Prudential Plc through its community investment arm Prudence Foundation has inked a deal with free-to-air television platform Akili kids to educate over 6 million children in financial literacy skills through targeted programming.
The animation and music-based financial literacy skills programme—dubbed Cha-Ching—has to date benefitted 1,500 children in Kenya and will target those between the ages of seven and 12.
Prudential said the goal of the programme currently being implemented in schools in partnership with the Ministry of Education is to inculcate a saving culture among the young ones.
“Financial literacy education is a key life skill, and we strongly believe that children need that firm foundation built around good money values to help them transition into a financially responsible adulthood as they grow,” Prudence Foundation executive director Marc Fancy said on Thursday.
“Hence, our commitment through the partnership with Akili Kids will help us to reach as many kids in Kenya as possible through this innovative media platform.”
Under the new partnership, Akili Kids television channel will, over a period of one year, air episodes of Cha-Ching. The foundation expects that the programme will also present a co-viewing opportunity for parents to get more involved in teaching their children the importance of sound financial literacy skills in life.
The partnership with Akili Kids seeks to build on the ongoing efforts by the company to promote financial literacy skills in the country, according to Prudential Kenya CEO, Gwen Kinisu.
“We are confident that this will drive our objectives around financial inclusion and supporting our mission of helping people get the most out of life,” said Ms Kinisu.
Financial literacy is a critical life skill with research showing that having a basic understanding of money at an early age can have significant impact on an individual’s financial future.
United Nations Children’s Fund (UNICEF) defines financial literacy education as the process of inculcating the ability to be both financially literate and financially capable.
According to research by the University of Cambridge, by the age of seven, several basic concepts related to money will typically have developed in a child.