Ecobank Partners JA Africa To Promote Financial Literacy.
OMOTAYO ARAOYE
Ecobank Group and Junior Achievement (JA) has signed a partnership to educate and mobilize over 600,000 youths in Africa with financial literacy knowledge Skills.
Their new partnership which is called “Banking on Africa’s Youth”, will undertake a campaign which will tap into JA’s vast online community, comprising over one million young social media followers spread across Africa. The campaign would reach to different youth groups in Nigeria, Ghana, Kenya, Cote d’Ivoire and Senegal through all its media outlets over a period of three years.
This initiative is part of Ecobank’s Junior Savers which in part seeks to grow financial inclusion for young Africans using Ecobank’s mobile/digital resources.
The purpose of the online campaign is to empower potential and existing Junior Savers account holders with the requisite financial literacy knowledge to understand and begin to build a culture of savings as part of their personal financial habits. It targets youth groups, online influencers and communities with knowledge of some basic financial concepts.
Ecobank said the collaboration with JA Africa would enable the bank to positively impact young citizens who are our investment in the future of the continent
According to the Consumer Banking Head at Ecobank Transnational Incorporated, Nana Araba Abban, said, “The Ecobank Group is committed to building financial literacy and money management skills amongst the youth as they transition into Africa’s productive workforce.”
The value for customers will be expanded to include financial literacy concepts: earning, budgeting, spending and banking. The campaign will involve participants advancing progressively through the four concepts.
Speaking about the program, JA Africa’s CEO, Elizabeth Elango Bintliff, said, “This partnership with the Ecobank Group reinforces both JA Africa’s and the banking group’s commitment to financial literacy and inclusion for all Africans, especially the youth. We believe in educating a new generation of leaders with the knowledge they need to navigate their economic futures while giving them the tools to succeed.”
Africa’s youth today are growing up in a new financial world where technology plays a big role in their lives. This partnership will go a long way to reach and influence the behavior of millions of unbanked young people on the African continent by giving them the requisite financial literacy skills to become financially informed adults in the future.
According to the World Bank 2018 report, young Africans are less likely to have a bank account than adults on the continent. At the same time, they are more likely to have a mobile phone, engage with friends and be aware of digital channels. Current technology channels, especially social and digital media, provide the avenue to reach and engage young people at scale. The campaign, therefore, seeks to leverage technology to achieve its goals.
Junior Achievement Africa (JA-Africa.org) prepares youth for the future of jobs by bridging the knowledge gap between school and the world of work. Through the delivery of financial literacy, work readiness, and entrepreneurship training and in collaboration with schools, technical/ vocational centres and other partners, JA Africa works in 15 countries reaching 250,000 youth each year.
Ecobank Transnational Incorporated (‘ETI’) is the parent company of the Ecobank Group (Ecobank.com), the leading independent pan-African banking group.
The Group employs over 15,000 people and serves about 20 million customers in the consumer, commercial and corporate banking sectors across 33 African countries. ETI is listed on the Nigerian Stock Exchanges in Lagos, the Ghana Stock Exchange in Accra, and the Bourse Régionale des Valeurs Mobilières in Abidjan.
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