2015, which represents an increase of 66% as compared to the results in 2014. • Since its launch in 2013, the site has reached nearly 4 million visits. • Key success factors are popular interactive tools such as simulators (for example, savings simulator: 381,334 simulations) and quizzes (pension quiz: 110,951 visitors). • A marketing approach based on quantitative and qualitative methods to categorize the target audience into segments and set priorities. • The FSMA strives to promote cooperation with stakeholders on matters to do with financial education, so far more than 70 organizations are involved. • Her Majesty the Queen was involved in the program for financial education in Belgium. This enabled Wikifin to take significant steps as regards high-level contacts and PR, increasing considerably its media exposure. JUDGES’ THOUGHTS Belgium is being recognized for the advanced innovative and creative approach to financial education in the country. Furthermore, Belgium has utilized a strong multi-stakeholder approach to accomplish the financial education achievements within the country.


CYFI Country Award |

Kyrgyzstan | Europe & Central Asia Lead organization: National Bank of the Kyrgyz Republic (NBKR) Program Name: National Strategy and National Committee formation Partners: Ministry of Education, Economy, Labour and Finance, banking and microfinance associations, international donors

INTRODUCTION The National Program of increasing financial literacy for the years 20162020 was developed in 2015, and adopted by the Government in June 2016, in which one of the important directions emphasized is to improve the financial literacy of children and youth.

textbook “Money Alphabet” were issued and distributed to all secondary general education schools in the country, which is intended for children aged 7-10 years.

ACHIEVEMENTS • A national financial literacy website with special focus for youth was developed. • “Money Alphabet”: first book for AN OUTSTANDING APPROACH children about money was produced The national strategy has identified by the central bank and distributed to children and youth as one of the main all schools in the country. target groups, and integration of • The first national-wide committee financial education in school system was created in 2015 to conduct the was identified as one of the priorities in the strategy. The National Program first awareness campaign about finance in the country – Global Money provides for the implementation of its action plan, which envisions a number Week. CYFI has set up the committee together with NBKR, GIZ and other of measures aimed at improving the stakeholders. financial capability of children. National Bank of the Kyrgyz Republic’s • The National Bank of the Kyrgyz Republic held excursions in the stand-alone financial education program also had a wide reach in 2015: Numismatic Museum of the National Bank. 30,000 copies of the interactive

JUDGES’ THOUGHTS Kyrgyzstan is being recognized for its significant improvements between 2014 to 2015 in relation to financial education efforts in the country. In just one year, Kyrgyzstan has increased its participation within the financial education sphere; it has a national platform and has begun initial programming of financial education programs for its children and youth. The quick progression of the country is largely due to the establishment of the national working group on financial education (starting with CYFI/NBKR establishment of GMW working group). The support from the financial sector, such as of the Union of Banks of Kyrgyzstan, is essential for these initiatives.

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Ivory Coast | Africa Lead organizations: Ministry of National and Technical Education & Ministry of Finance Program Name: Financial Education and Financial Inclusion Partners: Financial institutions, civil society and private sector associations

INTRODUCTION The Financial Education Program in Ivory Coast is expected to reach 100,000 young people by 2020. The country also intends to have a national strategy for financial education which addresses the needs of children (under 18) and youth (18-24). AN OUTSTANDING APPROACH The main financial education efforts within Ivory Coast were noticeable through a Financial Education Competition, the National Strategy for Financial Education and a National Financial Education Awareness campaign. Between 2014 through 2016, Ivory Coast has been making several strides to expand the Financial Education Program throughout the country. The Financial Education program aims to help children and the youth to develop healthy financial habits, and to give key information to teachers, parents and tutors as well regarding how to manage a personal or a family budget, how to use elementary financial services and how to warn children 48

and parents about the risks associated with credit and debt. One of the other goals is also to promote a culture of savings, investment and entrepreneurship amongst young people. Beginning in 2014, the National Platform lead by the Ministry of Finance started consultations on developing a national strategy for financial education. The country launched a financial education awareness campaign for students in 2014 that led into the 2015 school year. As such, there were and continue to be elements of financial, social and livelihood education taught in primary and secondary schools in the country. Within the same period, a financial education competition for schools was established. Beginning in 2015, and continuing into 2016, Ivory Coast has been working on developing a national strategy for financial education. Once completed, there will be a major focus on all demographic groups, including children and youth.

ACHIEVEMENTS • Financial and Social Education course pilot in teacher training

colleges. • Use of mass media in providing financial education. • First nationally lead Global Money Week campaign was marked in 2015 and the country continues to host a number of events and activities. • Stakeholder gatherings on financial education for children and youth took place. • The national financial education awareness campaign and competition in schools was launched during the 2014/2015 academic year.

JUDGES’ THOUGHTS Ivory Coast has been recognized for its national programs regarding financial education. Through a very dynamic campaign promoting financial education throughout the last years, Ivory Coast has been able to make outstanding advancements in terms of financial education and financial inclusion for the children and the youth. Thanks to the devotion of the team from the Ministry of National Education, the results of the Financial Education Program were particularly impressive this year.


CYFI Country Award |

Mozambique | Africa Lead organization: Central Bank of Mozambique Program Name: Implementation of Financial Education Programme of Bank of Mozambique and Nation-wide Savings Campaign “Dia Mundial Da Poupança 2015” Partners: Ministry of Education, educational authorities, SBFIC, ICC (International Capital Corporation), and financial institutions in the country.

INTRODUCTION Banco de Mozambique launched its financial education program in 2014, for which they have set up a separate Market Conduct and Financial Education Department. Children and youth are named as the main target groups of the strategy. The program covers financial education, financial inclusion and consumer protection pillars. Collaboration with educational authorities and Ministry of Education is seen as one of the priorities in order to reach children via schools. The separate national financial inclusion strategy was being elaborated in 2015 in collaboration with AFI and World Bank, and was adopted in summer 2016. AN OUTSTANDING APPROACH Activities of the financial education program towards children and youth include financial education seminars, lectures, games, radio and television shows and adverts. A lot of attention is being directed towards media and population outreach to raise awareness about financial education among the population. One of the main projects of 2015 included the national savings campaign “Dia Mundial Da Poupança 2015”, conducted with SBFIC and more than 15 financial institutions in the country for the World Savings Day. The savings campaign in 2015 was specifically targeted towards school children (secondary school) and young people.

in-classroom education sessions on financial literacy topics and in total more than 21,600 pupils through special events and activities. More than 490 teachers in 128 participating schools received in-depth training and education materials to enable them to deliver meaningful financial education training. • Implementation of the national program for financial education through seminars, lectures, visits to community centers; creation of materials, radio/TV/media outreach. • Savings campaign 2015 DDP 2015 was the biggest activity directed to children and youth. Via ToT approach the in-classroom activities were held in 35 regions, as well as 21,000 children were reached via special events and activities (like savings fair). • Central Opening Ceremony and Financial Expo attracted a lot of media and ensured outreach; • Strong partnerships developed both with financial institutions (15 FIs in 2015) and teachers and educational authorities. • Successful media campaign including TV, print and radio coverage. The production of the institutional video and the TV spot that passed on

TV and radio during the DDP celebration week allowed for increased awareness about DDP on a national scale. • 2 banks have developed new specific savings products for the campaign for young people, and the overall number of savings products rose from 13 to 15, which is a significant achievement in collaboration with financial institutions.

JUDGES’ THOUGHTS Mozambique is being recognized not only for its expansive growth in the field of economic citizenship, but also for its creativity, innovation and collaborative efforts. Further, Mozambique has dedication a lot of the efforts into the monitoring and evaluation aspect of their programs. Results were particularly impressive for specific opportunities to save in day-to-day life by managing expenditures, understanding the difference between wish and need, and by the idea of saving for a specific purpose/goal. The focus on youth of its savings campaign and prospective plans to continue focusing on children and youth makes the country stand out in these efforts.

ACHIEVEMENTS • In 2015, geographical reach of the savings campaign was expanded from Maputo and Matola to 35 cities / spread over 10 provinces in Mozambique. The 15 participating FIs worked with 128 schools throughout the country, with each FI covering 2 schools per province. The ambition is to reach all children in all regions with financial education and increase their savings behavior. • The Savings Campaign 2015 reached more than 16,700 pupils through 49


| CYFI Country Award

Swaziland | Africa Lead organization: Microfinance Unit of the Ministry of Finance Program Name: Financial and Social Education Partners: Aflatoun International, Ministry of Education, Central Bank of Swaziland, Bankers Association Swaziland

INTRODUCTION Swaziland joined the CYFI Network in 2014, when a delegation from the Microfinance Unit of the Ministry of Finance attended the CYFI Regional Meeting for Africa in Addis Ababa, Ethiopia. Since then, Swaziland has continued developing a Financial Inclusion Strategy throughout 2015 and has embarked on a Financial Education Initiative for young people which was implemented at the a national level in 2015. The country has integrated a semester course which was finalized in 2015 on social and financial education for Ngwane Teachers Training College. The course will be offered to teacher trainees during the 2016/2017 academic year. AN OUTSTANDING APPROACH As part of the Financial Inclusion Strategy, Swaziland is aiming to reach all of Swaziland including children and youth. The country strives for growth of the teacher training pilots in order to empower teachers to be able to adequately teach their pupils about financial and social education; this is expected to help with the integration financial education into the national education curriculum. Furthermore, using 2015 as a building block year, discussions are underway with the Microfinance Unit and CYFI on trainings for financial services providers in the country on children and youth financial services to better increase both financial education and financial inclusion for children and youth throughout Swaziland. ACHIEVEMENTS • Financial and Social Education course pilot in teacher training colleges. • Introduction of Social and Financial Education to stakeholders. • Meetings for Institutions of Higher Learning- Head of Departments and Principals of Colleges. • Data collection to determine the number of Program beneficiaries. • Meeting with Education Management in the Ministry of 50

Education to present the Social and Financial Education Program and discuss logistic of building capacity of the Teachers (Principals of Higher Institutions to attend to show that they support the Program). • Formation of Management Committee to facilitate integration of Social and Financial Education into the school curriculum. • Conduct Masters training of trainers on Social and Financial Education & Integration of Program into curriculum for lecturers and National Curriculum Centre.

JUDGES’ THOUGHTS Swaziland is being recognized for their progression in both financial education and inclusion. Through 2015, the country made advancements both in general participation within the realm of Economic Citizenship, as well as with initial programming within the country to further financial education and inclusion for children and youth.


CYFI Country Award |

Egypt | Middle East & North Africa Lead organization: Egyptian Banking Institute Program Name: Shaping the Future Initiative Partners: Central Bank of Egypt (CBE), Egyptian Financial Supervisory Authority, Ministry of Finance, Ministry of Education, Ministry of Youth & Sports, Egyptian Stock Exchange Authority, Federation of Egyptian Banks, Egypt Post together with banks, Donor organizations (GIZ- World Bank- CGAP), NGOs, private companies, schools and universities

INTRODUCTION Throughout 2015, Egypt has been placing a focus not only on financial literacy for children and youth, but on the development of child-friendly products as well. AN OUTSTANDING APPROACH To spread and enhance Financial Literacy in Egypt, in addition to the development of Friendly Financial Products for Children and Youth, a three-pillar approach has been utilized: National Strategy Formulation • GIZ played a major role in cooperating with EBI to hold capacity building workshops for the national committee members and all related stakeholders as well as drafting the 1st draft of the national strategy document with the financial literacy stakeholders. The 1st draft was shared with all related stakeholders and currently the final modifications are underway to enable the publishing of Egypt’s Financial Literacy National Strategy very soon. Financial Education and Awareness • Financial awareness sessions for children and youth were given during the GMW as well as holding financial literacy awareness sessions in 12

universities throughout the year. The sessions’ content was developed using Aflatoun curriculum. Friendly Financial Products • CBE launched its initiative to support SME’s and Entrepreneurship obliging all banks working in Egypt to finance such projects with only 5% interest rate. • 2nd product development workshop which resulted in several banks have developed children and youth firendly products (i.e. CIB, AAIB, Arab Bank, Qnb Al Ahly, HDB, Credit agricole, NBE and Banque Misr). • Signed a protocol with the Federation of Egyptian Chambers of Commerce to support young entrepreneurs.

