The National Youth Agency is partnering the National Youth Institute and Barclays Bank Mozambique to deliver a financial capability project that will support the reduction of poverty and disadvantage amongst young people in Mozambique. The project was launched on Thursday in Manhica, near the Mozambican capital, Maputo region.
Following the success of the Barclays Money Skills ‘champions’ project in the UK, which benefited over 100,000 young people, the National Youth Agency met with the Minister for Youth and Sports of Mozambique in August 2013 to develop a money management programme with the National Youth Institute .
Fiona Blacke, NYA Chief Executive said, “Many young Mozambicans live in an environment where personal opportunities are limited. Educational attainment is low, poverty rates are high and employment is difficult to secure. Many young people are self-employed and the distinction between personal and business finance is often blurred.
“Financial management skills are not just for the wealthy – they can make a significant difference for all. The young people that live in Mozambique need the skills to save when they can, to budget and manage credit wisely in order to make the most of the resources they have.”
The Money Champions project will help young Mozambicans to think about money in a different way and build their skills and knowledge to set up in enterprise or paid employment. The project aims to train 300 ‘champions’ to pass on this valuable information to 6000 other young people through peer education.
Hélder Santos, Acting Managing Director of Barclays Mozambique, said, “Young Mozambicans, like young people all over the world, want the chance to study and work in order to earn money and help the family. They want health and security and a home to live in. For many in Mozambique these fundamental conditions remain elusive.
“Barclays Bank Mozambique is pleased to help young Mozambicans on their journey to achieve their financial ambitions by sponsoring this educational programme.”