NBM school students on savings

Bank of the nation, National Bank of Malawi (NBM) Plc recently reached out to about 10 Secondary Schools across the country where it engaged students on the benefits of savings and financial literacy.

NBM plc to reached out to 10 secondary schools in namely Bwaila, Dowa, HHI, Chiradzulu, Mangochi, Liwonde, Kaseye Girls, Mnjiri, Ngabu, and Mwanza during a savings awareness week which was held from 6-10 November 2023 organised by the Reserve Bank of Malawi (RBM) in partnership with the German Savings Bank Foundation (DSIK).

During the campaign, RBM tasked Banks to reach out to people especially students with financial literacy and savings messages.

NBM’s Lilongwe Service Centre Manager, Maureen Gwembere said the Bank managed to fulfil the task which also provided a chance for them to grow their brand and also opened accounts for some students.

“We used different methods to disseminate the message to the youths and students. We interacted not only with the students, but also teachers and other staff members in the schools, where we made presentations on Personal Finance Management, Savings for a better tomorrow, and how to manage ones’ finances.”

“Apart from the presentations, we used different approaches including a knowledge quiz based on the presentations, dance competitions and prize presentations.

“The dance competitions were designed to leave a lasting impression on the students that saving and partnering with financial institutions on this journey is not always formal and boring but can be mixed with fun and showcasing of one’s social talents as part of young people’s lifestyle,” said Gwembere.

On his part, Mwanza Secondary School headteacher, Henry Saka commended NBM plc for the visit saying most students were not aware that they can own accounts and save money.

“The impact of the visit was positive because most of the students were not aware of the significance of saving money. Even teachers benefited from the visit as, apart from having accounts with various banks, they didn’t understand the importance of saving money for the future.

“We are growing and definitely one day we will not be as active as we are, therefore the money we save now will save us during those times,” said Saka.

Saka further commended NBM plc for the approaches taken to spread the message to the students, saying even the gifts they won during the competitions and quiz will always remind them of the message about financial savings.

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