HFC Launches Enidaso Account For Children

HFC Bank (Ghana) Ltd., has launched the latest youth save product dubbed ‘HFC Enidaso Account’, designed for the youth between the ages of 12-18 who are either in or out of school.

“Start Tomorrow Today”, is the pay-off line for Enidaso Account. The account is aimed at inculcating the habit of saving into the youth by helping them to save a part of their pocket money or money gifts to cater for their basic needs and education expenses as well as other expectations.

The product was outdoored at the Kotobabi No. 2 cluster of schools at Baatsona, off the Spintex Road in Accra.

Mr Charles Ofori-Acquah, the Executive Director of HFC Bank, in charge of Business Development said an extensive research on the youth led to the creation of the Enidaso account as a custodial account which affordeded the youth the opportunity to operate their own account under the supervision of a trusted adult.

“Youths who are eighteen years of age however do not require a trusted adult to operate this account” Mr Acquah added.

He said as a bank, HFC recognises the importance and benefits of savings and considered it essential for the youth of today to cultivate a savings habit at the early stage of their lives.

“We believe that this product will not only encourage savings in the youth but also introduce the youth to the banking sector in preparation for adulthood”.

Mr Acquah therefore encouraged the youth, parents and guardians to take advantage of the Enidaso account .

The Tema Metro Director of Education, Mr Kwesi Hutchful, also encouraged children to take advantage of the opportunity given them by HFC Bank to be part of the process of securing a good financial future .

He stressed on the benefits of savings and congratulated the management of the bank for the laudable initiative to inculcate the investment culture in the youth.

The Enidaso Account is part of a Youthsave Project which is an initiative led by Save the Children in partnership with the Centre for Social Development, at the Washington University in St. Louis USA, aimed at promoting financial asset building for the youth.

The Kotobabi No.2 Primary School, a constituent of the cluster, is a pet school of HFC Bank. The bank cut the sod for the expansion work of the school in 2010 as part of activities to mark its 20th anniversary in the banking industry in Ghana. It formally inaugurated the modern six classroom block for the community at the beginning of 2012.

Hundreds of basic school children gathered at the launch where they were not only educated and counselled on basic financial literacy and the importance of the ‘Enidaso Account’ but also feted with an impressive entertainment of music, ‘azonto’ dance competition and snacks.