Prudential Zenith Life Insurance, JANigeria partner on financial literacy for primary school students

Prudential Zenith Life Insurance Limited, one of the leading life insurance companies in Nigeria, has partnered with Junior Achievement Nigeria also known as JANigeria to promote financial literacy skills and a savings culture.

The partnership which was facilitated by Junior Achievement Africa will deliver ChaChing, an educational programme designed to provide primary school students between ages 9 to 11 with access to information and activities to develop financial literacy skills.

The programme will boost the low levels of financial literacy among young people, including those who have had fewer opportunities than others to learn about the financial world outside of school.

Prudential Zenith Life Insurance and Junior Achievement Nigeria believe that good financial literacy is key to empowering people to make good financial decisions.

ChaChing aims to provide young children with a good understanding of money management, ensuring they make ‘money-smart’ choices throughout their lives which will benefit the development of Nigeria.

In a release by JANigeria, it said colleagues at Prudential Zenith Life Insurance have volunteered to facilitate the delivery of the program. They will teach the lessons, coordinate group activities with children, and act as mentors for pupils. The goal is to reach 500 primary school students in Nigeria by  July 2020.

According to the release, Jim Ovia CON, Chairman of Prudential Zenith Life Insurance Limited, whose foundations, the ‘Jim Ovia Foundation’ and the ‘Youth Empowerment & ICT Foundation’, foster social and educational inclusion through support of educational scholarships and ICT empowerment programmes in Nigeria, said: “The Cha-Ching programme aligns with our corporate social responsibility objective and will go a long way to improving the financial literacy and educational development of Nigerian children.”

Disclosing further in a release, it said speaking on the partnership, Sena Quarm Goka, Grants and Programmes Manager, JA Africa said “the Cha Ching financial literacy program was first piloted in Ghana back in 2016; and on the heels of that success, expanded to Kenya, Uganda and Zambia in 2017.

“To date, over 4000 primary school students across the four countries have been trained on the essential financial concepts of “Earn, Save, Spend and Donate”, to educate them on how to make smart money management decisions.”

She further stated that: “Financial literacy education is especially important for young children because the opportunity exists to correct knowledge gaps proactively, rather than retroactively. We’re grateful for the opportunity to expand the Cha Ching program to Nigeria this year, due to the generous support of Prudential Insurance UK.”

While commenting on the partnership, the Director of Marketing and Innovation, Junior Achievement Nigeria, Ms. Oduolayinka Osunloye, said that the collaboration with Prudential UK through JA Africa, was borne out of the social exigency to educate young minds about financial literacy noting that it is a critical factor necessary to becoming future conscientious business leaders.

She stated that: “Junior Achievement Nigeria is delighted about the partnership as it provides engaging, academically enriching and experiential learning sessions which will help students begin to apply financial literacy and critical thinking skills to make wise money management decisions and ultimately prepare them for a financially secure future.“

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Prudential Zenith Life Insurance Limited
Prudential Zenith Life Insurance Limited is part of Prudential Plc, one of the oldest and most strongly capitalised life insurance companies in the world. It provides a range of insurance and investment-linked savings products designed to suit corporate and individual customers’ budgets. The company seeks to remove uncertainty from life’s big events, providing customers with the freedom to face the future with greater confidence.

It is also committed to meeting the long-term savings and protection needs of families and businesses in Nigeria. Whether someone is starting a family, saving for a child’s education or planning for old age, Prudential Zenith Life provides customers with financial “peace of mind”.

About Junior Achievement Nigeria

Junior Achievement Nigeria (JAN) is part of Junior Achievement Worldwide (JAWW), the world’s largest and fastest-growing non-profit economic education organization with a 120-country network. Since inception in 1999, JAN has reached over 970,000 students in over 20,000 classrooms in all the 36 states across the country and the FCT through over 4000 volunteers.As part of a global network, JAN can leverage resources and expertise to deliver localized cutting-edge experiential programs built on JAWW’s three pillars of work readiness, entrepreneurship and financial literacy, to in- and out-of-school youth ages 5 to 27 free of charge.