ACHIEVEMENTS A Sustainable Development Model was created which relies on engaging all related stakeholders, building up their capacities and creating a saving culture within schools and universities through four stages: Exploring financial literacy landscape, capacity building, strategy setting and strategy implementation. As a result of the sustainable development model: • In 2014 and 2015, EBI has dedicated a session of its annual conference to

discuss financial literacy and inclusion within banking professionals • The Ministry of Finance holds an annual event to inform the public about the national budget. • A “Money Talks” conference was organized to present financial topics for the public. • Radio shows, social media, infographics, coloring books, playing cards and flash memories were all utilized which showed effective and made the learning process of financial literacy easier and more attractive to youth.

JUDGES’ THOUGHTS Egypt is being recognized not only for the vast efforts within the country to increase financial education and financial inclusion, but also for the vast outreach of such efforts, policies and programs. In addition to the creativity, Egypt is noted for the monitoring and evaluation component to its programing; an assessment was made based on the number of outreach, effectiveness of the outreach mechanism, the involvement of key stakeholders and their capacity building. Furthermore, Egypt has concrete action plans for 2016 to continue financial literacy efforts and to focus on financial inclusion for children and youth in the country. 51


| CYFI Country Award

Lebanon | Middle East & North Africa Lead organizations: Higher Council for Childhood (HCC) – Ministry of Social Affairs, Bank of Lebanon Program Name: National Strategy on Financial Education Partners: Ministry of Education and Higher Education in partnership with Basil Fuleihan Finance Institute and with the support of the Association of Banks in Lebanon

INTRODUCTION In 2014, a National Action Plan was elaborated by the Higher Council for Childhood. This involved training on financial education for students in private and public schools, preparation and participation in Global Money Week and participation of Lebanese children in the CYFI Highlevel Stakeholder meeting in New York. Then, in 2015, the National Strategy by the Ministry of Education and Higher Education and Basil Fuleihan Finance Institute was supported by the Association of Banks for further elaboration of the strategy. AN OUTSTANDING APPROACH Lebanon worked together very closely with CYFI in the development of their National Strategy on financial education. In preparation for the development of a national plan for promoting financial education to youth in Lebanon, various representatives from the Ministry of Finance, Banque du Liban, the Higher Council for Childhood the Ministries of Education and Labor and a number of private institutions and NGOs attended several CYFI meetings. In 2015, the Ministry of Education and Higher Education in partnership with Basil Fuleihan Finance Institute, and with the support of the Association of banks in Lebanon, launched the elaboration of the National Strategy on Financial Education in which children were focused on. For the 52

purpose of discussing and drafting the outline for the national plan for financial education, a workshop was organized over the course of two days. With the Strategy, Lebanon aims to: • Elaborate a national strategy on financial education for children. • Raise awareness about the Financial education for children. • Increase the level of knowledge on the financial education for children. • Increase the level of commitment of the banks and government on financial inclusion. • Continue looking for ways to develop entrepreneurial avenues as Lebanon’s entrepreneurial ecosystem continues to grow.

ACHIEVEMENTS • National training for 25 leaders who are working with children in Beirut in partnership with YMCA and with the support of Takaful association. • Banque du Liban successfully pushed for the promotion of entrepreneurship in financial education as a way to empower youth and tackle unemployment. • Banque du Liban has adopted entrepreneurship as an integral component of financial inclusion and literacy for youth. • Banque du Liban trained 710 students from various colleges in Lebanon between the months of June and September, 2015. The training was

administered in the main central bank and throughout all of its respective regional branches. • Various Banque du Liban departments participated in the training sessions, including the Special Investigation Commission (Lebanon’s financial investigation unit), the Banking Control Commission, private financial institutions, the Red Cross and the internal security services. • Students learned about the role and operations of Banque du Liban and had the opportunity to visit the Banque du Liban money museum, clearing house and library. • The UK Lebanon Tech Hub, whose mission is to develop and support small-to-medium size enterprises and to promote entrepreneurship and bolster Lebanon’s knowledge economy, participated in the training sessions for the very first time.

JUDGES’ THOUGHTS Lebanon is acknowledged for their multi-stakeholder approach to increase financial education for children and youth in the country. Further, it is recognized that in the midst of political instability within the country and the need to prioritize resources, Lebanon continues striving the well-being of the youth population in relation to financial education.


CYFI Country Award |

Morocco| Middle East & North Africa Lead organization: The Moroccan Foundation for Financial Education Program Name: National Strategy on Financial Education Partners: Agence de Developpement Social and Centre Med VI de soutien a la microfinance solidaire, Central Bank, ministries, associations, cooperatives, SMEs, universities

INTRODUCTION Based on an initial survey on financial capabilities finalized in 2014 by the World Bank, Morocco has a National Strategy on Financial Education (NSFE) in place, which is currently in its implementation phase. AN OUTSTANDING APPROACH The National Strategy on Financial Education has three directions of implementation: 1) Implementation of awareness programs and financial education tailored to the different segments of the population to encourage their financial inclusion, and integrate financial education programs of public and private actors. • Integration of financial education in the economic and social development programs of public and private actors 2) Develop the skills of the population to acquire the capabilities of taking decisions and financial risks • Promotion of awareness campaigns and financial education for SME 3) Promotion of the cooperation on financial education • Establish partnerships with institutions involved in promoting Financial Education

ACHIEVEMENTS • Integration of financial education into academic curriculum and deployment of the program among the schools of Rabat as a pilot experience. • Awareness rising activities for the financial education of the youth (Global Money Week, financial education portal for youth and teachers, etc.) • Awareness rising activities for the population without access to Financial services in a regionalized approach and focused on rural areas. • Awareness rising through media channels (Internet- social networks, audiovisual media). The radio campaign has reached one and a half million listeners per day on average. • Awareness and information campaigns to increase the

population’s knowledge on financial products and risks (recommendations made regarding financial institutions (transparency, responsibility, information and customer advisory service). •Establishment of cooperation framework with the university. • Two Financial education Caravans have taken place in all the Moroccan regions to improve artisans’ financial capacities. These caravans reached over 4,000 artisans. • Financial education training in favor of client advisors of Al AMANA Microfinance (The leader in the sector) as a pilot experience. The FMEF is looking to disseminate financial education amongst micro entrepreneurs and all the microcredit sector’s clients. • Financial education training in favor of small farmers in partnership with “Crédit Agricole du Maroc”. • The Moroccan foundation for financial education in partnership with the Arab Monetary Fund (AMF), Bank Al-Maghrib and international partners organized a high level conference on “Financial Education in the Arab world: strategies, implementation, and impact” on 20 and 21 October 2016 in Skhirat, Morocco.

authorities, senior executives from regional and international financial institutions, professionals from the private sector. This event was an occasion to share lessons learned from each countries political programs and discuss the broader links between financial education, consumer protection and inclusion and economic development. In addition, the Arab world has established a regional action plan to boost financial inclusion amongst the Arab communities.

JUDGES’ THOUGHTS Morocco is recognized for their efforts to foster cooperation with national stakeholders working on Financial Education to Strengthen the impact of actions initiated by national associations and to development synergies of financial education efforts to help move the country from Strategy creation to implementation. The country is also striving to partnering with international institutions working for Financial Education to develop a framework for the exchange of best practices as well as fundraising opportunities to further develop their efforts.

The conference was attended by representatives of the Ministries of Finance, Ministries of Education, central banks, financial market

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| CYFI Country Award

Australia | Asia & The Pacific Lead organization: Australian Securities and Investments Commission (ASIC) Program Name: National Financial Literacy Strategy 2014-2017 Partners: Australian Government Financial Literacy Board (EY Sweeney in 2014 to understand the level of financial literacy of the population)

INTRODUCTION The 2014-2017 version of the National Financial Literacy Strategy builds on the 2011 National Strategy, and the wide-ranging public consultation that the ASIC completed in 2013 with around 200 stakeholders from business, community, education, and governmental authorities. After the initial strategy released in March 2011, ASIC and other partners in the Australian government have systemically ensured that the strategy be reshaped on a rolling basis based on the status and learnings gained during implementation. The strength of Australia’s strategy lies on this continuous reshaping to adjust to the demands and the landscape of financial literacy as well as M&E for teacher training. AN OUTSTANDING APPROACH The National Financial Literacy Strategy highlights five core ambitions across 2014 - 2017 to achieve impact for the next generation of Australians: 1. Promote a curriculum-based approach to teaching financial literacy in schools – This has been done and tracked by engaging schools and children either by the MoneySmart program or recognized financial 54

literacy programs. 2. Increase the number of teachers trained through ASIC’s MoneySmart Teaching professional learning program – Empower teachers by providing them training; the government has already established a teacher-training framework for each region. 3. Develop resources for teachers and students with a key focus on the Australian Curriculum for Economics and Business – Resources were made available online for both students and teachers, as well as funding for offline publications for regional territorial bodies. 4. Increase the engagement and confidence of teachers to teach consumer and financial literacy through the Australian Curriculum – Along with the trainings, a Monitoring and Evaluation system was put in place to gauge teacher’s knowledge and confidence. 5. Increase the number of vocational education and training (VET) students participating in financial literacy education – The government aims to make it mandatory and/or more accessible for VET students.

ACHIEVEMENTS • Resources have been regionally

funded for offline publications, and online resources have been made available for teaching capabilities. • ASIC reports 5 million unique visitors to ASIC’s MoneySmart website, and about 150,000 application downloads. • In promoting a curriculum-based approach to teaching financial literacy in schools – apx. 1/3 of all Australian schools have been engaged in MoneySmart’s Teaching Program. • Increasing the number of teachers trained through ASIC’s MoneySmart – In 2015, about 4,000 teachers took part in the MoneySmart Teaching Development program (totaling to 14,300 teachers who have taken part since 2012, on track with the 2017 goal of 20,500).

JUDGES’ THOUGHTS Australia has been making very large strides in relation to financial literacy. The efforts the country has taken in order to increase financial literacy amongst its young people are evident. The five core ambitions of the strategy are particularly noteworthy, especially focus on monitoring and evaluation of teacher training, as it is essential for teachers to feel confident when delivering financial literacy lessons to the children and youth.


CYFI Country Award |

Fiji | Asia & The Pacific Lead organizations: Reserve Bank of Fiji; National Financial Inclusion Taskforce (NFIT) Program Name: National Financial Literacy Strategy 2013-2015 Partners: NFIT is chaired by the RBF and has members from the Ministry of Finance, Fiji National Provident Fund, Fiji Council of Social Services, UNDP’s Pacific Financial Inclusion Program, and Bank South Pacific. Various working groups: Microfinance Working Group, the Statistics Working Group, the Financial Literacy Working Group. Notable other partners involved are the Ministry of Education, National Centre for Small and Micro Enterprise Development, Fiji Bureau of Statistics, Post Fiji, along with public, private and civil society sectors are involved banks

INTRODUCTION The effective coordination done by the National Financial Inclusion Taskforce (NFIT), led by and headquartered at the Reserve Bank of Fiji (RBF), resulted to consistent socio-economic improvements for young (and old) Fijians. They established Fiji’s national platform in 2010. The in-depth analysis and mapping of financial education and inclusion initiatives in the country in 2011, have allowed the NFIT to have a strong foundation to coordinate and push forward its strategy’s initial programming and pilots in 2015. Notably, due to the successful implementation of this initial strategy, the country’s follow-up “2016-2020 National Financial Inclusion Strategic Plan” was released in 2016. AN OUTSTANDING APPROACH In November 2011, the Fijian government invested in an assessment of the financial competencies of Fijians. The study was used as the basis for the development of national strategy, which is aimed at lifting the levels of financial competency of all Fijians. The focus on a multi-stakeholder and coordinated approach, which can be seen in all of the action points that are released in the updates on the status of the national strategy bi-annually, is what stands out.

that the monitoring and evaluation component of the integrated Financial Education (FinED) program are reviewed to ensure quality of financial education in the national curriculum, showing Fiji’s commitment to holistic approach.

