NMB teaches children savings culture

In its continuous bid to expose the citizenry to financial literacy at a very early age in life, NMB Bank Plc has taught children on financial discipline and savings over spending.
The move went hand-in-hand with the closure of Customer Service Month that witnessed the opening of various accounts under WAJIBU proposition.
Hildegard Mung’ong’o, NMB Man- ager at Oyster Plaza Branch said that for early positioning of children for global and local relevance, there was need to teach them on how to prioritise savings over spending, which is a valuable life lesson and one that takes time to learn.
More than 25 children attend- ed the training aimed at building a sustainable culture of keeping savings since childhood.
“Opening a savings account for a child is one of the best ways to introduce him/her to that concept of saving at an early age. Our 226 branches across the country are proud to bring children together and educate them
on financial discipline and savings through WAJIBU service includes a suite of three accounts: Mtoto (child), Chipukizi (adolescent) and Mwanachuo (student),” she noted.
She added “Our goal is to help you make the right decisions for your children’s future from both a financial and education perspective.”
She explained that they have decided to educate children who will not only be bank ambassador, but also potential future customers.
Mung’ong’o pointed out that NMB has focused on various improvements over whole month of Customer Service by laying the foundations for increasing future customers, which are children.
She urged parents and guardians to visit NMB branches to open savings accounts for their children, which is important investment and parents will remain their supervisors.
Lilian Kisamba, CSR Projects Manager at NMB said WJI- BU proposition boosts child’s education and financial discipline. The programme began in 2016.
“Since then, WAJIBU through a suite of three accounts: Mtoto, Chipukizi and Mwanachuo has been able to reach 90,000 children across the country, where NMB has built them with a culture of savings under pa- rental supervision,” Kisamba shared.
She, however, advised children to avoid borrowing money, buying staffs on credit, taking money that is not their own and spending money at once disposal without saving.
According to her, NMB through WAJIBU proposition aims at having a nation of tomorrow with a profound understanding of financial literacy. This is why the bank has introduced a programme that includes a parent and a child.
She concluded that the country’s economic future depends on the financial well-being of the youth. It is critical that children begin learning about finances at a young age so they are better prepared to make sound financial decisions in the future.