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June 26th 2017- Prudential plc is expanding the Cha Ching financial literacy programme, in partnership with Junior Achievement Africa to Kenya, Uganda and Zambia, where Prudential and JA (Junior Achievement) have joint footprints. The programme launches in all three countries next month, with a goal of jointly reaching 1,500 primary school students.
This multi-country expansion builds on the successful pilot of Cha Ching in Ghana in 2016, during which students learned the essential financial concepts of earn, save, spend and donate, to make wise money management decisions. In Kenya, Zambia and Uganda, only 38%, 40% and 34% respectively of the adult population are financially literate (S&P Global FinLit Survey). Low financial literacy levels hinder citizens’ participation in the financial system, and their ability to make informed choices and take actions such as saving towards financial security.
“Partnering at this level provides Prudential with the opportunity to help prepare African youth for their futures, especially through financial literacy. Additionally, more Prudential employees will be able to share their professional and personal experiences within their communities and make an impact on local youth by delivering the programme within classrooms,” said Jane Rawnsley, Group Head of Corporate Responsibility, Prudential plc.
There exists a vast opportunity, through in-school programmes such as Cha Ching to educate youth with the knowledge and provide them with the skills they need to make better financial decisions as adults. These programmes allow a wide range of young people to be reached, including those who have less access to learn about the financial world outside of school.
“JA Africa is honored to expand this partnership with Prudential. Prudential’s engagement with JA in Ghana has created tremendous value for the students who participated in the programme while optimizing the expertise of Prudential’s staff,” said Elizabeth Bintliff, CEO, JA Africa. “By providing financial education to our youth we hope to redirect the path to financial inclusion and fuller economic participation in Africa.”