2019 Swaziland Global Money Week
LEADING ORGANISATIONS:
- Centre for Financial Inclusion, Ministry of Finance, Ministry of Education Swaziland
PARTICIPATING ORGANISATIONS:
- 4 Organisations, 40 School, Asset Managers, Banks, Central Bank Eswatini, Financial Services Regulatory Authority, Insurance Companies, Junior Achievement, SACCOs
NUMBER OF CHILDREN REACHED DIRECTLY:
- 1 025
NUMBER OF PEOPLE REACHED INDIRECTLY:
- 281 015
Centre for Financial Inclusion
During GMW2019, the Ministry of Finance, through the Centre for Financial Inclusion, and the Central Bank engaged students and teachers who are enrolled in the Junior Achievement Financial Literacy Programme. The Week was launched at the University of Eswatini Kwaluseni Campus, by the Hon Minister of Education and Training, Lady Howard Mabuza. The Minister highlighted the importance of early exposure to financial literacy for young people to make responsible financial decisions. The Governor of the Central Bank of Swaziland also attended the launch event and stated that financial literacy education can transform the lives of Swazis, subsequently transforming the economy of the country. Additionally, sessions on the role of the stock exchange were organised and tips were given on how to raise capital for businesses. Issues such as the role of technology to facilitate financial services and products, the importance of digital financial services to reduce transaction costs, the nature of the changes in the financial landscape, which are brought about by cryptocurrencies, and the role of regulation to build confidence in the use of financial services and products by the population at large were discussed. All events and activities were shared via social media.
2018 Swaziland Global Money Week
LEADING ORGANISATIONS:
- Center for Financial Inclusion, Ministry of Education, Ministry of Finance
PARTICIPATING ORGANISATIONS:
- Central Bank of Swaziland, Financial Services Regulatory Authority, FinMark Trust, Junior Achievement Swaziland, 12 high schools, 6 media organisations
NUMBER OF CHILDREN REACHED DIRECTLY:
- 1 020
NUMBER OF PEOPLE REACHED INDIRECTLY:
- 280 000
Center for Financial Inclusion
Global Money Week celebrations were hosted for the second time in Swaziland this year. The GMW launch event was held at The George Hotel on 12 March where the Minister of Education and Training, Dr Phineous Magaula, officially launched the commemoration of the all-important initiative. The Minister highlighted the importance of early exposure to financial literacy for young people to make responsible financial decisions. The Governor of the Central Bank of Swaziland also attended the launch event sharing how financial literacy education can transform the lives of Swazis, subsequently transforming the economy of the country. Other stakeholders present during the launch included Junior Achievement Swaziland Executive Director, Mr. Siboniso Madlopha, Bankers Association of Swaziland Chairman, Mr. Dennis Mbingo, Chief Executive Officer of the Financial Services Regulatory Authority and Mr. Sandile Dlamini.
The Week was themed "Money Matters Matter", which placed emphasis of the importance of financial literacy challenging stakeholders to make efforts to reach young people. This year, a total of 1,247 students participated in the campaign.
During GMW2018, representatives from the Center of Financial Inclusion, Central Bank of Swaziland and Junior Achievement Swaziland visited schools and made presentations about money matters in all four regions of the country. Throughout the Week, the students held presentations on why Money Matters Matter in their life and the importance of money. During these presentations, students came up with helpful tips for other young people and adults. Centre for Financial Inclusion Swaziland and Central Bank of Swaziland visited 12 high schools to lead a discussion with young people about why money matters matter to them.
A lot of creativity was displayed by the young people as they extended the discussion on why money matters matter to discussing issues such as the role of technology to facilitate financial services and products, importance of digital financial services to reduce transaction costs, the nature of the changes in the financial landscape, which are brought about by cryptocurrencies, and the role of regulation to build confidence in the use of financial services and products by the population at large.
