We have contributed N$210 000 to the Business Literacy Project, which is an initiative of the Youth Entrepreneurship Seminars (YES) Trust. This is the eighth consecutive year that we are involved in such a worthy cause aimed at equipping Namibia's youth with essential business financial literacy.
YES Trust empowers Namibian youth with basic business financial literacy, providing them with practical business experience through simulation. This is a simulation that requires them to think and take the necessary financial decisions that will lead to the success or the failure of the business.
Through a project like this we would love to see many Namibian youngsters making informed financial decisions. This initiative also ties in well with government's Financial Literacy Initiative of which Standard Bank Namibia is also a member.
At Standard Bank Namibia, we believe that educating our youngsters in business literacy will lead to a more productive workforce, decreased unemployment and a fruitful economy.
Financial Literacy Initiative is a rotation based project that spends two full days at a school to engage Grade 11 learners and teachers on a practical business simulation exercise.
The practical approach aims will help grow entrepreneurial skills in Namibia. Business literate learners become business literate adults who are better off in providing for themselves and their families. They are more likely to save for a brighter future and less likely to fall into the debt trap.