Schoolable, a financial service provider for schools, recently launched an App called “Little” and tagged a better way to give children money at the launcheon.
This comes as there arises the need for parents to give their children/ wards money digitally anywhere they are, anytime and also to raise financially responsible children in Africa.
Also with incessant cases of children in boarding schools who have no where to keep their pocket money which are sometimes stolen by room mates or porters. But with schoolable inventing an app called “Little” in order to solve these problems, both parents and wards can now hieve a sigh of relief that solution to their nightmare is at hand.
According to the CEO of Schoolable, Henry Nnalue, he explained that Little is a solution that provides a better way for parents to give their children money. And that it comes with a debt card for children and a mobile app for parents to monitor their children’s money habits.
Nnalue further explained that Little gives children an opportunity to learn good money habits as they grow into financially responsible adults while parents create interesting ways for their children to learn good money habits.
The CEO of Schoolable further pointed out that they are just launching the App, while it has already started operating in Queens College Yaba, where they first experimented the product.
Adewuyi Adedamola, the PTA Chairman of Queens College explained that Little has transformed the financial landscape of the college, by promoting financial literacy in secondary schools/boarding schools, students can now keep their money safe.
Their money is in cards which have their password and have a limited amount to be used daily , parents now monitor their children’s expenditure because parents get an alert for every transaction made by their kids including the security of the children especially their movements, in and out of the school premises.
He explained that it’s user friendly and already a culture in Queens college and has reduced money stealing in the school.
He encouraged other schools to embrace this innovation although it has been introduced in some schools around.
According to the Co-founder of little Angela Essien, money skills is one of the reasons little was created, Little will help the children to become financially responsible.
“ We hope to create a generation of children that know how to manage money. A generation of children that have financial literacy from a practical approach, not a theoretical standpoint, who grow up to become financially responsible adults” she said.
Parkway is the financial service provider of this App.
They manage the kids wallet and the kids get bonuses and points.