Nedbank continues its drive to bring vital financial literacy and money management tools to South Africa’s youth with a 5-week campus blitz.
These exciting activations are aimed at first- and-second-year students during X-week, aptly derived from the traditional orientation week or O-week.
This year, the YouthX by Nedbank Team is helping the youth unlock their X (potential) at Wits, Tshwane University of Technology, Nelson Mandela University, University of KwaZulu-Natal (Westville) and the University of Venda.
‘Our drive aims to take the bank to the youth, rather than wait passively for them to come to us. As financial experts who do good, this is important to us and we can’t leave it to chance,’ says Buli Ndlovu, Executive Head of Retail and Business Banking Marketing at Nedbank.
YouthX by Nedbank is committed to making a real difference in young people’s lives and helping them to secure their financial futures.
‘Financial literacy is an essential tool for a successful life, and Nedbank is really committed to making sure it plays its part in educating the youth about the need to make better money choices early every time they spend, borrow or invest,’ says Buli. ‘Whatever a student’s X is – studying, building a solid side hustle, researching career options –Nedbank is there to lend a hand.’
Each campus visit lasts 4 days, and the Nedbank X-week stand features not only professional bankers to help the students choose the right banking products, but also opportunities to have some fun with friends and win prizes, including a tablet. It’s all part of an ongoing strategy to put Nedbank and its specially designed offerings into youth spaces where it will make the most impact.
The bank has also had a presence at the popular youth-oriented music and talent events Cotton Fest and Hey Neighbour.
To complement its youth programme, Nedbank created the MiGoals suite of digital-first products aimed at helping South Africans manage their finances with products that are both cost-effective and fit for purpose.
For example, the basic MiGoals product offers simple, low-cost pricing – a low R5 monthly fee; a flat R1 fee for the purchase of prepaid airtime, data and electricity; while the fee for cash withdrawals at retailers, debit orders and electronic account payments is an affordable R2. Accountholders also qualify for a 50% discount at NuMetro.
Nedbank helps the youth stay ahead of the game as they navigate the next stage of their life after graduation.
MiGoals offers them a way to access more sophisticated offerings in line with their growing financial needs via MiGoals Plus and Premium Accounts.
‘We want to continue unlocking the youth’s potential as they evolve into young professionals building successful careers, pursuing their business ventures and living their best lives,’ Buli says.
The initial X-week activation at Wits proved to be a huge success. The Nedbank stand attracted significant foot traffic with the captivating buzz around the game-show element catching everyone’s attention.
Most importantly, our financial literacy efforts led to over 350 students signing up for MiGoals accounts – the first step in their journey to financial stability.
Students need bank accounts to transact daily and especially if they are getting NSFAS grants to fund their higher education needs.
‘Being there on campus, and in a way that resonated with the student vibe was important and was appreciated by the students on campus,’ Buli says. We realise that first- and second-year students are still under huge time pressures as they come to grips with the new campus experience, therefore, YouthX by Nedbank brings banking closer to them in a very approachable and convenient format.
A MiGoals account is easy to open and manage on your phone using the Nedbank Money app, a plus for the mobile-first generation. Students can also access Nedbank’s mobile platform, Unlocked.me, for free information and tools designed to help them unlock their X, at varsity or later in the world of work.
Unlocked.me offers expert career advice, insights into healthy money habits and a host of special deals on fashion, lifestyle, tech and travel.
It also offers the MoveUp tool, which opens up a range of courses to help individuals create a smart CV, ace a job interview or manage money wisely – all from their cellphone.
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