ACHIEVEMENTS • Implement Financial Education (FinED) program to all schools – successful to implement across all 910 schools (primary and secondary) in Fiji by 2015. • Monitor and Evaluate (M&E) FinED programs – successful as the commitment to include an M&E component was integrated into the implementation. • Between 2009 and 2015, Reserve Bank of Fiji released bi-annually an update on the status of its initiatives towards achieving better financial capability (i.e. a reports on financial literacy and inclusion efforts were released in 2009, 2011, 2013, and 2015). In all reports, they have continually succeeded and added new goals to complement these successes. • Key partnerships have been established between Reserve Bank of Fiji and mass media communication (i.e. radio & TV) to be able to spread and educate children on financial education. Reserve Bank of Fiji

maximized the usage of the mascot “Vuli the Vonu” in mass media, which they have noted as a recognized figure in personal finances and well-being for children in Fiji.

JUDGES’ THOUGHTS Throughout 2015, Fiji has made great progress in relation to financial education as a result of the national strategy. Specifically, Fiji is recognized for the strong initial programming efforts, later leading to the implementation of the national strategy. While Fiji is a small country, it is very impressive that all primary and secondary school have been reached with the integration of the financial education curriculum, hence achieving its main target of having quality financial education within its schooling system. It is also noteworthy that Fiji has included in its concrete targets for 2020 the specific goal of increasing financial inclusion of children and youth, which stresses the holistic approach of Fiji’s economic empowerment of young people.

Learning from the 2015 strategy, the RBF and NFIT have jointly mentioned and highlighted that the strategy aims to build on both financial literacy and access to financial services for young people, so as to ensure that young people grow to become more financially competent. This is noticeable in two major points that are highlighted in the 2016-2020 version of the strategy: to increase the percentage of youth accounts with formal financial institutions from 51% to 80% by the year 2020 and to ensure 55


| CYFI Country Award

Mongolia | Asia & The Pacific Lead organization: Bank of Mongolia Program Name: National Plan for Financial Literacy Partners: Ministry of Finance, Financial Regulatory Commission, Ministry of Education, Culture and Science, Ministry of Population Development and Social Protection, Mongolian Bankers Association, Mongolian Stock Exchange, the Mongolian National University, Government University of Finance and Economics (UFE), and the Science National Centre for Lifelong Education in addition to public, private and international organizations

INTRODUCTION By means of the National Plan for Financial Literacy, Mongolia aims to educate all children and youth by including in the school and universities curriculum subjects and contents on financial literacy. Furthermore, through the national plan, Mongolia aims for improved financial literacy of individuals regarding personal finance, improved financial knowledge of people regarding controlled budgeting, savings for the future, being proactive and thinking for the future. Teacher training to better enable the teachers to teach financial education were also organized. In 2015, the Bank of Mongolia implemented the pilot of the new subject “Business Studies” to Year 10, 11, and 12 with a group of teachers trained both by the Ministry of Education and the Bank of Mongolia. This was implemented in 40 schools (14 in capital city, and 26 in rural areas). The successful pilot resulted in a signed agreement between the Bank of Mongolia and the Ministry of Education to invest on course books and teachers resource packs on financial education on Year 10, 11, and 12. As a result, the Business Studies 56

course was made a compulsory elective course within Personal and Household Finance.

AN OUTSTANDING APPROACH For the priority focus area on financial education for school age children, the program introduced new subjects in the school curriculum with the specific objective to provide students with basic financial concepts and also improved capability and capacity of school teachers regarding financial literacy. For the priority focus area on the financial literacy program for youth, the program cooperated with universities providing financial literacy knowledge for youth via university. Furthermore, lectures and public awareness events on financial literacy were organized.

ACHIEVEMENTS • Introduced to the curriculum a new subject called “Business Class” for Years 10, 11, and 12 students (ages 16, 17, and 18). • A program group has been established to see how university curricula could include financial literacy to target youth. • Teacher training has been planned and implemented across the country

for financial education delivery. • Training seminars have been accomplished for the 1,050 teachers who will teach the business study course for school children all over 21 provinces in the country. • Strong executive support by the Governor of the (Central) Bank of Mongolia. • The establishment of a working group that specifically focused on designing and implementing of a national plan (or strategy) for financial literacy. • Further investment by the Central Bank to strengthen the “Public Education and Information Center” department.

JUDGES’ THOUGHTS Mongolia was recognized for the vast progress it has made as a country in relation to financial education and financial inclusion for children and youth in such a short amount of time. In just one year, Mongolia has progressed from beginning stages of financial education development within the country, to larger movements of participation, platform creation, in-depth mapping and analysis of projects within the country, in addition to initial programming. What Mongolia demonstrates with its achievements is that with focus and commitment from various levels and institutions, a country could swiftly and effectively implement its goals for increasing children and youth economic empowerment initiatives.


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❹ CYFI “Global Money Week” Awards REGIONAL FINALISTS & THE WINNERS Americas & Ministry of Education, Autorregulador del Mercado de Valores de The Caribbean Colombia – AMV, Asobancaria, Banco de la República, Banca de las Oportunidades, Fundación Plan, Fasecolda, Ministerio de Educación de Colombia Colombia Educación Financiera BBVA Bancomer, Museo Interactivo de Economía (MIDE), Educación Financiera Banamex Mexico Superintendencia de Bancos de Panama Panama Europe & SPECIAL RECOGNITION: National Bank of the Republic of Belarus Central Asia Belarus Danish Bankers Association; Danish Association of Mathematical Teachers Denmark THE WINNER: Ministry of Finance of Russian Federation Russian Federation

Africa Central Bank of Nigeria (CBN), Banker’s Committee Nigeria Bank of Zambia, Securities and Exchange Commission, Ministry of Finance, Ministry of General Education, Pensions and Insurance Authority Zambia The People’s Own Savings Bank (POSB) Zimbabwe

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Middle East & SPECIAL RECOGNITION: Egyptian Banking Institute North Africa Egypt Eghtesad Novin Bank Iran Fondation Marocaine pour l’Education Financière Morocco

Asia & Daffodil International University, Bangladesh Bank, Prime Minister’s The Pacific Office of the Government of the People’s Republic of Bangladesh Bangladesh Ministry of Education Brunei Darussalam Central Bank of the Philippines Philippines

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| CYFI “Global Money Week” Award

Colombia | Americas & The Caribbean Lead organizations: Ministry of Education, Autorregulador del Mercado de Valores de Colombia – AMV, Asobancaria, Banco de la República, Banca de las Oportunidades, Fundación Plan, Fasecolda, Ministerio de Educación de Colombia Partners: Fiduciaria Central, Fiduciaria de Occidente, SAI Seguridad, Seguros Bolivar, AFP Porvenir, AFP Colfondos, Grupo Corpbanca - Helm, BTG Pactual, Asofiduciarias, Asofondos, Banco Mundo Mujer, Bancompartir, Banco AV Villas, CorpBanca, BBVA COLOMBIA, Jóvenes por las Finanzas, BANCO AGRARIO DE COLOMBIA, FINAGRO, Bancolombia, Davivienda, Bancoomeva, Bancamía, CajaHonor, Fundación Amanecer, Superintendencia Financiera, Seguros Mundial, Financiera Comultrasan, Servimcoop, Contactar, Confincafe, Cooptenjo, Colegio Olga González, Casa de la Cultura (Casa Amarilla), Municipio de Bayunca, Universidad Tecnológica de Chocó, Organización de jóvenes primavera, Comunidad de Candelillas carretera, Comunidad Imbili, Comunidad Tangeral del Mira, Comunidad puertas del Sol, Junta communal Villa Rica, Monitores deportivos, Profesional de juventud de alcaldía Villa Rica, dpto Cauca, Comunidad de San Antonio (Jamundí), Comunidad el descanso, Comunidad Chilvi, Comunidad las Américas, Familias en Acción, Univalle, RCN, Publimetro, Portafolio, Colegio Liceo Patria Primaria y Bachillerato (Ejército Nacional de Colombia), Colegio Nuestra Señora de Fátima (Policía Nacional de Colombia), Colegio Armada Santa Fe de Bogotá (Armada Nacional de Colombia), Aflatoun, Coomuldesa (Aflatoun Partner). also won a free course in personal finances from his ninth grade teachers and a savings workshop given by Banco de la República (the Central Bank). • Financial Education Rally with PQR codes • The Savings Board contest

INTRODUCTION To celebrate Global Money Week 2016, the Ministry of Education specially developed school activities for the Week for 1st - 10th grade teachers. The Ministry wanted both students and teachers to be more involved with Financial and Economic Education, and sought to increase awareness not only through math, but also through social studies and languages, as basic skills for financial education. For example, smart decision making regarding management of natural and financial resources can be developed through various academic areas. These activities were shared directly with the Secretary of Education of each department for wide circulation amongst schools. The Global Money Week activities were also shared through the website “Red Maestros”, 60

designed for teachers, as a useful reference for their classes.

AN OUTSTANDING APPROACH Various contests were organized by the GMW Colombia Committee, which consists of representatives from Banco de la República, Fundación Plan, Banca de las Oportunidades, Asobancaria, Ministerio de Educación, Fasecolda and AMV: • In December 2015, the committee organized a contest for the best slogan in Spanish for Global Money Week. There were two winners, one for the best slogan, #AhorroParaMiFuturo, which was used during the celebration, and the other for the most amount of “likes” on Facebook for the proposed slogan. Each winner was awarded a tablet, but the winner of the slogan contest

A mobile exhibition about the history of money and bills, as well as the history of entrepreneurs, from Santander, Colombia was also created, along with the “Education and financial inclusion” fair, with savings workshops for kids and educational material from different organizations which was organized in San Andrés, Colombia. Furthermore, children and youth took part in a “painting the savings landscape” activity, and made messages alluding to saving and saving smart; a walk was organized through the main streets to share these messages with the people around in the municipality of Turbaco.

ACHIEVEMENTS • Stakeholders: 69 • Activities: 416 • Direct reach: 116,685 • Indirect: 5,572,107 • 1.09% of population (Youth population 5-18 years = 11,512,000) JUDGES’ THOUGHTS Colombia demonstrated exceptional diversity, efficiency and innovation in their GMW activities, as well as substantial efforts in engaging and collaborating with a number of various local stakeholders.


CYFI “Global Money Week” Award |

Mexico | Americas & The Caribbean Lead organizations: Educación Financiera BBVA Bancomer, Museo Interactivo de Economía (MIDE), Educación Financiera Banamex Partners: Kidzania, Von Glümer School, Aflatoun, Sura Mexico (Aflatoun partner)

INTRODUCTION During Global Money Week 2016, partner organizations throughout the country were able to reach 38,785 children and youth through their innovative activities. These activities included role playing and educational activities in partnership with Museo Mide (Interactive Museum of Economics) and involved the local branches and employees of the banks. AN OUTSTANDING APPROACH This year, as a result of the strategic collaboration between Educación Financiera BBVA Bancomer and the Interactive Museum of Economics (MIDE) a series of interactive and fun activities were deployed. Children performed 4 activities which helped them become aware of the responsible use of money: • Discovering the World Through 15 Currencies: children took a journey to different countries using their national coins. They explored a series of numismatics, their colors, forms and icons, and made money exchanges. • Value Scale: children made daily life decisions, analyzing a series of possibilities with different values, each one associated with each decision. The task became complicated when the children had to see that each decision taken balances with their ethic formation and financial decisions. • A Savings Adventure: children and youth learned about savings and the road to their own goals and dreams. • Mint Your Own Coin: children were able to create their own money. Educación Financiera BBVA Bancomer and KidZania built and designed models of a local bank, fire station and insurance company for children, where they associated the responsible use of money with individual and collective values through role playing activities. This program is globally the first and only of its kind within all the Financial Literacy Initiatives.

BBVA Bancomer’s employees spent their time and effort delivering financial education workshops to vulnerable children, who receive scholarships from BBVA Bancomer’s Foundation. Adults’ and SMEs’ workshops were also distributed to foster a cooperative environment in the family. Educación Financiera BBVA Bancomer’s workshops were also given to Von Glumer’s elementary and middle school students. Educación Financiera Banamex also participated with four very interesting activities throughout the country. Educaravan, for example, conducted various educational activities such as workshops, conferences and Movies in Motion, with the aim of sensitizing people to the importance of financial and economic education and to help them develop or strengthen these skills. Additionally, Educación Financiera Banamex put in place a moving fair, an activity that promoted an entrepreneurial culture and provided visitors with financial tools that may contribute to the establishment of goals in order to improve the life quality and generate general and collective wellness. Movies in Motion, another of the

activities put in place by Educación Financiera Banamex during Global Money Week 2016, consisted of three mobile theaters with a capacity for 91 people. Inside the theatre, financial education films were projected free of charge for all people to see. Finally, an economic education program took part in the Financial Park, introducing youngsters to financial planning. During the program, using a simulator, children and youth had the opportunity to understand the basics of finance, to analyze different daily situations and to learn how to make a budget in a practical way.

