Featured - Finance - Local - Top Stories - March 26, 2021

Zim’s financial institutions joins  Global Money Week 2021 commemorations

The ending Global Money Week (GMW21) has seen the participations of a number of financial institutions in Zimbabwe as they ran different campaigns on social media highlighting the importance of building financial resilience and staying financially healthy.

Global Money Week is a global money awareness celebration that takes place in March every year and is coordinated by the Child and Youth Finance Secretariat to raise awareness and directly engage children and youth worldwide on the issue. This year it is running from 22 to 28 March, under the theme, “Take care of yourself, take care of your money”.

GMW21 mainly emphasized on the need for financial institutions to make strides to improve financial inclusion by availing products that are retail investor oriented to target the once secluded sections of the economy.

A survey made by BusinessMail has shown that different money institutions in Zimbabwe like the Banc ABC, First Capital Bank, Zimbabwe Stock Exchange (ZSE), Victoria Falls Stock Exchange (VFEX) actively participated in these celebrations by launching campaigns on Twitter, Facebook and Tiktok.

ZSE featured an Associate Consultant Intelligent from Investment Consultants Pvt Ltd, Vimbai Ndowora who shared her investments nuggets.

Ndowora emphasized on how investing is a step by step journey which is potentially rewarding over haul and can be a source of regular passive income in one’s twilight years.

“Wealth creation is best achieved through traditional investing and unlike speculation, it is a marathon and not a sprint. It requires tact, with focus on specific, strategic goals and above all requires an appreciation of one’s constraints with a view of long-term success,” she said.

On the Banc ABC and the VFEX ran campaigns on Twitter with the intention of teaching young people on how to invest strategically.

“The topic of “How to Invest Strategically” is always a pertinent one when it comes to Money Management. In today’s #GlobalMoneyWeek2021 Money with wings video, we tackle this topic to help you learn some crucial tips Electric light bulb on how to manage your money strategically,” reads a tweet by Banc ABC.

Partnering with JA Zimbabwe, First Capital Bank Zimbabwe celebrated the Global Money Week with a Tik Tok Challenge. To participate create a creative 30second video with tiktok (singing, dancing, poetry) with the 2021 GMW theme.

Through their GMW21 campaigns, Zimbabwe’s financial institutions emphasized on broadening the youth’s understanding of financial options and principles.

Financial literacy is important in the life journey of everyone, be they in primary school, secondary school, tertiary level, whether employed or unemployed. Financial literacy is more about making thoughtful and informed decisions about one’s finances.

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