NIC Bank Group has partnered with Junior Achievement (JA) Kenya and Craft Silicon Foundation to roll out an innovation challenge in a bid to provide a platform that encourages innovative and technical thinking in addressing the financial services sector.
The challenge targets both high school and university students who are members of the Junior Achievement club and seeks to encourage participants to develop transformational innovative solutions that will drive for positive change in the financial sector to benefit individuals and communities across the nation.
The challenge will identify the most innovative ideas that offer solutions addressing issues of financial inclusion, financial literacy and practical financial solutions. The JA club with the most innovative idea on financial literacy will win Kshs. 300,000.
“The youth are vital stakeholders in our society. They are critical in defining how we do business today and continue to impact the future of businesses. We need to equip them with the right tools to empower them in all aspects of their lives including finances,” said NIC Bank Group Managing Director Mr. John Gachora. “As an innovative Bank we are constantly working with various partners to come up with solutions to reach out to all our customers, including the youth.”
“This is an opportunity for the participating youth to play a role in shaping their future and that of their peers by coming up with innovative ways to educate on something noble as personal finance,” said JA Kenya Executive Director Mr. John Wali.
He noted, “This programme presents the students with a platform to influence financial literacy in their community. It offers participating students an opportunity to engage in the development process and bring their ideas to life by finding day-to-day solutions.”
Craft Silicon Foundation Chief Executive Ms. Priya Budhabhatti noted the winning idea stands a chance to be commercialized by her company.
“We are glad to continue partnering with NIC Bank and Junior Achievement to roll out this initiative to support innovation among young people. This is key as they are the ones who will be the leaders of tomorrow,” she said.
The continued partnership harnesses raw talent and spurs innovation. As experts in their respective fields – technology sector, financial sector and mentorship – the three partners have the opportunity to plant the seed of innovation and reap rewards in the future.