ACHIEVEMENTS • Stakeholders: 8 • Activities: 15,895 - workshops (2,230), bank visits (9,264), radio shows (2,778), money museum visits (1,587), theatre (36) • Direct reach: 38,785 • .12% of youth population (Youth population 5 - 18 years = 30,650,000) JUDGES’ THOUGHTS Mexico demonstrated exceptional diversity, efficiency and innovation in their GMW activities, with an incredibly impressive cumulative summary of activities and events that took place, focusing on exceptionally creative ways to engage children and youth in the Week. 61


| CYFI “Global Money Week” Award

Panama | Americas & The Caribbean Lead organization: Superintendencia de Bancos de Panamá Partners: Superintendencia del Mercado de Valores de Panamá, SUMA Financiera, Tocumen, S.A., Finanzas Para Todo, Fundación Yo Pinto una Sonrisa, Yajois Super Tiendas, Cooperativa Nueva Unión R.L., Eventos Carolina, Autoridad de Aseo (AUD) celebrating Global Money Week in Panamá. The “Global Money Week Panamá” fan page on Facebook reached more than 10,000.00 views and interactions with Global Money Week publications before, during and after the celebration.

ACHIEVEMENTS • Stakeholders: 17 • Activities: 43 • Direct reach: 1,005,310 • Indirect reach: 1,000,000 • .56% of youth population (Youth population 5 - 18 years = 932,000)

INTRODUCTION Panamá joined in the celebrations of Global Money Week 2016 with an array of both stakeholders and activities. AN OUTSTANDING APPROACH For the third consecutive year, Panamá joined the celebrations of Global Money Week 2016 with the slogan “Take part. Save smart!” Various activities took place in which 5,310 students from a number of schools in various parts of the country were involved. Furthermore, Global Money Week in Panamá included the participation of public and private schools, and, for the first time, schools in the provinces of Chiriqui, Herrera and Los Santos joined in the celebrations. Activities included workshops, sports competitions, murals, dramatizations, talent shows, storytellers and a contest where students created piggy-banks from recycled materials. All of these activities were aimed at promoting financial education, money management and the importance of savings.

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Additionally, social media channels and networks, such as Facebook, were a big tool for partners

JUDGES’ THOUGHTS Panamá demonstrated exceptional diversity, efficiency and innovation in their GMW activities, as well as substantial efforts in engaging and collaborating with different local stakeholders including financial service providers and civil society organizations.


CYFI “Global Money Week” Award |

Belarus | Europe & Central Asia Lead organization: National Bank of the Republic of Belarus Partners: Ministry of Education of the Republic of Belarus, Association of Belorussian Banks, Association of Financial Market Development, The Belarusian Association of Insurers, Association of Belarusian lessors, Republican Microfinance Center, The Belarusian Republican Youth Union, The Youth Entrepreneurship Support and Development Centre, Ltd.IGRIKA, BTRC Payment System BelCard, National Academy of Science of the Republic of Belarus, Belarusbank

INTRODUCTION More than 4,000 activities took place throughout all regions of the Republic of Belarus during Global Money Week 2016, including more than 3,000 educational visits, lectures and workshops for youth, financial education games, seminars, theatre performances, essay and art competitions and many more. This year’s Global Money Week in Belarus was linked to the official denomination of the national currency that was scheduled to take place on 1 July 2016. The Week was used as a catalyzer for the massive informative campaign of young citizens about this important issue and raising the level of their financial literacy. Thus, in accordance with the agreement reached with the Ministry of Education of the Republic of Belarus, the experts of the National Bank, commercial banks, associations of financial market participants and other industry organizations arranged financial education visits, workshops

and lectures in schools and talked to children about the denomination, the look of the new banknotes and coins, their security features, and answered the questions of children and youth. The objective of this year’s Week was very ambitious – to reach all the educational institutions of the Republic of Belarus – and the country has come very close to the realization of this ambition!

AN OUTSTANDING APPROACH The Week was traditionally opened at the Belarusian Currency and Stock Exchange on 14 March with the “Ring the Bell” ceremony, which saw participation from more than 40 youth participants, together with all major national media and press houses including national television stations and newspapers. Another highlight was the financial education event at the Minsk Regional Lyceum, with the participation of the top management of the National Bank of the Republic of Belarus.

ACHIEVEMENTS • Stakeholders: 3500+ • Activities: 4,000+ • Direct reach: 300,000 • Indirect reach: 600,000 • 25.1% of the youth population (Youth population 5-18 years is 1,195,000) JUDGES’ THOUGHTS Belarus is recognized for its incredible outreach to the youth population of the country, by means of an extensive collaborative effort of stakeholders in the country to conduct thousands of activities. Not to mention, the involvement of youth in Global Money Week from 2015 to 2016 has significantly increased from 55,000 reached to 300,000 reached. The National Bank of the Republic of Belarus successfully used the campaign as a catalyzer to inform all the young people in the country about important changes in the financial system, and has used wide media support for it. 63


| CYFI “Global Money Week” Award

Denmark | Europe & Central Asia Lead organizations: Danish Bankers Association; Danish Association of Mathematical Teachers Partners: The Danish Consumer Council; Financial Services Union Denmark; Danish National Police; About the Agency for Digitization Association made a homepage with the aim of educating young people about digital behavior: how to avoid password theft, phishing and how to take care of personal information. The focus on digital security was developed to address the challenges young people face in their everyday, digital lives. This platform consists of movies, a quiz and more, which created a basis for a discussion in the classroom.

ACHIEVEMENTS • Stakeholders involved: 606 • Activities carried out: 607 • Direct reach: 21,000 • 2.4% of population Youth population 5 - 18 years = 875,000)

INTRODUCTION Since 2015, financial education has been a compulsory part of the Danish national curriculum for primary school pupils in 7th-9th grade (aged 13-15). As part of the curriculum, pupils learn about budgeting, savings and comparing different types of loans; they also learn more about their rights as consumers and the economic circuit, where banks transform short term deposits into long term loans. Last year, pupils who participated in Danish Global Money Week had financial education as a major part of their school lessons. AN OUTSTANDING APPROACH For Global Money Week 2016, interactive games, educational videos and traditional teaching methods were the corner stones of the initiative for the approximately 20,000 pupils and 500 schools that participated in Danish Money Week 2016. All of the pupils were educated about private financial matters and learned how to make a budget, how to save money and how to make the most of their money. A central part of Danish Money Week was the game “Reach Your Goals”. This game was a competition where pupils participated in groups and faced a series of 64

dilemmas and mathematical financial challenges. The winning group received a prize at the end of the Week. In 2016, the leading organizations of the Week, supported by the Danish National Police, also focused on digital security. The Danish Bankers

JUDGES’ THOUGHTS Given the strong influence of technology on today’s children and youth, Denmark is recognized for the unique and innovative aspect of the inclusion of the National Police for digital security to ensure safe online behavior through interactive activities.


CYFI “Global Money Week” Award |

Russian Federation | Europe & Central Asia Lead organization: Ministry of Finance of Russian Federation Partners: Institute of Financial Planning; SPN Communications; Central Bank of Russian Federation, Federal Service for Supervision of Consumer Rights Protection and Human Well-Being (Rospotrebnadzor), Ministry of Education and Science of the Russian Federation, Rossgosstrakh zhizn, Ingosstrakh, MetLife, Sberbank Strakhovanie, Mastercard, PPF Strakhovanie zhizni, Soglasie Vita, Renessans zhizn, NPF Buduscheye, NPF Blagosostoyanie, MiniBoss School, Visa, Aiesec, National Research University Higher School of Economics, Financial University under the Government of the Russian Federation, Trinfiko, Renessans Kredit, Pochta Bank (formerly Leto Bank), Alfa Bank, AKIBank, Kuban Kredit, Sberbank, Home Credit Bank, Bank of Moscow, Promsvyazbank, Uralsib, Rosinterbank, Citi Bank, Russian Association of the Student Unions

INTRODUCTION The second Global Money Week in Russia was organized by the Ministry of Finance of the Russian Federation together with a number of partners, including the Ministry of Education and Science, the Federal Service for Supervision on Consumer Rights Protection and Human Wellbeing, Central Bank of Russia, and many financial institutions, insurance companies and banks. AN OUTSTANDING APPROACH The Week was celebrated in all regions of the Russian Federation, making for an incredibly large scale event. It opened with a Financial Literacy Test, which was held in dozens of institutes. Throughout the Week, about 80,000 students tested their knowledge on basic financial matters, in addition to more than 50,000 people who passed such tests online via the national financial education website http://vashifinancy. ru (Вашифинансы.рф). The Week included over 11,000 events

which involved over 800,000 young participants. Experts from government bodies and financial institutions conducted open lectures in schools and universities devoted to diverse financial education matters. Over 2,000 educational institutions registered on the Week’s website, and over 3500 applied to attend lectures and excursions. Another activity of the Week was an essay competition for schoolchildren and university students. Over 2,000 creative works devoted to different issues of financial literacy were submitted to the jury. Many high level public figures supported the Week, including the former Minister of Finance of the Russian Federation Mr. Alexey Kudrin who conducted a public lecture at the school in Arkhangelsk, and the Head of the Federal Service for Supervision of Consumer Rights Protection Ms. Anna Popova at a school in Moscow. The week had a grand closing with a Financial Literacy Game that was led by actor and television presenter Artem Korolev and actress Elisaveta

Arsamasova, which gathered wide media attention.

ACHIEVEMENTS • Stakeholders involved: 2,045 • Activities carried out: 11,191 • Direct reach: 800,000 • Indirect reach: Entire youth populations (apx 18.4) • 4,3% of population (youth population 5-18 years = 18,429,000) JUDGES’ THOUGHTS Russia is recognized for not only for its vast outreach to involve the entire youth population in events and activities that took place during the Week, but also for the vast stakeholder involvement and the variety of activities organized. Furthermore, not only did GMW reach all regions of the country, but the media and celebrity coverage and endorsement was impressive as well – demonstrating the various levels of involvement in this important event.

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Nigeria | Africa Lead organizations: Central Bank of Nigeria (CBN), Banker’s Committee Partners: Lynx Nigeria, Junior Achievement (JA) Nigeria, Aegis Empowerment Initiative(AEI), GIZ Nigeria, SAGE Nigeria, High World International, Network of Young Female Leaders of ECOWAS, Africa for Millennium Change Initiative (AFMCI), Financial Literacy for All, Child Development and Concern Foundation (CDCF), Eadda Kids Enterprises, Entrepreneurial Development Initiative (ENDIP) Consulting, Nigeria Stock Exchange (NSE), Ajapaworld Company episode of ‘Ajapa’- the witty tortoise program - on national television. The Ajapaworld team also held debates and financial literacy challenges for young people. The Child and Development Foundation and personnel of First National Bank Nigeria visited 16 primary and secondary schools in the Ibadan and Oyo states during GMW, to promote healthy savings habits in students. In each of the schools, youngsters staged drama sessions which highlighted the importance of savings. JA Nigeria also partnered with CBN to organized interactive sessions on financial systems for young people.

