Prudential inks deal to teach kids finance skills


Prudential inks deal to teach kids finance skills

(LR) Jeff Schon, Founder and CEO of Akili Network, Gwen Kinisu, CEO of Prudential Life Assurance, and Marc-xavier Fancy, Executive Director of Prudence Foundation, after signing the partnership. PICTURES | JEFF ANGOTE | NMG

Prudential Plc, through its community investment arm Prudence Foundation, has signed a deal with free-to-air TV platform Akili kids to educate more than 6 million children in financial literacy through targeted programming.

The animation and music-based financial education program – dubbed Cha-Ching – has so far benefited 1,500 children in Kenya and will target those between the ages of seven and 12.

Prudential said the aim of the program currently being implemented in schools in partnership with the Ministry of Education is to instil a culture of savings in young people.

“Financial education is an essential life skill, and we strongly believe that children need this strong foundation built around good monetary values ​​to help them transition into financially responsible adulthood as they grow” , said the executive director of the Prudence Foundation, Marc Fancy, on Thursday.

“Therefore, our commitment through the partnership with Akili Kids will help us reach as many children as possible in Kenya through this innovative media platform.”

As part of this new partnership, the Akili Kids television channel will broadcast episodes of Cha-Ching over a one-year period. The foundation expects the program to also present a co-viewing opportunity for parents to become more involved in teaching their children the importance of strong financial skills in life.

The partnership with Akili Kids aims to build on the company’s ongoing efforts to promote financial literacy in the country, according to Prudential Kenya CEO Gwen Kinisu.

“We are confident this will drive our financial inclusion goals and support our mission to help people get the most out of life,” Ms. Kinisu said.

Financial literacy is an essential life skill, and research has shown that having a basic understanding of money at a young age can have a significant impact on an individual’s financial future.

The United Nations Children’s Fund (UNICEF) defines financial education as the process of instilling the ability to be both financially literate and financially capable.

According to a study from the University of Cambridge, by the age of seven, several basic concepts related to money have usually developed in a child.

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