| Central bank targets high schools in awareness drive |
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| Written by Staff Reporters | |
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The Bank of Namibia wants high school students to understand the role the bank and its functions play in the economy. It has since launched the 2008 High School Competition. The aim of this competition is to inform and educate students about the vital role that the bank, as a central bank, plays in the economy of the country. Up to 600 secondary schools across the country will have the opportunity to participate and win a grand prize of N$50 000.
“This initiative of the Bank of Namibia is a welcoming development. I
would like to congratulate them for undertaking this valuable
initiative. I have no doubt that this competition will prove to be an
important milestone in the area of financial education for our
country,” said Nangolo Mbumba, Minister of Education in his keynote
address at the official launch.
Mbumba said the ministry has endorsed the competition. “We are happy to announce that the Bank of Namibia will host this competition for the second consecutive year and we are equally excited at the prospect of yet another successful event of such great magnitude as we continue to educate the public, in particular learners throughout the country. By hosting the Bank of Namibia High School Competition we, at the Bank of Namibia, also hope to make a valuable contribution in educating learners about the role of the bank and other related topics,” said Tom Alweendo, Governor of the Bank of Namibia. Participating schools will receive copies of a Bank of Namibia booklet called “The role of the Bank of Namibia in the economy”, as well as an extract from the Bank of Namibia 2007 Annual Report focusing on the “Operations and Affairs of the Bank”. Under training and guidance from teachers, learners will form four-member teams representing their schools and will study the given materials in preparation for the competition. The Regional Competition is scheduled to take place from 14 to 25 July 2008, while the National Competition will be held on 14 and 15 August at a grand finale event in Windhoek. Any secondary school registered with the Ministry of Education and any learner from grade 8 to 12 may participate in the competition. The winning school in the grand finale of the competition stands the chance of winning a total of N$50 000, while the runner-up will walk away with N$30 000. This year, the bank will also award the finalist in the third place with N$10 000. |
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