INTRODUCTION The Central Bank of Nigeria (CNB) and the Bankers’ Committee led the 2016 Global Money Week (GMW) celebrations in Nigeria. The Committee, which is made up of representatives from the Central Bank of Nigeria (CBN), Deposit Money Banks (DMBs) and Discount Houses, coordinated GMW activities across the country alongside various other organizations. The week-long celebrations in Nigeria commenced with a huge youth-led Financial Literacy Road Show in Abuja, aimed at fostering a savings culture among the general public. The heads of various financial institutions in Nigeria visited schools in the country to deliver financial education to primary and secondary school students. The visits were part of a School Adoption initiative coordinated by the Banker’s Committee. AN OUTSTANDING APPROACH Commercial Banks and Microfinance Institutions (MFI’s) in the country opened their doors to students, who visited banking halls for jobshadowing and to observe the day-today banking activities and the CBN organized a Child and Youth Finance 66

Exhibition in Abuja as part of the Week’s activities. Several NGOs, civil societies and some of Nigeria’s development partners also joined in this year’s GMW celebrations to expand the country’s financial education outreach across several states. The German Development Cooperation (GIZ) and its affiliate microfinance institutions organized workshops on financial education, employment, job shadowing, savings campaigns and school bank initiatives in four states. The SAGE Nigeria team, made up of primary and secondary school students, received a tour of the CBN Money Museum. Aegis Empowerment Initiative (AEI) held an interactive financial education session with students from BEMA Home School and launched a savings initiative in the school. Financial Literacy for All (FLFA) held special financial education workshops for the blind in Lagos. The organization also donated some financial education materials in braille to their local school for the blind. Eadda Kids Enterprise undertook a number of social media campaigns on savings. Ajapaworld marked their GMW celebrations with a special

ACHIEVEMENTS • Stakeholders: 121 • Activities: 158 • Direct reach: 74,465 • Indirect reach: 87,000 • .12% of youth population (Youth population 5 - 18 years = 57,446,000) JUDGES’ THOUGHTS Nigeria demonstrated exceptional diversity, efficiency and innovation in their GMW activities, as well as substantial efforts in engaging and collaborating with different local stakeholders including financial service providers and civil society organizations.


CYFI “Global Money Week” Award |

Zambia | Africa Lead organizations: Bank of Zambia, Securities and Exchange Commission, Ministry of Finance, Ministry of General Education, Pensions and Insurance Authority Partners: AB Bank, Banc ABC,Barclays Bank, Bank of China, Cavmont Bank, First Capital Bank, Finance Bank, Investrust Bank, Standard Chartered Bank, Stanbic Bank, Eco Bank, Zanaco, Natsave, Lusaka Stock Exchange, Madison Assets, Restless Development, Child Fund, Children International, Finca, JA Zambia, EFC, ZSIC, Laurence Paul & Associates, Indo Zambia Bank, First National Bank.

INTRODUCTION The Bank of Zambia led the Global Money Week celebrations across the country. Zambia commenced its activities four days ahead of the official opening of the Week, with a televised address by the Minister of Finance, Hon. Hon Alexander Chikwanda. The Bank of Zambia coordinated a massive Global Money Week kickoff event at the Olympic Youth Development Centre in Lusaka. The kick-off event was attended by more than 30 executives from the financial sector and 1,000 pupils from 40 schools. AN OUTSTANDING APPROACH Zambia’s Financial Sector Development Plan (FSDP) Secretariat coordinated Global Money Week activities in all provinces across

Zambia. The provincial activities included ‘Open Days’ at banks and micro-finance institutions, an essay competition on savings, Youth-toYouth Talks, Saving Accounts Opening for children and youth and theatre and drama productions. Other activities involved job shadowing, career workshops, financial literacy roadshows and sports tournaments. The week-long celebrations provided the opportunity for Zambia’s financial sector regulators to have interactive sections with the general public, particularly children and youth, on their social and economic rights and responsibilities.

• .97% of youth population (Youth population 5 – 18 years = 5,107,000)

JUDGES’ THOUGHTS Zambia demonstrated exceptional diversity, efficiency and innovation in their GMW activities, as well as substantial efforts in engaging and collaborating with different local stakeholders including financial service providers and civil society organizations.

ACHIEVEMENTS • Stakeholders: 70 • Activities: 21 • Direct: 50,000 67


| CYFI “Global Money Week” Award

Zimbabwe | Africa Lead organization: The People’s Own Savings Bank (POSB) Partners: Junior Achievement (JA) Zimbabwe, Zimbabwe Stock Exchange, MBCA Bank, Zwteens, Zimbabwe Broadcasting Cooperation, National Youth Council, Star FM, Kidzcan Association, Reserve Bank of Zimbabwe, Ministry of Primary and Secondary Education, Ministry of Finance. workshops which were aimed at raising awareness about financial literacy issues – including financial ethics, money, saving, budgeting and spending. Participating students were given the opportunity to open savings accounts and give practical lessons on how to operate an ATM. Other activities held in Zimbabwe to commemorate the week included football and network tournaments and a bazaar to promote indigenous business.

INTRODUCTION The People’s Own Savings Bank (POSB) Zimbabwe partnered with the Ministry of Primary and Secondary Education, the Ministry of Youth, Indigenization and Empowerment and other organizations to celebrate Global Money Week 2016 in Zimbabwe. Nationwide, ten different activities were held by POSB and its collaborating institutions. AN OUTSTANDING APPROACH Students in all provinces of the country were given the opportunity to participate in an essay competition on the subject of savings, and winners of the competition received various prizes. Two finalists from each province were given $50 seed money to open a Juniorsave account with POSB. This year, all POSB branches across Zimbabwe opened their doors to schools in their communities, for students to visit POSB banking halls and observe the day-to-day operations of the bank. A total of 96 schools visited POSB branches across the country during the week. The branch officials of the Bank also visited two schools in low income and rural areas to give financial education lessons to students. POSB Zimbabwe also launched a youth credit scheme 68

in partnership with the Ministry of Youth, Indigenization and Economic Empowerment. Junior Achievement Zimbabwe, in partnership with MBCA Bank and POSB, organized financial education workshops in the cities of Harare, Mutare, Bulawaya and Kwekwe. More than 9,000 students attended these

ACHIEVEMENTS • Stakeholders involved: 225 • Activities took place: 185 • Direct: 45,000 • Indirect: 2,500,000 • .99% of youth population (Youth population 5 - 18 years = 4,539,000) JUDGES’ THOUGHTS Zimbabwe demonstrated exceptional diversity, efficiency and innovation in their GMW activities, as well as substantial efforts in engaging and collaborating with different local stakeholders including financial service providers and civil society organizations.


CYFI “Global Money Week” Award |

Egypt | Middle East & North Africa Lead organization: Egyptian Banking Institute Partners: Central Bank of Egypt, Egyptian Financial Supervisory Authority, Ministry of Finance – Ministry of Education, Ministry of Youth and Sports, Egyptian Stock Exchange Authority, Banque Misr, National Bank of Egypt (NBE), Arab African International Bank (AAIB), Export Development Bank of Egypt (EBE), Housing and Development Bank (HDB), Societe Arabe Internationale de Banque (SAIB), National Bank of Kuwait – Egypt (NBK), QNB Al Ahly (QNB AA), Commercial International Bank (CIB), Credit Agricole Egypt, Barclays Bank, Banque du Caire, Cairo University, Assiut University, Ain Shams University, Beny Suif University, British University in Egypt, Together Association, Arabic Center for Services and Development, Mansoura University, Banha University, South Valley University, Monoufeya University, Alexandria University, Damanhour University different functions conducted in their banks, and they arranged a studentvisit to Talaat Harb’s museum. Other tours in the Export Development Bank of Egypt were available so university students could learn the different functions conducted in banks and their monetary processes.

INTRODUCTION This year, the Egyptian Banking Institute reached nearly 2 million children and youth through direct outreach by conducting awareness sessions in schools, universities and youth centers, and more than 50 million through indirect outreach through television, radio and media! Involving more banks and stakeholders, and building up the capacity of the organizations and the ministries through master trainings, was a key tool for disseminating financial awareness during the Week. Measuring impact and encouraging children and youth to open new saving accounts was a key indicator that EBI was focusing on throughout the Week. Entrepreneurship and employability was another main focus through implementing Training for Employment and Training for Entrepreneurship programs to 12 governmental universities under the auspices of the Central Bank of Egypt. AN OUTSTANDING APPROACH Financial literacy awareness sessions were offered for children, youth and adults. The Egyptian Banking Institute held training sessions for volunteers

and university students to become certified trainers to teach children and youth around Egypt about financial awareness and improve their financial literacy; EBI also held training sessions for several children and youth during Egypt’s World Kidney Day. Furthermore, “Shaping the Future” volunteers from Together Association provided financial literacy awareness sessions to students in several schools in Minia and volunteers from the Arabic Center for Services and Development presented financial awareness sessions to children from Ezbet El Nakhl. Other activities for children included educational games, arts and crafts, photography and essay competitions, and tours. Many different tours were arranged for school and university students during the week. Students visited bank’s dealing rooms and the stock exchange where they attended awareness sessions on financial education and learned about the operations of the stock exchange. Banque Misr opened its doors to students from Cairo University and the British University in Egypt to learn the

High-level discussions, seminars, and other educational sessions were organized for children and youth. The Egyptian Banking Institute organized visits to the local businesses for the school students to gain practical knowledge of running a business. Egyptian Banking System Model (EBSM), in partnership with EBI and the Faculty of Economics and Political Science, arranged a seminar discussing the importance of financial literacy. Cairo University Students also attended a financial awareness session hosted by the sector heads of SAIB Bank to learn the role of bank’s different sectors. Stock Exchange awareness sessions were also held for University students as well. The Egyptian Stock Exchange welcomed a number of students from the British University in Egypt (BUE), where they had the opportunity to ring the bell and learn about the role of the stock market in the Egyptian economy and its relationship with other entities.

ACHIEVEMENTS • Stakeholder: 250 • Activities: 26 • Direct: 2,000,000 • Indirect: 50,000,000 • 9.5% of youth population (Youth Population 5 - 18 = 20,854,000) JUDGES’ THOUGHTS Egypt was recognized for the outstanding reach and impact of the Global Money Week activities, the collaborative efforts and the span of topics focused on to involve and educate children and youth during the Week. 69


| CYFI “Global Money Week” Award

Iran | Middle East & North Africa Lead organization: Eghtesad Novin Bank Partners: Central Bank of the Islamic Republic of Iran

INTRODUCTION This year, Iran participated in Global Money Week for the second time through Eghtesad Novin (EN) Bank, Child & Youth Finance International’s main partner in the country. For GMW2016, all 250 of Eghtesad Novin Bank’s branches throughout the country took part in activities designed for students. AN OUTSTANDING APPROACH This year, the bank developed the great initiative to offer savings accounts with a debit card designed specifically for youth during Global Money Week, and national press covered the first children opening their own saving accounts as part of the initiative. More than 85 branches of the bank invited students to visit; here, children were taught how to use their savings account, the importance of saving and the teen card was introduced. During the visits, students learned about different departments and were familiarized with branch operations and account opening procedures. Eghtesad Novin Bank staff also explained their jobs, roles and responsibilities to the youth groups. As part of Global Money Week, children throughout Iran were able to 70

take part in Instagram photo competitions, video and writing contests on subjects as diverse as banks, money and savings. Children and youth were also provided with financial education books and information as part of the activities.

ACHIEVEMENTS • Stakeholders involved: 250 • Activities: 194 • Direct reach: 10,000 • Indirect: 8,000,000

• .0067% of population (Youth population 5 - 18years = 14,830,000)

JUDGES’ THOUGHTS Iran is recognized for the vast expansion of Global Money Week activities and outreach in 2016 as compared to 2015, which reached 1,000 children and youth directly. This is largely due to continued efforts to the participation of the Central Bank together with Eghtesad Novin Bank.


CYFI “Global Money Week” Award |

Morocco | Middle East & North Africa Lead organization: Fondation Marocaine pour l’Education Financière Partners: Ministry of National Education and Vocational training, Bank Al Maghrib (Central Bank of Morocco), Bourse de Casablanca (Stock Exchange Casablanca), Groupement Professionnel des Banques du Maroc, Fédération Marocaine des Sociétés d’Assurance et de Reassurance, Aflatoun, Association Bayti

INTRODUCTION Organized by the Moroccan Foundation for Financial Education (FMEF), the 5th edition of Financial Education Days reached more than 150,000 children and youth. AN OUTSTANDING APPROACH One of the objectives of the Week was to bring financial education closer to youth in rural areas and, this year, the participation rate there increased to reach 30%! Participants were able to experience a diverse and extensive program, including a visit to the Casablanca Stock Exchange to familiarize themselves with this institution and its role.

