In a place where financial literacy is often overlooked, the Société d’Inclusion Financière – SIF GROUPE has taken a step towards addressing the critical issue of lacking financial awareness and knowledge among the youth. Through their innovative project, “Autonomisation des Adolescents grâce aux Compétences de Vie et l’Éducation Financière” (Empowering Adolescents through Life Skills and Financial Education), SIF GROUPE has partnered with Aflatoun to make a lasting impact on the financial well-being of young individuals in Benin.
Partnership with Aflatoun
SIF GROUPE partnered up with Aflatoun in 2020. The collaboration brought technical support and expertise, playing a key role in the project’s successful implementation. Together with Aflatoun, SIF GROUPE is strongly dedicated to cultivating a financially aware and responsible generation in Benin. As the project moves towards its conclusion in 2024, we aim to positively impact the lives of Beninese youth, paving the way for a future where financial empowerment is seamlessly integrated into education.
SIF is also one of the organisations working under the initiative funded by the Dutch NATIONALE POSTCODE LOTERIJ. The support given by NPL has played an important role in facilitating our core initiatives as our movement expands globally. This project “Empowering Adolescents Through Life Skills and Financial Education”, is designed to empower adolescents in Benin, Senegal and the Democratic Republic of the Congo, with a special focus on girls, by implementing a gender-sensitive life skills and financial literacy programme aimed at fostering social and economic empowerment.
Addressing Financial Literacy
SIF GROUPE recognises the pressing problem of young adults navigating adulthood without the essential financial skills needed for informed decision-making. The absence of knowledge in managing finances can lead to serious consequences in adulthood, including debt and financial instability. In response to this, SIF GROUPE has implemented a comprehensive strategy to introduce financial education into secondary schools and universities.
A Journey of Integration
In the unfolding success story of SIF GROUPE’s initiative, the journey of integration of social and financial education can be traced through two phases. The groundwork was laid in February 2023 during Phase 1, where efforts were concentrated on integrating social and financial education (SFE) into secondary school curricula. This four-day event was instrumental in presenting the Beninese pedagogical framework, introducing the Regional Financial Education Programme, and developing themes in Social and Financial Education according to the Aflatoun curriculum.
Building on the achievements of Phase 1, the initiative progressed to Phase 2, which took place in May 2023, at the Conference Hall of the National Microfinance Fund. This phase aimed to consolidate and finalise the structure of the educational programme for SFE in secondary education. The initiative has set its sights on achieving a profound impact and transformation within the educational landscape. The anticipated outcomes are extensive, as SIF GROUPE efforts to enhance young people’s understanding of financial issues, provide students with practical financial knowledge and skills for informed decision-making, mitigate the risk of debt in adulthood, and foster financial responsibility among the younger generations.
This collaborative effort underscores their commitment to shaping a financially literate and responsible generation in Benin with the help of Aflatoun. As the project advances towards its conclusion on July 31, 2024, the expectation is that the positive impact on the lives of Beninese youth will be transformative, working for a future where financial empowerment is an integral component of education.
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