Global Money Week

2017 Malawi Global Money Week

Leading Organizations:
Reserve Bank of Malawi

Participating Organizations:
Opportunity Bank Malawi

Reserve Bank of Malawi, the central bank of the country, leader in promotion of financial literacy, will join Global Money Week 2017 with an active awareness-raising campaign this year by going on radio, TV, local newspapers and other media outlets to promote the objectives of the Week. Topics such as the importance of savings for youth, as well as awareness on basic financial and banking products will be the main topics of the campaign in Malawi.

Opportunity International Bank of Malawi (OIBM) will be taking part in the GMW 2017 celebrations mainly through secondary school visits for financial literacy and capability sessions. As another way of raising financial awareness, the bank will host students at the bank to show them the banking processes.


2016 Malawi Global Money Week

Lead organization
Reserve Bank of Malawi
Ministry of Education
Malawi Institute of Education

Participanting Organizations:
The Life and Pensions Association of Malawi, Competition and Fair Trading Association of Malawi Association of Business Journalists, Bankers Association of Malawi, Financial Markets Dealers Association of Malawi, Consumer Association of Malawi, Old Mutual, Times Group, Association of Business Journalists, FEDOMA, Alliance Capital, NICO Asset Managers, Catholic Relief Services, Opportunity Bank of Malawi

Date of event:
14th - 20th of March

Total number of children & youth engaged: 500

Malawi has been commemorating Global Money Week since the initiative was first launched five years ago. The Reserve Bank of Malawi led this year’s GMW celebrations by organizing a number of financial education activities including “Open Days” and an educational visits to the Malawi Stock Exchange. The Malawi Stock Exchange also held an “Open Day” for students during the Week, which provided them with the opportunity to better understand how the exchange functions. Personnel at the stock exchange provided insight into their daily operations and answered questions from the students. The stock exchange also organized a ceremonial “Ring the Bell” event for the students to commence the start of trading during their visit.

The Reserve Bank of Malawi coordinated a number of other activities that were organized by its stakeholders and partners throughout the country. For example, financial literacy workshops as well as radio and television talk show programs took place during the Week.

 

2015 Malawi Global Money Week

Participants:
Reserve Bank of Malawi, Ministry of Education, Opportunity Bank of Malawi, Malawi Institute of Education
Date of event:
9th - 17th of March
Number of children reached:
500

Malawi joined the rest of the world in celebrating the Global Money Week under the theme ‘Save Today. Safe Tomorrow’. The Director of Microfinance and Capital Markets Supervision at the Reserve Bank of Malawi (RBM) launched the week in Blantyre, emphasizing the need for Malawian youth to be financially literate. As part of the launch students from Ndirande Hill Secondary School toured the Blantyre Branch of RBM. The students also attended lectures on budgeting as well as other money related issues.

RBM in collaboration with the Ministry of Education and Malawi Institute of Education have integrated financial literacy curriculum topic in eight subjects at the secondary school levels. This curriculum is expected to be piloted in the country by September 2015. The subjects include Agriculture, English, Chichewa, Home Economics, Business Studies, Life Skills, Mathematics and Social Studies.

Opportunity International Bank of Malawi (OIBM) also commemorated Global Money Week with fun and educative activities. The activities included football and netball tournaments, dance and theatre performances, financial literacy meetings, bank visits as well as account opening for youngsters. OIBM placed particular attention on females to increase their participation in their formal financial sector.

OIBM’s agenda for the 2015 Global Money Week was specially designed to reach out to young people, especially females. The Bank engaged them in interactive sessions on the financial sector, informing them about money and what happens to it when it is at the bank. OIBM during the week sought to bring out the energy in young girls and eventually see them taking a center role in financial inclusion issues. The climax of OIBM’s Global Money Week celebration was a “Global Money Week Open Day” on March 17. This event brought on board young people from all circles, schools, communities, youth service organizations. These youngsters were provided the opportunity to open accounts with the Bank and listen to motivational talks from bank officials.

 

2014 Malawi Global Money Week

Participants:
Reserve Bank of Malawi
Opportunity International Bank Malawi
Ministry of Education, Science and Technology
Malawi Stock Exchange
Traditional Leaders
CECOYODE Malawi
Date of the event:
10th - 16th of March
Number of children reached:
2 200

During Global Money Week, the Malawian government called upon all young people to develop a culture of saving and investment through a media campaign. This savings campaign, spearheaded by the Reserve Bank of Malawi (RBM), was run on television, radio and newspapers. Due to the interest in the campaign shown by the youth, Cecoyode Malawi intends to sustain the campaign, with slight realignments in order to target youths in schools. The media campaign was kicked off by a general press release that informed the public of Malawi’s participation in Global Money Week. Throughout the week, the government issued daily press releases themed on budgeting, saving, opening and maintaining a bank account, how to use an ATM, how and when to use a check book, investing, understanding financial fraud, how to determine counterfeit money, and how to lodge a complaint against a financial institution. On 10th March, there was an educational visit to the Central Bank. Students learnt about the role of the bank and how it executes its roles. This was achieved through a guided tour of the Central Bank, an address by the Deputy Governor, and presentations which were given by senior Central Bank Officers. On the 11th and 13th March Children’s Talk Show program was aired on television. Children were engaged in a debate on how they want to manage their finances for economic and personal development. The talk show program was pre-recorded live on 7th March.

Financial lessons were given on the 12th March where the organizing team visited a learning institution to talk to teachers and students on financial education related matters.The highlight of the week was a visit to Malawi Stock Exchange on 14th March. Children watched a presentation on the operations of the Malawi Stock Exchange and they had the opportunity to ring the bell to mark the beginning of the day’s trading activities. After the Malawi Stock Exchange, children visited one of the major commercial banks to learn about the banking products and services and how they can develop a career with the banking industry.

Opportunity Bank Malawi employees enjoyed teaching primary school children about financial education during Global Money Week. Students visited 3 Opportunity Bank of Malawi branches. Malawian youth were invited to visit a selection of Premium Trust Bank branches to learn about the inner workings of a bank and what happens to their money when they open an account. On the 11th and 12th March, the bank employees held workshops, lessons and a quiz in primary and secondary schools at various schools and community centers.

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