Over 400 banking agencies welcomed students during the Week, showing a large involvement from the banking sector in raising awareness on financial education, with 20 agencies from the Bank al-Maghrib coordinating the events. Furthermore, more than 200 banking professionals went to schools to conduct financial trainings and raise awareness about the importance of financial education and inclusion. Students were taught about money, budgeting, savings, banking and insurance products and services. In addition, a press conference on financial education was held at the FMEF to attract media attention during these Financial

Education Days.

ACHIEVEMENTS • Stakeholders involved: 410 • Activities: 603 • Direct reach: 150,000 • 1.97% of population (Youth population 5 - 18 years = 7,588,000) JUDGES’ THOUGHTS Morocco is recognized for the extensive amount of activities carried out during the Week, in addition to focus placed on Global Money Week 2016 to involve youth in real areas. Furthermore, the increased involvement of the banking sector during the Week is notable.

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| CYFI “Global Money Week” Award

Bangladesh | Asia & The Pacific Lead organizations: Daffodil International University, Bangladesh Bank, Prime Minister’s Office of the Government of the People’s Republic of Bangladesh Partners: Ministry of Education of Bangladesh, Dhaka University, British Council Bangladesh, JobsBd.com - Creating Opportunities, Dhaka Stock Exchange, NaxRo, BRAC University, American International University of Bangladesh, East West University, Dhaka College, Oxford International School, BGMEA University, ASA University, United International University, University of Liberal Arts, State University, Stamford University, ACCA Bangladesh, Hypertag Solutions, Dhaka Stock Exchange, Bangladesh Taka Museum, Mercantile Bank, EMK Center

INTRODUCTION The celebration of Global Money Week continued in Bangladesh with greater coordination and larger goals set for 2016. Daffodil International University continued its role as the lead promoter and coordinator of the nationwide program of Global Money Week in the country. The celebrations were patronized by the Ministry of Education, supported by Bangladesh Bank (the Central Bank of Bangladesh) and the Prime Minister’s Office of the People’s Republic of Bangladesh. Compared to previous years, the GMW organizing committee in Bangladesh took greater strides to ensure that the outreach to children would go beyond the capital, Dhaka. The committee organized a structure wherein youth leaders and coordinators would be present for each of the eight divisions of Bangladesh involved in expanding the reach of Global Money Week across the country.

AN OUTSTANDING APPROACH GMW 2016 in Bangladesh included a wide range of activities such as a press conference with major media agencies in the country, a formal inauguration, ringing of the Dhaka Stock Exchange Bell, workshops and seminars to create awareness, competitions for kids about the importance of savings, essay writing contests, post-card making exercises, answering the speech bubble “I save because…”, industry visits for kids to see what future jobs they may pursue, a visit to the money museum, a learning-through-doing program with banks as well as drama and arts initiatives that creatively expressed and taught money awareness and visits to various educational institutes to foster cooperation amongst schools for the empowerment of children and youth as economic citizens. 72

A special focus on vulnerable children was included in this year’s Global Money Week in Bangladesh through coordination between the Ministry of Education and youth leaders and coordinators that have travelled and reached out to the remote and marginalized areas, especially to young people living on the streets. Unique to Bangladesh were its efforts to creatively promote savings in a smart way. The country was promoting how smart savings could be achieved not only through thriftier spending, but also through changes in young people’s and the public’s everyday financial attitudes and behaviors. This was promoted by a campaign shown through social media and posters spread across schools in Dhaka between 14 - 20 March. Each day focused specifically on one way of smart saving to another, including saying no to water waste, food waste, overusing electricity, avoiding vices and actually starting to save money. Furthermore, to promote and encourage young Bangladeshis to become more proactive in reshaping their financial future, children and youth who demonstrated great potential as young savers and future entrepreneurs were given special recognition. This is in addition to the poster-making competition that was done across the Dhaka. GMW 2016 in Bangladesh capped off by a Grand Closing of the global celebrations with government delegates, industry executives, and various other stakeholders. The honorable guests included the Secretary of the Ministry of Education, the Chief Representative from the Bangladesh Bank, and the Director-General of the Office of the Prime Minister. This is in addition to various high-level stakeholders from multiple sectors within the country,

along with a large number of young leaders, who gathered to emphasize the importance of developing financial literacy, citizenship and entrepreneurship skills from a young age.

ACHIEVEMENTS • Stakeholders involved: 59 • Activities: 31 • Direct: 800,000 • Indirect: 2,000,000 • 1.92% of the child population (Youth population 5 - 18 years = 41,538,000) JUDGES’ THOUGHTS Bangladesh demonstrated exceptional diversity, efficiency and innovation in their Global Money Week activities including a number of activities promoted across various national media platforms that included radio, TV, and print media. Moreover, events were organized that encouraged partners and guardians to speak directly with children about money matters. There was also substantial collaborative effort with various stakeholders, a key defining factor for Bangladesh to ensure the celebration of Global Money Week this year despite a political instability that has impacted the country’s financial regulation.


CYFI “Global Money Week” Award |

Brunei Darussalam | Asia & The Pacific Lead organization: Ministry of Education Partners: Ministry of Finance, Autoriti Monetari Brunei Darussalam, Brunei Association of Banks, Brunei Insurance Tafakul Association and primary schools (106).

INTRODUCTION Global Money Week in Brunei was led once again by the Ministry of Education, in partnership with other leading governmental authorities and financial services associations including the Ministry of Finance, Autoriti Monetari Brunei Darussalam (AMBD), Brunei Association of Banks (BAB) and Brunei Insurance Tafakul Association (BITA). The variety of activities in Brunei were quite impressive, including visits to various financial institutions, money museum visits, children sessions with Certified Financial Planners and nationallylaunched competitions on postermaking, script-writing and theater. AN OUTSTANDING APPROACH As part of the unique competitions developed to involve young people in Global Money Week was the Financial ExploRace. The Financial ExploRace (a kid’s competition based on The Amazing Race, focusing on the topic of a person’s life stages and the financial responsibilities that come with it) was launched and televised nationally. Furthermore, Financial Education Lectures and Financial Planning Talks were delivered by Certified Financial Planners from Bank Islam Brunei Darussalam and Baiduri Bank. This talk aimed for students to be

financially equipped in managing their finances when starting their new life stage. The talk also allowed students to learn about money matters through interactive and hands-on activities, and was extended to art teachers who were to lead a special lesson for students participating in the poster competition. Building on these talks, an art and poster competition was organized. Year 5 students created and submitted posters on the theme: “I save because...”, where the top 10 students were selected as winners and received prizes. The winning posters were showcased during the prizegiving ceremony on 17 March 2016. Along these lines, theatre and plays with kids were also encouraged through the launching of a drama competition. Year 9 students challenged themselves to create 7-minute skits relating to money matters while incorporating the following words and concepts: budget; save; future; financial planning; loans; credits and needs vs wants. After the preliminary round, the top three skits were announced as finalists, where they competed for 1st, 2nd and 3rd place at the prize-giving ceremony.

organized by the Ministry of Education and the AMBD. A team of three Year 10 students competed with other teams in this life-size board game. This game involved students going through real-life situations, e.g. going to university, getting a job, getting married, having children, buying a house, buying a car, paying for insurance, etc., and the winning team received a cash prize. In addition to financial education, the Ministry of Education also launched an employment workshop for students this year. This activity involved the Ministry of Home Affairs, QAF Group, Wing it!, ARMTRIX and Sweet as Sara. QAF Group’s human resources manager discussed about the hiring processes of employers and later the three entrepreneurs talked about their experience in starting a business and why they chose entrepreneurship over a full time job.

ACHIEVEMENTS • 14 stakeholders involved • 122 activities took place • Direct: 1,700 direct reach • Indirect: 2,000 indirect • 1.8% of population (Youth population 5 - 18 years = 93,000) JUDGES’ THOUGHTS Brunei is being recognized this year for bringing together various stakeholders, especially financial service providers, to demonstrate exceptional diversity, efficiency and innovation in their Global Money Week activities. In addition, innovation and creativity for activities such as the Financial Explorace continues to set Brunei apart as a creatively innovative country during Global Money Week.

Banking on more fun this year, a life-size board game was also 73


| CYFI “Global Money Week” Award

Philippines | Asia & The Pacific Lead organization: Central Bank of the Philippines Partners: Department of Education, Bankers Association of the Philippines, Bank Marketing Association of the Philippines (who coordinated with 5 commerical banks), Commission for Filipinos Overseas, Paglaum Multi-Purpose Cooperative, Children International, Aflatoun, Natcco (Aflatoun partner) As a highlight, the Philippines nationally launched the Money Box challenge and started the “Bank-onWheels for Children” program where multiple armored trucks went around the country converting to mobile branches in schools both to open bank accounts and to accept deposits. Furthermore, the Global Money Week activities initiated and carried out through a number of civil society organizations included recycling campaigns, art projects, a motorcade, skits, games and more.

INTRODUCTION The activities in the Philippines have ranged from civil society organizations leading in-class sessions, banks organizing school or bank visits and multiple Central Bank of the Philippines project teams going to remote areas of the Philippines to conduct activities. AN OUTSTANDING APPROACH Launched during Global Money Week, Bangko Sentral ng Pilipinas (BSP) organized sessions with DepEd K-to-12 curriculum trainers, representing each regional and divisional office in the country, about the BSP-DepEd Financial Education program. The objective of the sessions was to train public school teachers on integrating and enhancing financial lessons in the public elementary school curriculum contained in the BSP-DepEd Teaching Guides for Financial Education. To engage children, visits to the Bangko Sentral ng Pilipinas Money Museum were organized, which houses BSP’s collection of currencies from the Philippines and those of other countries. A savings campaign and Money Box Challenge was also organized, where the “Best Decorated” box was awarded with a certificate and a cash prize to match 74

their savings. Moreover, the highest individual savers were also given awards and BSP Tandang Sora commemorative coins. BSP also collaborated with SCB to take public school children on an educational trip: Grade 5 students of Pembo Elementary School in Makati City were treated to a field trip to receive a brief orientation on basic banking processes and concepts. To add to the celebrations, Bangko Sentral ng Pilipinas coordinated a video conference between Grade 6 students of San Ildefonso Elementary School, in Bulacan and Russian students, on creative ways to save and earn money while learning about each other’s savings habits, money management skills and culture. Philippine National Bank (PNB), together with the largest media conglomerate in the country (ABSCBN Lingkod Kapamilya Foundation, or ALKFI), undertook a financial education project entitled “Young and Empowered Students for the Philippines” (YESPh), which motivated top savers with awards and cash prizes credited directly to their savings accounts. In addition, PNB also brought their “Bank-on Wheels” to various schools, an armored truck converted into a mobile bank branch.

ACHIEVEMENTS • 9 Stakeholders involved • 36 Activities took place • 20,000 direct reach • 100,000 indirect • 0.703% of population (youth population 5 - 18 years = 28,424,000) JUDGES’ THOUGHTS The Philippines is recognized for its outreach and creativity during the Week. In addition to reaching out to children, the Central Bank of the Philippines also launched the teacher training program during Global Money Week as they transition to a new primary school education system. This helped ensure that strong integration of financial education into the national curriculum is maintained. Also impressive with the Philippines this year was the stronger and more diverse engagement that the Central Bank was able to secure from the country’s banking sector – including the launch of a Bank on Wheels program.


CYFI “Global Money Week” Award |

Bangladesh GMW2016 75


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❺ Global Youth Entrepreneur Award GLOBAL FINALISTS & THE WINNER Tamer Taha, Egypt “Yomken.com” Kamal Alhmoud, Jordan “Aster Company” Charles Immanuel Akhimien, Nigeria “MOBicure” Oluwaseun Sangoleye, Nigeria “Baby Grubz Nigeria” THE WINNER: Seul Ku & John Kye, Uganda “SPOUTS of Water” Juma El-Awaisi, Anwar Almojarkesh, Amr Wanly, UK “Braci”

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| Global Youth Entrepreneur Award

Tamer Taha Startup Name: Yomken.com | Country: Egypt | Age: 28 Partners: Asmaa Kamel (Programme Manager - Egypt), Khaoula Behi (Programme Manager - Tunisia), Yasmin Hamdy (Content and Solutions Specialist), Hassan Farahat (Web Developper and Designer), Shadi El-Hosseiny (Translator and Communications) and Hanen Samet (Project Coordinator - Tunisia)

INTRODUCTION Yomken.com is an online consulting platform that connects government, local businesses, farmers and NGOs together to solve challenges faced by their industry through crowdsourcing Research and Development efforts. The business is modeled on connecting ‘Solution Seekers’ to ‘Problem Solvers/innovators’, with the revenue model based on taking 10% of the reward as operational fees.

it is more flexible, affordable, localized and faster than international competitors such as Innocentive, NineSigma and Openldeo.

