Burkina Faso2017 Burkina Faso Global Money Week

LEADING ORGANIZATIONS:

PARTICIPATING ORGANIZATIONS:

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 856

NUMBER OF CHILDREB REACHED INDIRECTLY:

  • 856

During Global Money Week, the Ministry of Economy, Finance and Development, through the Permanent Secretariat for the Promotion of Microfinance, coordinated and supervised all partner activities.

The Reseau des Caisses Populaires of Burkina Faso carried out several activities, including 8 financial education training sessions for 426 young people conducted in schools and training centers, and the opening of accounts for young people aged 12- 25. Guided visits were held in two credit unions for 78 young people.

Throughout GMW the Association Internationale des Etudiants en Sciences Economiques et Commerciales (AIESEC) organized a guided visit for 25 young people in the Regional Stock Exchange of Ouagadougou.

In addition, UNCDF and CYFI launched the "Bank the Youth" advocacy campaign in Ouagadougou, directly involving 400 young people. This campaign aimed to improve the financial inclusion of young people. Key messages promoted during the event included a focus on legal and regulatory frameworks, the development of financial services adapted to the needs of young people, and the development of financial skills through financial education.


2016 Burkina Faso Global Money Week

LEADING ORGANIZATIONS:

PARTICIPATING ORGANIZATIONS:

  • AIESEC Burkina Faso
  • Complexe Scolaire Guingouma, Les Enfants de la Compassions de Saaba, Lycée Saint Joseph

DATE OF THE EVENT:

  • 14th - 20th of March

TOTAL NUMBER OF CHILDREN AND YOUTH ENGAGED:

  • 351

2016 was the 4th successful participation of la Faîtière des Caisses Populaires in Global Money Week! Various trainings on financial education and awareness raising were organized for GMW. Almost 400 people joined these GMW celebrations in Ouagadougou!

The Week started with communication and training on financial education at the Complexe Scolaire Guingouma, by the Focal Point for Youth Products from Faîtière des Caisses Populaires du Burkina (FCPB). AIESEC Burkina attended this event as an observer and expressed interest in participating in next year’s edition. After explaining the context of the Global Money Week celebrations, questions were asked to the children such as: “What does the word ‘save’ mean to you?”, “What are children and young people saving for?”, “What can you save aside from money?”, “What could happen if you are not saving at all?”, “Where do you keep your money?”, “What could happen if you are not keeping your money in a bank account?” and “Why will savings help you in the future?”.

Afterwards, the FCPB has helped them to set goals for the future and to make plans to achieve these goals. All participants were able to use their mathematics skills to complete the savings plans, keeping in mind realistic and achievable goals. The conclusion drawn by FCPB from this experience was that children know what they want for their future and only need to be encouraged and advised to achieve these goals. After this exchange, Justin Sandwidi, the Youth Champion of the YouthStart program from the UNCDF, explained to the children what credit unions and their services are, as well as which opportunities young people aged 12 to 25 can have if they adhere to YouthStart. Thereafter, the students had the opportunity to ask further questions about finance, cash services and conditions for opening an account.

The GMW celebrations continued the two following days with further trainings on financial education in two schools: Les Enfants de la Compassion de Saaba and the Lycée Saint Joseph. The trainings first explained the context of Global Money Week and then asked the students to identify a personal goal. The students were prompted to start the planning process in order to achieve this objective, compare different saving techniques, determine the benefits of saving and, finally, to take note of the opening procedure of savings accounts for young people. The trainings were interactive and the students were really involved.

On 18 March, around 30 students visited the agency of Saaba to better understand the role of banks and the financial system in general. Examples of questions that young people were asked are: "How safe is money?", "Where does money comes from?", "What are the interest rates charged by the fund?", "What studies should be done to work at the FCPB?", "Can students get a loan from the fund?" and more.

2015 Burkina Faso Global Money Week

LEADING ORGANIZATIONS:

  • Faîtiere des Caisses Populaires du Burkina (FCPB)

PARTICIPANTS:

  • Cours Professionnelle le Technicien (CPT)
  • Lycée privé parent d’élève
  • Lycée privé du Kadiogo (LPK)
  • Lycée privé professionnelle dr Bruno Bushurser (LPBB)
  • Lycée privé l’excellence
  • Lycée privé des techniques appliquées (LTA)
  • Lycée privé international pour l’intégration à Ouagadougou (LPIIO)

DATE OF THE EVENT:

  • 13th - 17th of March

NUMBER OF CHILDREN REACHED:

  • 297

CYFI’s partner, la Faîtiere des Caisses Populaires du Burkina (FCPB) celebrated GMW for the third year in a row. Many activities aimed at paving the way for long-term inclusive financial services for young people in Burkina Faso were conducted. GMW celebrations started with programs to create awareness about financial education and savings in seven schools. Children were educated about money management with an emphasis on saving. Along with setting the context about GMW celebrations, children and youth were given the opportunity to express their views. It was observed that children and youth already had goals and future aspirations and that they only needed to be encouraged, advised and supported to achieve them.

Children and youth also visited banks and learnt about various products and services banks offer to clients. Some children had the privilege of opening an account on the same day! Others received coupons that would allow them to open an account in future.

Some pertinent questions were asked by students during visits to financial institutions, and included "Banks are a private or public company?”, "How do banks ensure the security of money?”, "Is it possible to access your own account and use money if one is out of the country and how?”, "What are the interest rates charged by banks?”, "How do banks make money?”, "Can printing of money to reduce poverty in the world?”.

Further, site visits for young entrepreneurs were conducted. Awareness programs for those at the Deaf Center were facilitated as well as the opening of bank accounts for these children.

2014 Burkina Faso Global Money Week

DATE OF TEH EVENT:

  • 13th - 14th of March

NUMBER OF CHILDREN REACHED:

  • 189

The Faîtière des Caisses Populaire du Burkina celebrated Global Money Week for the second consecutive year. The celebrations started with presentations given by the Director of Case Song-Taaba, Mr Alu Hamadou, and representatives from the YouthStart program. Justin Sandwidi, the Youth Champion of the YouthStart program initiated a discussion with a large group of his peers and financial experts on the topic "What do the youth and children want for their future?" The conclusion that was drawn from the exchange of ‘savings’ stories was that children usually know what they want for their future and only need to be encouraged and advised to help them achieve their dreams. After the exchange Mr. Hamadou added that it was the credit unions' and the YouthStart program's responsibility to take on the role of advisor by developing financial inclusion policies and teaching the youth about how to access and properly use the financial products available to them.

The next day a group of 120 students, many of whom were involved in the discussions on the 13th March, participated in an interactive workshop that encouraged the youth to identify a personal goal and begin the planning process to achieve this goal. They then compared the different places where you can save money and they were asked to determine the benefits of saving with the RCPB. They ended the workshop with a discussion on the rules for opening a youth savings account. Activities continued into the evening with a guided tour for 30 students of the Commercial Technical Institute AKPODE and Song- taaba. The training was interactive and the youth were completely involved in the process. Those who responded well to the questions were rewarded with sweets and financial-themed gadgets.