Educating the youth to achieve financial independence
Understanding how to manage money and safeguarding oneself financially from unforeseen events are skills that every young individual ought to learn. With this firm conviction, MUA is committed to supporting JA Mascareignes on its mission to promote budgetary and financial literacy programs. Such support comprises both financial assistance to the organization as well as the collaboration of the insurance group's employees in delivering the courses. On June 21 and 23, two MUA employees shared their financial expertise with a group of 30 students from the MITD Sir Kher Jagatsing Training Center.
During the training, entitled Managing your money smartly, Sanjeev Heman Oodhub, Loans Manager, and Kavinash Bunjhoo, Relationship Executive, taught these young people, aged 16 to 25, the importance of being financially responsible. Moreover, the two experts also shed light on how an insurance scheme provides a measure of security in case of unforeseen events. The session was a dynamic one during which the students candidly posed many questions. "Being financially literate is the key to making the right decisions and avoiding the debt trap. As a responsible insurer, we strongly believe that a young person should learn, as soon as they reach the working age, how to budget and invest towards achieving their goals. This is a sound practice that ensures a stable life and ultimately protects them," says Sanjeev.
Under its CSR initiative, led by the MUA Foundation, the insurance group allocates time for its employees to engage in volunteer work outside of the workplace. With this approach, MUA intends to fully assume its social role and encourages its employees to engage in action. About ten personnel have volunteered to put their knowledge and expertise at the service of NGOs involved in the promotion of financial education. Since the beginning of the year, several training sessions were held at various institutions, among which, one was organized for the students of Rodrigues Polytechnic in April. This year, the MUA Group is also financially sponsoring the JA Mascareignes to the tune of Rs 200 000 for the delivery of these courses.