Since its launch in 2012, Yomken.com and its unique ‘CrowdSolving’ model has expanded operations into 4 countries in the MENA region, with offices in Egypt and Tunisia.

Yomken.com has created 175+ job opportunities directly and indirectly by connecting ‘Solution Seekers’ to ‘Problem Solvers/innovators’ and commercializing solutions so that they can be replicated. Yomken.com aims to cover 12 countries in the next 3 years, achieve a 20% return on investment and partner with a regional African partner. The opportunities for growth and diversification within Yomken.com are abundant.

AN OUTSTANDING APPROACH Yomken.com is the only platform in the MENA region that specializes in crowdsourcing ideas and solutions for the industrial and societal challenges using its own ‘CrowdSolving’ model which provides affordable Research & Development solutions. As a platform,

ACHIEVEMENTS • 10 paid employees, 8 of which are under 30 years old. • Last year, Yomken.com made a net profit of US $14,290. • The Yomken.com network consists of more than 10,000 innovators in different fields.

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• On average, 5 solutions are offered to every challenge on the platform.

JUDGES’ THOUGHTS Yomken.com is an impressive, scalable venture and its unique niche is evidently needed in the market. The innovative website illustrates the power of thinking outside the box to solve societal challenges in a financially sustainable manner. The ‘crowdsolving’ approach unlocks a variety of new opportunities for businesspeople in the MENA region.


Global Youth Entrepreneur Award |

Kamal Alhmoud Startup Name: Aster Company | Country: Jordan | Age: 26 Partners: Abed Alrahman Abu Roumi (Co-Founder & COO), Hazem Khawaldeh and Abdallah Khawaldeh (Operations)

INTRODUCTION To address air pollution and the lack of green spaces in Jordan, Aster was created as a social startup company in in 2012. It is the first startup company in the Middle East to provide the service of planting rooftop gardens on residential and commercial buildings. The company also promotes the planting of fruits and vegetables as a way to promote sustainable consumption. The company has several revenue streams, including the direct selling of the rooftop gardens, selling the rooftop gardens 3D designs, the monthly and annual maintenance subscriptions to take care of the roof garden after selling it, as well as the funds that we receive from the private sector and government for community-based programs.

AN OUTSTANDING APPROACH Aster is more than just a landscaping company: it is the only regional

specialist in rooftop gardens and uses sophisticated techniques to isolate and prevent water leakages. The company’s unique and innovative approach saves large volumes of water, and uses solar power for lighting. Aster’s project portfolio has been growing successfully for the past three years, including residential and commercial projects, and incorporating new technologies in our service offerings including 3D designs. In the coming years, Aster hopes to expand to new customers outside of Amman. The company shall do this by increasing the size of the operational team, and by building partnerships with corporates and NGOs, to reach to all the cities of Jordan by 2019.

awareness lectures for students in schools on how to leverage agriculture and its importance to the Jordanian society. • The company received the Injaz Best Startup Company Award 2016. • Aster has worked on more than 90 successful projects across Amman.

JUDGES’ THOUGHTS Aster brings a novel concept to Jordan, and its focus on the hot topic of ‘environmental sustainability’ makes the company very promising as a business solution. Above this, Aster utilizes the unique agricultural knowledge of the the team members in a way that is relevant to their community, and deals with local concerns of air pollution while providing additional economic and aesthetic benefits to their customers.

ACHIEVEMENTS • Aster made a net profit of US $27,565 last year. • The team gave more than 40 79


| Global Youth Entrepreneur Award

Charles Immanuel Akhimien Startup Name: MOBicure | Country: Nigeria | Age: 28 Partners: Emmanuel Owobu

INTRODUCTION MOBicure is a social enterprise that provides mobile technology solutions to help solve health issues plaguing Nigeria and other developing countries such as poor immunization coverage, high maternal and child mortality and poor health access. The mobile health (mhealth) startup creates solutions that make use of phones, tablets, SMS, apps, Interactive Voice Recordings (IVRs) and videos. MOBicure’s flagship product is called MỌMI (meaning “my child” in Yoruba language). OMOMI is a mobile platform consisting of a mobile app and an SMS service which enables mothers to easily monitor their children’s health at the touch of a button.

AN OUTSTANDING APPROACH Currently, there is no other mobile health solution or product that comprehensively covers the health of children under 5 years old in Nigeria. 80

Even though some other child m-health tools (web and mobile apps) do exist in other countries, none is quite as all-encompassing as the OMOMI app, which can reach every mobile device either through the web, SMS or as an app.

• The OMOMI platform has given over 11,000 mothers access to life-saving health information. • Young people are at the core of MOBicure, as their policy is to ensure that at least 80% of its employees are below 30 years old.

The huge target market of the OMOMI app and SMS service guarantees a steady revenue stream which will make the product self-sustaining moving forward. Over the next 5 years, MOBicure hopes to bring about a paradigm shift in the health care system of Nigeria and the rest of the developing world through the use of mobile technology which will improve and save lives by making healthcare more accessible.

JUDGES’ THOUGHTS Maternal health is one of the biggest threats to women in developing countries, and MOBicure addresses this in Nigeria with a smart and accessible solution. The use of technology as well as MOBicure’s engagement with customers show that the startup has already made an impressive impact, and furthermore has high growth and job-creation potential.

ACHIEVEMENTS • OMOMI emerged as one of the winners of the 7th World Summit Youth Award (WSYA) held in June 2015. • 15 paid employees, all of which are under 30 years old.


Global Youth Entrepreneur Award |

Oluwaseun Sangoleye Startup Name: Baby Grubz | Country: Nigeria | Age: 30 Partners: Bolanle Alabede (Director of Marketing & Sales)

INTRODUCTION Baby Grubz Nigeria works to reduce malnutrition in Nigerian children by manufacturing and increasing access to 100% natural infant meals and healthy snacks for children that are made from locally grown grains, fruits and vegetables. There are currently 11 different Baby Grubz products available, and the brand reaches 14 different states within Nigeria, using an exclusive distribution model which supports women in providing financially for their families. Beyond this, the business also educates Nigerian mothers about nutrition through webinars and training. Their latest range, “Tree to Table”, which is adaptable to the tastes of picky eaters, has a shelf life that is 12 months long.

AN OUTSTANDING APPROACH Baby Grubz is not just another baby food product. It is clear that Seun and Bolanle are passionate about targeting the issue of nutrition as they

are also actively involved in educating their target market about the product and the problem it is trying to solve through webinars and workshops. Their social impact is also evident in their distribution model, as they equip women with the skills to produce the product, interact with the different suppliers within states in Nigeria, and make sure that the Baby Grubz reaches the shelves and consumers. There is potential for Baby Grubz to expand their production to 5000 units per month, which would increase the sales revenue by 300%, that has the potential to employ 150 more people, and reach over 5,000 Nigerian children. It is clear that the unique fusion of social impact and monetization will bring even more success for Baby Grubz in the future.

• Provided micro-nutrient fortified meals to over 1,500 children every month. • Provided jobs for almost 50 women using their unique distribution channels. • 70 000 Nigerian mothers have accessed nutrition education in some form.

JUDGES’ THOUGHTS What is most exciting about Oluwaseun’s work is the impressive scale that Baby Grubz has reached in a relatively short space of time, with very little resources. The enterprise demonstrates large social impact through the way it engages with mothers within her community and beyond. The impressive growth that Baby Grubz has experienced seems to be only a glimpse of the success that lies ahead for Oluwaseun.

ACHIEVEMENTS • Baby Grubz has improved the nutrition of over 20 000 Nigerian children in the last year. 81


| Global Youth Entrepreneur Award

Kathy (Seul) Ku & John Kye Startup Name: SPOUTS of Water | Country: Uganda | Age: 25/26 Partners: Maya Bretzius (COO), Rebecca Liebschutz (Sales Manager), Paul Matovu (Social Programs Manager), Celeste Havener (Systems & Evaluation Manager), Noreen Bwabye (Production Manager), Michale Goldberger and Ronald Tuhirwe (Marketing Managers) process to the sale of a good quality product which lasts two years.

AN OUTSTANDING APPROACH SPOUTS is the only local manufacturer of water filters and uses a contextually integrated distribution method to provide filters to families of different income groups. The Purifaaya itself is superior to other treatment methods even though it is more affordable, and is also culturally accepted in Uganda where water is traditionally stored in clay pots. SPOUTS aims to scale up in the next few years, and has begun planning the construction of a new factory that will be capable of producing 4,000 water filters per month. The company is also expanding its sales and marketing to reach more customers across Uganda and several international locations including South Sudan and the Democratic Republic of Congo. Moving forward, SPOUTS also plans to expand into East Africa, and develop a premium model for high-end consumers.

INTRODUCTION Over 10 million Ugandans lack access to clean water, resulting in negative health and economic consequences such as water-borne diseases and costs associated with finding clean water sources. SPOUTS was founded in 2014 to target this problem by providing an affordable and effective market solution: The Purifaaya. The Purifaaya is a ceramic water filter manufactured in Uganda, and sold for only US$20. The raw materials of the product come from Uganda, ensuring that the business model is sustainable from the beginning of the production 82

ACHIEVEMENTS • SPOUTS has provided safe water access to over 55,000 Ugandans. • The Filters for Schools program has delivered over 1,000 filters to refugee settlements. • SPOUTS currently employs 40 people, with 30 employees being younger than 30 years old. • Last year SPOUTS made a net profit of US $19,554. JUDGES’ THOUGHTS SPOUTS is eye-catching as a startup because it deals with a very critical issue: access to clean water. Added to this, the business viability of the Purifaaya, which comes from the product’s affordability and relevance to the target market, means that SPOUTS has the potential to expand to a large scale and be very successful.


Global Youth Entrepreneur Award |

Juma El-Awaisi, Anwar Almojarkesh and Amr Wanly Startup Name: Braci | Country: United Kingdom | Age: 24/29/26 Partners: Bolanle Alabede (Director of Marketing & Sales)

INTRODUCTION Braci is a sound recognition technology that enables people who are deaf, partially deaf, or even those who are listening to music, to be aware of the sounds around them. The technology recognizes and analyzes sounds from the environment, converting them into notifications displayed on a smartphone, smartwatch or other portable device. Braci is capable of detecting an extensive variety of indoor and outdoor sounds, including fire alarms, door bells, landlines, and even a baby crying. The customers of Braci include local authorities, housing associations, who see the product as an affordable market solution. Individuals can also purchase the application directly for personal use.

AN OUTSTANDING APPROACH Many existing products in the market

use older technology that rely on installation of receivers and transmitters for each sound. Braci, on the other hand, has created a tool that can be downloaded onto a smart device and converts that device into a ‘smart ear’ by allowing it to recognize sounds and notify the user. This is all due to the digital fingerprinting technology created by Braci. With projections for the next 2-3 years based on signed agreements with key partners, Braci is looking to further recruit and expand the team in different geographical regions, including Europe, where an office has just been opened. Potential options for development also include entering into sectors that require similar technology, such as the automotive industry. Braci has also managed to develop 2 other tested applications that are starting to generate a small revenue and are on their way to being market-ready.

ACHIEVEMENTS • Braci has received several awards both nationally and internationally, some of which include AT&T Best Design, CE50, Creative England Future Leaders 10, and Nominet Trust 100. • There are currently over 15,000 users of the application. • Last year’s net profit for the business was US $11,000. • Braci has received seed investment of approximately US $600,000. JUDGES’ THOUGHTS Braci is a prime example of how innovation can improve old technologies to make them more affordable and easier to use. Their plans to expand into larger markets illustrate the versatility of the product and its relevance to customers who may have hearing impairments.

