New scheme to benefit future leaders
30 January 2014, 10:33
Nairobi - Local youth are set to benefit from an initiative one of the continent’s leading financial institutions has launched.
The Future Leaders Academy aims to empowering the youth with the vital financial skills needed to develop and manage wealth in the future.
“We need to empower the youth with the skills to grow assets, manage their investments and understand the critical aspects when it comes to all round financial planning from an early age,” said Margaret Nienaber Chief Executive of Standard Bank’s Private Clients business.
Currently, the Future Leaders Academy is targeted at the 18 – 24 year age group but based on the feedback the company has received, Nienaber said Standard Bank would be looking at launching an Academy for the younger age group shortly.
She said this would launch in London, United Kingdom to cater to the needs of our global client base, including clients from Kenya and Nigeria.
According to her, initiatives like the ‘Future Leaders Academy’ are vital today more than ever, as seen in the June 2012 Pershing Report established that Generation Y investors would inherit more than $41trillion in assets by 2052 and that 29 percent of wealth investors today were under the age of 50 and control 37 percent.
“We called it the Future Leaders Academy and not the Wealth Academy because we understand that success is not purely defined by Wealth. For us it’s critical that we provide these Future Leaders with the necessary financial skills to carve their own path and create their own destinies, also recognising responsibilities and opportunities around philanthropy,”
– CAJ News