Global Money Week

2017 Burkina Faso Global Money Week

Leading Organizations:
Secrétariat permanent pour la promotion de la Microfinance
Ministère de l’Economie des Finances et du Développement

Participating Organizations:
Banque Centrale des Etats de l’Afrique de l’Ouest (BCEAO)
Faitière des caisses populaires du Burkina (RCPB)
Fonds d’Appui au Secteur Informel (FASI)
Institut Africain de management de Ouagadougou (IAM-Ouaga
Plan International-Burkina
UNCDF,
Alliance de Crédit et d’Epargne pour la Production (ACEP)
Ministère de la Jeunesse, de la Formation et de l’Insertion Professionnelle,
Première Agence de Microfinance
Ministère de l’Economie, des Finances et du développement

During the period of the Global Money Week (GMW), the Ministry of Economy, Finance and Development through the Permanent Secretariat for the Promotion of Microfinance was responsible for coordinating and supervising all the activities of the partners.

During the GMW, UNCDF launched an advocacy campaign called "Bank The Youth". This campaign aimed to promote a set of recommendations to policy-makers to improve the financial inclusion of young people. It took place in a private university in Ouagadougou and gathered about 400 young people.

Key messages included:

- The legal and regulatory framework;

- Development of financial services adapted to the needs of young people

- Development of financial skills through financial education

During the campaign, impact ambassadors have been nominated. Their mission was to convey campaign messages to reach as many young people as possible.

In addition, the “Reseau des Caisses Populaires of Burkina Faso” carried out the following activities:

- training in financial education for 400 young people in schools and training centers

- organization of guided visits in caisses populaires for young people in schools and training centers;

- opening of accounts for 12 to 25 young people aged. It is also planned to invite and involve youth organizations in the various activities.

By the end of the week, we hope to reach more than 900 young people.


2016 Burkina Faso Global Money Week

Leading Organizations:
Faîtière des Caisses Populaires du Burkina (FCPB)

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 & 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 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 complete the savings plans and do the math, keeping in mind realistic and achievable goals. According to the bank, the conclusion can be drawn from this experience that children know what they want for their future and only need to be encouraged and advised to get there. 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 savings premises, 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:
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 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 opportunity to express their views. It was observed that children and youth already have 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 offers to clients. Some children got the privilege of getting an account opened the same day. Others received coupons that will allow them to open account in future.

Some questions asked by students during visit to financial institutions:

"Banks are private or public company?”

"How do banks ensure security of money?”

"Is it possible to access 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 disadvantaged group (deaf center) and opening of accounts for the children in this center was also facilitated.

 

2014 Burkina Faso Global Money Week

Date of the 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 of "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 is the credit unions and the YouthStart program responsibility to take on this role 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 the 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.

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