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❻ Outstanding Youth Economic Citizenship Award GLOBAL FINALISTS & THE WINNER THE WINNER: Ieva Laila Kalnina (17 years), Latvia “Euro run” Victoria Adeola Popoola (16 years), Ganyiyat Adeseun Jubril (15 years), Nigeria “BizKidz” Victoria Akinfolarin (14 years), Victoria Adeola Popoola (16 years), Nigeria “BizGame” Victoria Adeola Popoola (16 years), Nigeria “Waste to Wealth” Jose Adolfo Quisocala Condori (11 years), Peru “Financial Inclusion with Education and Social and Environmental Responsibility” Bagyema Benjamin (13 years), Uganda “Basic Financial Literacy for Children”

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Ieva Laila Kalnina Program Name: Euro run | Country: Latvia | Age: 17 Partners: The Bank of Latvia

INTRODUCTION Euro run is an educational project for children 9-12 years old. The project started a few years ago when 3 students from Ieva Laila Kalnina’s school designed the perfect lesson for children about the new Euro currency in Latvia. Within 40 minute lessons, the children learn about money and its safety and participate in the Euro run competition. The lessons include different methods that encourage children to learn about the differences in paper bills. It also includes an overview of safety features on money, such as how to distinguish real bills from fake ones, what to do when they have recognized a fake euro bill, and even why it is wrong to make false euro bills and how it can be bad for society. AN OUTSTANDING APPROACH The project got more extensive and effective because new students joined the team and made the lessons 86

more effective and new partners showed how these lessons are useful in life. They travelled through Latvia teaching these money safety lessons in schools. In addition, The Bank of Latvia organized an event for the best Euro run players in the country. The top 4 students from Latvia had a chance to make a team of classmates and participate in the Euro run final of Latvia. The Euro run team spent the whole year teaching the financial educational lessons, and helped the Bank of Latvia organize the Euro run finals, with Ieva Laila Kalnina as the host of the event.

ACHIEVEMENTS • 62 schools reached with 3,080 children educated. • 114 lessons taught. • 17 seminars held for 355 teachers. JUDGES’ THOUGHTS The project members have been able to include visual materials, class

discussions and competitions in just 40 minutes of fun lessons with the help of Bank of Latvia. The outreach has been impressive and the feedback from schools has been positive.


Outstanding Youth Economic Citizenship Award |

Victoria Adeola Popoola & Ganyiyat Adeseun Jubril Startup Name: BizKidz | Country: Nigeria | Age: 16/15 Partners: Initiated with the support of House of Entrepreneurship Education and supported by SAGE Nigeria

INTRODUCTION BizKidz is a board game that teaches kids how to save money, invest, and start a small scale business. It focuses particularly on backyard poultry keeping and the sale of prepaid phone cards. BizKidz teaches children how to be in control of their financial lives even at early stages in life, promoting the importance of financial literacy and financial inclusion. Children who play BizKidz develop financial responsibility, positive savings behavior and greater business orientation. AN OUTSTANDING APPROACH The game is usually played by 2-4 primary or early secondary school students. A player that has the highest amount of money at the end of the game is declared the winner, having used the amount of money given at the beginning of the game productively and judiciously. It comes in a very attractive design and the concepts

taught in the game are very simple and direct to stimulate the interest of youths in entrepreneurship and financial management. A pack of the game is produced at the rate of (500 naira) $3 and sold at 100% profit at the rate of (1,000 naira) $6. This is possible because the money used in transactions within the game come from paper cut-offs from local printing presses. By making a use of this paper waste, the game becomes increasingly environmentally friendly.

ACHIEVEMENTS • Several pre-test and post-test analyses have been done with the help of House of Entrepreneurship Education. The study discovered that with the introduction of BizKidz to the schools (about 50 schools with an average population of 1,000), more than 50% of the students are now more knowledgeable and confident about savings, financial literacy and other rudimentary aspects of starting

small scale businesses. • The BizKidz game has reached over 50,000 students.

JUDGES’ THOUGHTS BizKidz promotes financial and entrepreneurial competencies in a simple and direct manner that is easily understood by the students. It teaches them that they can also produce simple items on a small scale level and generate income to be more selfreliant. The project is completely youth oriented, which involves direct interaction among the youths on how they can continue to empower themselves now and in the future. The paper used for the game is environment friendly and keeps the costs low. The impact of the game keeps spreading because students who purchase it play it with friends who do not own the game.

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Victoria Akinfolarin & Victoria Adeola Popoola Program Name: BizGame | Country: Nigeria | Age: 14/15 Partners: 5+ young people collaborated with ICT companies and their own developer.

INTRODUCTION BizGame is a financial literacy/ financial inclusion/entrepreneurship mobile app. It teaches youths about entrepreneurship, money management, how to start a small scale business and be self-reliant. It also teaches about the stock exchange, banking and insurance for effective business management. It is a question and answer app that motivates the player to play more to hit the maximum onscreen bonus of 2 million naira. In the app, players are encouraged to start a small scale business that could grow overtime so that they could be self-reliant and subsequently become employers in the future. AN OUTSTANDING APPROACH The members of the team joined a group of young students they met at a Business Pitch, presenting the app which they designed and teaming up to work together on BizGame and other projects. The members of the team felt that it was better to be self-employed in the future than to be a job seeker, which is why they encouraged each other to learn more about finance. Most of the information they found, was retrieved from various background researches on the internet, text books, journals and some seminars they attended. They decided on a game in app form 88

because they felt this would interest children and youth the most. The BizGame is the 4th app in the form of a game developed by the team. All the members are members of an NGO called House of Entrepreneurship Education.

ACHIEVEMENTS • The project has been taken to many schools in Kaduna and Abuja and the response has been encouraging. • The BizGame gets feedback from schools that started Entrepreneurship clubs, some of which are now planning to develop apps of their own. • BizGame is an award winning mobile

app in Nigerian entrepreneurship competitions.

JUDGES’ THOUGHTS The BizGame provides an interactive learning tool for youth, allowing them to start taking control of their future in a creative and innovative manner. The project was worked on by young people who have a passion to influence others in a way that appeals to their peers, which is why it successfully empowers children and youth in many ways.


Outstanding Youth Economic Citizenship Award |

Victoria Adeola Popoola Startup Name: Waste to Wealth | Country: Nigeria | Age: 16 Partners: For Waste to Wealth, Kaduna State Waste Management Board

INTRODUCTION Waste to Wealth is a social enterprise that turns waste into bags, jewelry and other fashion accessories. These products are designed to be sold to various members of the public. Victoria employs the youth and provides training to housewives, single mothers and widows so they can earn a livelihood. Victoria is planning to take the Waste to Wealth project to other parts of the country, especially the states that are more affected by conflict and where most of the youth are out of school. AN OUTSTANDING APPROACH The project is innovative because it aims at breaking the cycle of poverty in vulnerable areas by using waste management as a key factor to generate wealth in a sustainable and environmentally friendly way. ACHIEVEMENTS • Waste to Wealth won the award for the Best Environmental project at a SAGE national competition. JUDGES’ THOUGHTS Waste to Wealth has a low threshold, everyone can engage in the project and get revenue for themselves. It trains other youths in the community and removes waste from the environment to make the communities more livable. It is an accessible project that can be taken up by many other communities, states and countries all over the world. It makes youth embrace entrepreneurship in an innovative and creative manner using locally available materials that are mostly free to access.

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Jose Adolfo Quisocala Condori Program Name: Financial Inclusion with Education and Social and Environmental Responsibility | Country: Peru | Age: 11 Partners: Local Government of the provincial city of Arequipa , NGO “humanizes”, the “Thunderbird” University of the United States, “Ekpapalek” organization and specialists from private companies such as Bin Pan, local universities, the Banking Insurance and AFPs, local financial institutions

INTRODUCTION The program consists of teaching children and youth financial education and “free” enterprise practice through experiential methods, thus developing financial literacy and environmental responsibility amongst young people. Through workshops and games, children and youth learn about the value of money, know the main financial products that are offered by local banks (savings, credit, capital investment and insurance), and learn how to make a business plan. Every Saturday, specialists from banks, credit unions and civil society organizations are invited to teach about important issues in the formation of financial capability: 1. Financial Education 2. Associations and Cooperatives 3. Environmental Management and Leadership 4. Volunteerism and Social Responsibility 90

AN OUTSTANDING APPROACH The program involved direct speeches, workshops and gaming to educate and motivate children and youth to become empowered economic citizens and to break the poverty cycle in a fun, efficient and innovative way. Because of the team of supporting professionals, the project has been able to form alliances with local governments, private companies, schools and media. ACHIEVEMENTS • The initiative has reached schools, media and industry fairs throughout the year promoting financial education and a savings culture for young people to overcome poverty. • A special Cooperative Bank has been instituted where children are the customers and put into practice what they have learned. • The project has reached more than 2,000 children and 500 youth, who have received financial education workshops and participate actively in

the financial products of the youth bank. • Indirectly, the project influences the adult population. Because of their close relationship with the children, parents are actively involved in the initiative.

JUDGES’ THOUGHTS The initiative has contributed to poverty reduction through savings, reducing hunger, protecting the environment and preparing financially responsible and entrepreneurial citizens for the future. The program promotes financial education for children and youth, allowing them to put their lessons into practice by having their own bank designed for their needs. The project has grown rapidly and is expanding its educational services to more cities in Peru. In addition, the project is able to sustain itself by collecting donations from local businesses.


Outstanding Youth Economic Citizenship Award |

Bagyema Benjamin Startup Name: Basic Financial Literacy for Children | Country: Uganda | Age: 13 Partners: Rotary Clubs in Uganda, Bank of Uganda, German International Development Organization (GIZ), Ministry of Education Uganda

INTRODUCTION Bagyema Benjamin speaks publically to groups of young people (and sometimes adults!) about the practicalities and importance of financial literacy. He speaks about different methods in which kids can get money to save, which sources are not appropriate and how to keep their savings and valuables secure. He teaches about the importance of setting financial goals, academic goals and life goals that can be achieved through proper planning and financial responsibility. The Bank of Uganda organised a Financial Literacy Essay Competition for schools as part of their 50th Anniversary celebrations and Benjamin was invited to speak at the Awards Ceremony at Nakasero Primary School in July. The Rotary Club has also invited Benjamin to speak at their business meetings and interact with the children of the Rotary Club members.

AN OUTSTANDING APPROACH He has developed a simple recording system that enables children to keep track of their savings both at home and at the bank. The financial lessons take them through the process of opening bank accounts and teach children how to develop confidence to visit banks in pursuit of their savings. He also uses his own life story to teach about investments and money matters with children. ACHIEVEMENTS • Parents are now keenly helping their children to develop a saving culture in a country which has the lowest saving rate in Africa. • Financial institutions are becoming increasingly interested in coming on board and developing Child Friendly banking products in the country. • Media houses are following Benjamin’s story very keenly and using it to confirm the positive benefits of financial inclusion for young people.

JUDGES’ THOUGHTS The Basic Financial Literacy for Children project is unique and has been ground breaking. It has encouraged saving money using a structured system and has developed a simple and easy recording method that enables kids to keep track of their saving. In addition, Benjamin has become an accomplished motivational speaker on the subject and is one of the only children of his age group in Africa who writes a regular blog (http://finance4kidsuganda.blogspot. nl/) on basic financial literacy, using his personal testimony and experience to train and inspire others.

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Poverty is a global challenge; It has many enduring effects on people, their communities and their countries. CYFI sees that the key to fighting poverty is for people to learn how to manage and handle money and have the confidence, knowledge and responsibility to spend and earn it responsibly. This must start from childhood. To address this CYFI has partnered with thousands of organizations in 132 countries around the world - from banks, to governments, to NGOs, to academics – you name it! Together, they work to create policies and programs that make children and youth able to learn about money, have access to a bank account, develop entrepreneurial skills and, most importantly, to believe in themselves. Our work seeks to reshape financial systems for children and youth. In celebrating the incredible efforts of those working to empower young people, the Global Inclusion Awards create awareness and a call to action for individuals, communities, institutions and organizations alike to align interests and strategies for creating far-reaching social impact. After just 5 years of working to empower young people, CYFI has contributed to international platforms such as the G20 Global Partnership for Financial Inclusion (GPFI), hosted a highlevel stakeholders meeting held at the UN in New York, and is recognized as one of the world’s Top 50 NGOs by Geneva Global.

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Global Inclusion Awards Report 2016