Fiji Development Bank : Central College lautoka wins 2010 Money $mart for the urban category

15 July 2011

Central College

The Fiji Development Bank today (14/07) handed over $500 to Central College Lautoka as prize money for winning the 2010 Money Smart™ for the Urban Category.

In handing over the cheque, FDB’s General Manager Business Risk Services, Nafitalai Cakacaka congratulated the students and Commercial Studies teachers for their hard earned effort.

“Your effort and diligence has led to 100% compliance in the opening of a savings account by you, the students with each of the 137 students participating, averaging savings of $71.60 each –a very good effort indeed,” he said.

“Overall, you managed to save $9,666.50 in 12 weeks. Your average savings is the highest of the four schools that will be awarded this year for the respective categories.”

Mr. Cakacaka also urged students to maintaining the discipline of a regular saving habit and to continue to exercise the lessons learnt during the course of the programme.

Students, Debra Sheemal and Mikayla Chambers, both 15, thanked the FDB for supporting such an innovative programme.

“The Money Smart™ task has encouraged me to set short term and long term goals by prioritizing my needs and wants,” Debra said.

“I learnt to make a budget for myself so I could manage my expenses and savings. Not only have I become a wise consumer, but I have learnt to do holiday jobs and save my pocket money.”

Mikayla on the other hand said Money Smart™ has taught her how to use bank facilities such as the ATM and learn about record keeping.

“Our teachers also taught us how to be enterprising and more importantly, what we have saved last year we are now learning to grow that money through Invest Smart™, which we are currently

learning in Form 4.”

Invest $mart™ as you all are aware, is the second part of the two year financial literacy programme taught at the Form 4 level in all secondary schools throughout Fiji. Money $mart™ is taught in Form 3. Both are taught as part of the Commercial Studies curriculum.

The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) named FDB’s Money $mart™ programme one of two winners under its Human Capital Development Category. The recognition is part of ADFIAP’s annual Outstanding Development Projec t Awards which honours ADFIAP members who have undertaken and/or assisted projects that have created a developmen t impact in their respective countries. The awards are givne to members, which in the judgment of the ADFIAP Awards Board, have implemented or enhanced outstanding and innovative development projects during the immediate past year.

On Tuesday next week (19/07), Wainibuku Secondary school will be presented the Remote Category Award.

Earlier this week (12/07), Rampur College was awarded the 2010 Rural Category Award for Money Smart.

The Very Remote Category, which has been won by Ratu Finau Secondary School in Lakeba, Lau, will receive their award at a later date.

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