CBS Financial Education Youth Ambassadors Programme |25 February 2021
New youth programme to pave way for better adult financial well-being
Financial literacy, or the education and understanding of knowing how money is made, spent, and saved, as well as the skills and ability to use financial resources to make decisions is important because it equips one with the knowledge and skill to manage money effectively.
Since the youth are the future pillars of the country, developing their financial knowledge, skills, and habits is an important stepping stone on the path to their adult financial well-being.
It is in that perspective that the Central Bank of Seychelles (CBS) has launched the first Youth 4 Youth – a Financial Education Youth Ambassadors Programme that aims to empower the youth and encourage peer-to-peer learning and advocacy on financial education.
The programme, which will last for one year, is targeting youths aged between 16 and 30 and will include a knowledge and skills component to increase the Financial Education Ambassadors’ knowledge and skills in various financial related topics.
Selected candidates for the programme will have the opportunity to help make an impact in their community by enhancing the level of financial literacy through innovative ideas and projects, peer-to-peer learning and support from the National Financial Education Secretariat to realise their ideas and projects.
A total of 42 young people aged between 16 and 30 years old have successfully qualified to be part of the one-year programme.
The launch event of the programme took place virtually yesterday due to the ongoing Covid-19 pandemic and it was the Governor of the CBS, Caroline Abel, who got it under way.
Ms Abel noted that the new programme marks a new era in the bank’s commitment towards the people in terms of financial education.
She said over the years they have paved the way through policies and strategies to boost the implementation of various financial education programmes aimed at increasing the population’s knowledge on financial-related issues.
One of the most common themes which comes up when addressing the issue Ms Abel said is Financial technology (Fintech), which is used to describe new tech that seeks to improve and automate the delivery and use of financial services.
At its core, Fintech is utilised to help companies, business owners and consumers better manage their financial operations, processes, and lives by utilising specialised software and algorithms that are used on computers and, increasingly, smart-phones.
On behalf of the CBS, Ms Abel vouched to support all the ambassadors to the fullest, helping them to take control of their present financial status for future benefits.
She also urged them to seize the opportunity to make a difference and positive impact to the society.
As financial ambassadors, the youth should act as instigators of change by embracing positive changes and walk the talk, providing an example to peers and the public, while not hesitating to try out digital payments or even money-saving strategies and always share their experiences.
They should equally be a helping hand by sharing knowledge and experiences on financial literacy to peers and others, and also develop programmes and awareness materials to benefit their schools and work places.
Thirdly, they should also be spokespersons of the strategy by communicating positive messages, including over social media, radio and other relevant means, while taking the opportunity to spearhead their own financial education programme with sponsorship through the Financial Education Fund.