Family banking at the core of Stanbic Private Banking Proposition

MBEYA: Stanbic Private Banking held their renowned Financial Fitness Academy, an initiative aimed at fostering financial literacy among Families with special focus on the children.

The event took place from 10:00 AM to 2:00 PM at Usungilo City Hotel in Mbeya.

The Financial Fitness Academy was designed to impact children with essential financial skills, including making money, spending, saving, and giving. By starting financial literacy early, Stanbic Bank aims to instil the discipline and understanding necessary for a financially secure future.

“We believe that financial literacy is a crucial life skill that should be nurtured from a young age,” said Shangwe Kisanji, Head of Private Banking at Stanbic Bank.

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He added; “Through this initiative, we aimed to empower the next generation with the knowledge and tools they need to make informed financial decisions.”

The event featured a variety of engaging activities designed to reinforce the financial concepts the children had learned. Budgeting games taught children how to manage their money in a fun and interactive way.

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Role-playing scenarios provided practical exercises where children simulated earning and saving money, helping them understand these important concepts through hands-on experience. Insightful discussions encouraged children to share their understanding of financial principles, fostering a deeper grasp of money management.

Financial training for children offers numerous benefits that extend well into adulthood. Early financial education helps children develop a strong understanding of money management, budgeting, and the importance of saving. These skills foster financial discipline and responsibility, preparing children to make informed decisions about their finances in the future.

Additionally, children who are financially literate are more likely to avoid debt, save for significant life events, and contribute positively to the economy. By equipping the next generation with these critical skills, Stanbic Bank is helping to build a financially stable and prosperous society.

“This initiative underscores our commitment to not only solve for our Private Banking clients but extend the same to those dear to them, their Family members” added Shangwe.

“By including activities for both children and spouses of our clients, we aim to promote comprehensive financial literacy within our client base.”