2017 Swaziland Global Money Week
LEADING ORGANISATIONS:
- Ministry of Finance -Micro Finance Unit
- The Central Bank of Swaziland
- Ministry of Education and Training
PARTICIPATING ORGANISATIONS:
- Swaziland National Youth Council
- Financial Services Regulatory Services (Stock Exchange)
- Nedbank
- First National Bank
- Standard Bank
- Building Society
- Swazi Bank
- Swaziland Royal Insurance Company
- African Alliance
- Stanlib
- Old Mutual
- Select Financial Services
- Leshego Financial Services
- Fincorp
- Junior Achievement
- University of Swaziland
- William Pitcher Teachers Training College
- Swaziland Association of Savings and Credit Cooperatives
- Swaziland College of Technology
- Ngwane Park Youth Training Centre
- Ngwane Teachers Training College
- Primary schools all over the country
NUMBER OF CHILDREN REACHED DIRECTLY:
- 10 150
NUMBER OF CHILDREN REACHED DIRECTLY:
- 30 000
During Global Money Week 2017, high-level discussions on the need to teach children to save were held, which culminated in the agreement that it is important to integrate financial education into the school curricula. These discussions were held during the official launch of the Global Money Week, which was officially opened by the Minister of Education and the Governor of the Central Bank of Swaziland on 27 March 2017.
One of the highlights of the Week in Swaziland was a financial literacy awareness session offered to children and the youth, where 84 primary school children and tertiary institution students received a lecture on the role of the Central Bank. After the lecture on the role of the Central Bank as a regulator, 16 primary school children and five tertiary students presented essays before the Governor of the Central Bank, Chief Executive Officers of Financial Institutions and Ministry of Education Officers on why it is important for children and young people to start saving from an early age. The students also recommended strategies to enable children and young people to save. The first prize for the primary category was won by Vulamasango Primary School, and the prize for the Tertiary Category was won by the Ngwane Park Youth Skills Training Centre.
Throughout the Week, through various mediums of communication, young people were exposed to the importance of starting to save from an early age. Notably, the need for the Ministry of Education to integrate social and financial education into the school curricula was a subject that received much attention.
Furthermore, primary, college and university students from 16 schools, as well as lecturers, teachers and officers from the Ministry of Education, had the opportunity to visit the Central Bank, Financial Services Regulatory Authority, Stock Exchange, Insurance houses and Asset Managers to learn about their specific roles as financial institutions.
A digital screen remained throughout the Month of April 2017 in order to raise awareness about Global Money Week. Global Money Week 2017 received much media attention in Swaziland, and was profiled in major national press.
2015 Swaziland Money Week
PARTICIPANTS:
- Microfinance Unit
- Ministry of Finance
DATE OF THE EVENT:
- 9th - 17th of March
NUMBER OF CHILDREN REACHED:
- 20
The Micro-finance Unit of the Ministry of Finance, Swaziland, participated in the Banking Association South Africa’s 8th Annual National Launch of Teach Children to Save South Africa initiative. The event served as a platform for the launch of the first ever Financial Literacy Spelling Bee Campaign in South Africa. This visit provided an opportunity for the Swazi delegates to learn more about the association’s events.
During the Global Money Week campaign, the Micro-finance Unit also held national stakeholder meetings with the focus on mobilizing resources for the development of a national financial education curriculum. There were media campaigns to create a national awareness of Global Money Week.
2014 Swaziland Money Week
PARTICIPANT:
Mercy Corps Swaziland joined in the Global Money Week celebrations by raising awareness for the need for financial literacy through 3 World Vision run projects. These projects specifically focus on the economic empowerment of adolescent girls.
Mercy Corps is an NGO that aims to alleviate poverty and oppression by helping people to build secure, productive and just communities. In conjuncture with their regional partners they organised Global Money Week events in a number of countries. In Swaziland they coordinated events with World Vision which is a NGO that works to promote improved and resilient livelihoods so that children, families and communities can experience fullness of life with special focus on economic empowerment and saving groups. To improve child well-being, World Vision’s strategy is aimed at building foundational livelihood assets, improving livelihood strategies, protecting lives and livelihoods and assessing the context and risk to lives and livelihoods. As such, this strategy combines both quick wins for short-term impact as well as concurrent systemic change for long-term sustainability.
