Building Smart Money Kids in Cameroon: Prudence Foundation, Prudential Beneficial Life Insurance, and JA Africa Expand Cha-Ching Program

Douala, September 23rd – Prudential Beneficial Cameroon under the wing of the Prudence Foundation is delighted to announce their partnership’s expansion into Cameroon to introduce the Cha-Ching Program tabled by their Junior Achievement (JA) Africa arm. This program focuses on teaching financial literacy to primary school learners aged seven to twelve, encouraging them to apply critical thinking in managing their money through the concepts of Earn, Save, Spend, and Donate in their daily lives.

This expansion marks a grand step in the collaboration of Prudential Beneficial Life Insurance and the initiation of JA programming in Cameroon, enabling JA Africa to pilot the Cha-Ching program in Douala. The initiative aims to reach 1,500 students from 15 schools, facilitated by 60-trained teachers.

Since 2016, the Prudence Foundation has been working with JA Africa to implement the Cha-Ching program in various African countries. Starting as a pilot project in Ghana, it has grown to serve six countries, including Côte d’Ivoire, Ghana, Kenya, Nigeria, Uganda, and Zambia, with plausible impacts of over 20,000 students gaining valuable financial knowledge and life skills.

During the program launch, Handsome Brain Nkwenti, CEO of Prudential Beneficial Insurance, stated, “Primary education is the foundation and thus it’s of great importance children are taught the basics of financial literacy to prepare them to be better leaders of tomorrow.”

Fisla Mboli, Brand, Marketing & Communications Manager at Prudential Beneficial Insurance, added, “Back in the days some our parents struggled due to lack of basic financial knowledge so as a way to give back to our community, the Prudence Foundation is offering this to our children.”

Simi Nwogugu, CEO of JA Africa, said, “I am excited about the launch of the Cha-Ching Program in Cameroon, and the growing partnership between JA Africa and Prudence Foundation. 20,000 and over children in classrooms and millions more through the Cha-Ching Money Show with Adanna and Emeka, have directly gained financial literacy with a rippling effect that will build stronger communities for us all. Through the generous support of Prudence Foundation, we are lighting the path to financial literacy and empowerment for young Africans.”

An OECD report titled “Improving Financial Literacy” underscores the importance of exposing children to financial concepts early in life. This exposure helps them understand the role of financial institutions in society, manage their finances, and plan for the future, ultimately leading to economic empowerment.

The collaborative efforts of JA Africa, Prudence Foundation, and Prudential Beneficial Cameroon dedicated to making a lasting impact on the financial well-being of young people in Cameroon is a commendable move and timely. Through the Cha-Ching Program, students will gain practical knowledge and skills that will benefit them throughout their lives.

About JA Africa:

JA Africa is one of Africa’s largest and most impactful youth-serving NGOs. JA Africa’s mission is to prepare Africa’s youth for the future of jobs. Through the delivery of hands-on, blended learning in financial literacy, work readiness, and entrepreneurship, we empower young people to grow their entrepreneurial ideas, hone their work skills, manage their earnings, and secure better lives for themselves, their families, and their communities. JA Africa has a presence in 16 countries in sub-Saharan Africa and collectively reaches over 390,000 youth in more than 3,000 schools each year. Learn more at www.ja-africa.org

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