The Prudence Foundation – through Prudential Cambodia in partnership with the Child Rights Foundation and the Ministry of Education, Youth and Sport – this month launched its flagship Cha-Ching Financial Literacy for Children Phase II programme, under the name “Cha-Ching Money Smart Kids”.
The ceremony in Kampot province was presided over by HE Chan Sophea, director of the Primary Education Department at the Ministry of Education Youth and Sport, and HE Khiev Rithyphon, Kampot province deputy governor.
The announcement confirms a further three-year partnership to improve Cambodian children’s financial literacy, with the programme aiming to equip children aged seven to 12 with the knowledge, tools and practice they need to make financial decisions to reach their personal goals and dreams.
Cha-Ching Phase II expands on the success of Phase I, which was implemented from early 2019 to early 2022 in Phnom Penh and Kandal and Kampong Cham provinces, with 150 primary schools involved.
The project benefited 39,889, students, 10,704 of whom were girls, and involved 581 teachers, 150 school directors from 150 target schools, 289 parents and 69 government staff.
Phase II will expand to 150 new target schools in Kampong Cham, Kampot, Kandal and Siem Reap provinces, and Phnom Penh.
As well as the expansion, a main expected outcome from Phase II is have the Cha-Ching curriculum officially integrated into Cambodia’s national primary curriculum and implemented across the Kingdom.
“On behalf of the Ministry of Education Youth and Sport, I am delighted to be launching this event, and I would like to express huge support for the Cha-Ching Money Smart Kids Phase II programme.
“I would like to encourage everyone to work responsibly and professionally for the programme, with unity and understanding, to benefit our children and society as a whole,” said HE Sophea, who is also deputy general secretary of the Committee for Youth Development.
Freddie Wong, chief actuary at Prudential, said at the launch ceremony: “Making health and financial security accessible to all Cambodians is incredibly important, and one way to do so is to increase financial literacy among the younger generation.
“Our goal is to ensure that they have good understanding of money management from a young age to help them make more informed financial choices later in life.”
“I am very happy to see that this Cha-Ching curriculum has been very well received by the Cambodian children, and to see the programme expand.”
Cha-Ching Money Smart Kids aims to tackle financial literacy gaps using a blended learning approach and the leveraging of digital tools and platforms, as well as the school environment.
Chen Tepsamol, executive director of the Child Rights Foundation, said: “Financial education for children in Cambodia is very important to fill the gap of financial illiteracy and promote financial management in the future, especially for children aged seven to 12 in primary education.
“Our aim in this Phase II is to promote financial education widely in Cambodia. I would like to give thanks to the Ministry of Education, Youth and Sport for creating a good, enabling environment for Cha-Ching’s implementation and expansion.
“And thanks also goes out to the Prudence Foundation, for both its financial and technical support for the implementation Cha-Ching.
“On behalf of the Child Rights Foundation, I strongly commit to delivering the programme with good results for positive change in financial literacy in Cambodia.”
Cha-ching is a global financial education and responsibility program aimed at children aged between 7 and 12. The program aims to tackle financial literacy gaps using blended learning approach, leveraging digital tools and platforms as well as the school environment.