Tuesday 2018-10-16

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SWAZIBANK’S E20 000 FOR SCHOOLS PREPAID CARDS COMPETITION

By Mhlengi Magongo | 2018-08-12

SWAZIBANK has funded the Junior Achievement (JA) schools prepaid cards competititon with E20 000.

Through this competition, schools in all the country’s four regions will compete for the highest number of people to register and have Siyakhula Accounts with Swazi Bank. The top five best performing schools to register the highest number of students would share the prize money.

Teaching

SwaziBank Managing Director Zakhele Lukhele said on Wednesday that the whole idea is about teaching pupils how to save money through formal banking structures.

“We have also recently rolled out a SwaziBank-JA collaboration whereby pupils are taught about financial literacy including saving through formal banking structures,” he said. Lukhele was speaking during a E200 000 presentation to JA and ENACTUS held at the SwaziBank auditorium.

JA Country Director Siboniso Madlopha mentioned that their partnership with the bank aims to provide learners with a practical aspect into their financial literacy programme. Madlopha also mentioned that the partnership is targeting 40 schools in total of which 63 per cent are from the rural areas. “Currently the project has been able to enroll 27 schools who have submitted application forms, reaching out to 803 learners. This is about 67 per cent of the overall targeted schools with 6 schools whom have successfully completed the process and the learners have received the cards.”

He said.According to Madlopha, currently the leading school with 73 students enrolled in the programme is Nyentane High School followed by Ekukhanyeni High School with 19 participating pupils. The country director said the current trend was that pupils in rural areas were showing great interest in the savings programme as compared to their urban counterparts.

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