iDebate Rwanda, in partnership with BK Foundation, the philanthropic arm of BK Group, awarded two secondary schools’ student on Saturday, June 15 2024 for their innovative and impactful projects as part of the Money Makeover Challenge. This hands-on financial literacy competition aims to equip students with Practical Financial Literacy skills and Job creation mindset especially for young generation.
Nine schools have been participated in this competition, each represented by three students who presented their projects.
Stella Matutina Secondary School emerged as the winner, receiving Rwf900,000. The first runner-up, College Sainte Marie Reine Kabgayi, was awarded Rwf450,000. Additionally, all participated students received Rwf50,000 that will be deposited to their saving accounts in Bank of Kigali as role of BK foundation in encouraging young generation the culture of saving.
Aristarline Umwamikazi, a student at Stella Matutina Secondary School and representative of the winning team, explained their project: "We conceived an innovative initiative that could benefit everyone. Recognizing the potential uses of discarded sugarcane waste and considering Rwanda's efforts to eliminate plastic due to its harmful effects on soil, we aimed to address both issues simultaneously.
"We researched how other countries repurpose sugarcane waste and decided to bring a similar idea to Rwanda. Our project involves transforming sugarcane residues, after the juice has been extracted, into biodegradable plastics. These eco-friendly products do not harm the soil or the environment, offering a sustainable solution to waste management and plastic pollution. We believe this is a good answer to many problems in the country.”
Reflecting on their experience with the competition, Umwamikazi mentioned that the initial training provided them with valuable financial knowledge.
"There were many things we did not know about money, but after the introduction to the Money Makeover Challenge, we learned so much more, and we are not going to stop here. We plan to use the prize money to seek partners and bring our project to life," she added.
Keza Ketsia, the founder and coordinator of the Money Makeover Challenge, explained how she came up with the idea and shared that her curiosity about money, not just wanting it but understanding it, inspired her to develop the programme.
"I always wondered why we learn so little about money. We learn about entrepreneurship, taxes, and the qualities of an entrepreneur, but we do not really discuss money itself. We do not learn how to get a loan from a bank or about investments. These are things you learn the hard way, facing poverty and the real world. The Money Makeover Challenge was born from the realization that financial literacy is essential."
Keza stressed the importance of learning about financial education in school, where students can openly discuss and question money policies, understand their significance, and how they impact different groups in society.
She added that education is the key to a financially inclusive and healthy life. Recognising the gap in practical financial education, she created the Money Makeover Challenge to provide a platform where students can apply what they learn in real-life scenarios.
Beata Uwamaliza Habyarimana, CEO of BK Group Plc, congratulated the winners and every school that participated, noting that Keza's vision aligned perfectly with BK Foundation's mission.
"We believe youth should engage in financial literacy early on, and as BK, we prioritize giving back to society with education as our core pillar. Education is crucial for uniting and empowering our young, innovative population, shaping Rwanda's future success."
She highlighted that BK Group is deeply committed to educational initiatives, particularly at the secondary school level, recognising the importance of early investment in youth development.
Habyarimana praised iDebate Rwanda for their impactful work, saying, "You are truly making a significant contribution to our country. The path you are creating is invaluable. I would like to congratulate iDebate Rwanda for everything you are doing."