Ecobank Ghana Limited has urged parents to start saving early for their children’s future and involve them in the process to help turn childhood dreams into reality.
Head of Retail Banking, Consumer and Commercial Banking at Ecobank Ghana, Yaa Kesewaa Nyano, said the bank’s Junior Saver Big Pitch initiative was designed to encourage children to develop good savings habits while helping parents plan financially for their future ambitions.
Speaking on Joy FM’s Super Morning Show, she said the initiative aimed to make saving more meaningful for children by encouraging them to identify their dreams and understand the financial commitment required to achieve them.
“Ecobank believes in starting early and starting early in everything, including children,” she said.
Under the Junior Saver Big Pitch initiative, children are encouraged to share what they hope to become in the future, while their parents explain how they intend to save towards those ambitions.
Ms Nyano said children could record videos describing their dreams, whether they wanted to become doctors, nurses, air hostesses or pursue other careers.
The exercise is intended to help children understand that achieving their ambitions requires planning, commitment and financial support.
“Our conversation with parents is that you need to save towards the child’s future, but we need to get the children involved, and that’s what the pitch is about,” she said.
She acknowledged that children’s ambitions might change as they grew older but stressed that families should begin planning and saving early.
“Along the way, it may change, but they need to be intentional about the journey, and it starts now,” she said.
Ms Nyano explained that Ecobank’s Junior Saver account was designed for children below the age of 18, who must have a parent or legal guardian open the account on their behalf.
She said the requirements included the parent’s Ghana Card, the child’s birth certificate, photographs of both the parent and child, and a GhanaPost GPS address.
“It’s pretty simple,” she said, encouraging parents to take advantage of the account to begin saving towards their children’s future needs.
According to Ms Nyano, the account allows parents to save regularly for their children’s education, medical emergencies and other important milestones.
Although parents or guardians make the deposits, she said children should be involved in the process to help them understand the value of money and develop responsible financial habits.
“The parents will save towards it, but with the involvement of the child, because we want the child to grow to become a responsible adult,” she said.
She encouraged families to make weekly or monthly deposits, adding that the savings could be used to support children’s ambitions and meet other needs as they arose.
Ms Nyano said the Big Pitch initiative was built around a partnership between children, parents and the bank, with each playing a role in helping children achieve their goals.
A child who hopes to become a bank manager, for instance, may need financial support to attend university, while an aspiring fashion designer may require money for professional training.
She said parents could save towards these costs, while Ecobank would add interest to the savings as the child grew.
“And so it’s the child dreaming, the parents supporting and the bank adding interest as the child grows. It’s a partnership,” she said.