Ricochet News

Innovative World Savings Day competition gets local kids to save

By Nicky Willemse - Oct 8, 2018
Innovative World Savings Day competition gets local kids to save

In a bid to teach South Africa’s children to save money – in a country where most people don’t – Nelson Mandela Bay businesses have teamed up to launch a unique piggybank competition.

The Coink 2018 PiggyBank Design Challenge, which was launched on October 6 at the PE Express First Choice Kids and Baby Expo, calls for youngsters aged seven to 13 to design and make their own weird and wacky piggybanks, using only recycled materials.

According to South African Reserve Bank figures, the average South African saves just 0,2% of their income.

“We don’t have a culture of saving in this country … This is a creative way for kids to get into the habit of saving money from a young age, and watch their money grow,” said Young Entrepreneurs’ Ansulene Prinsloo, who is spearheading the competition with partners Old Mutual and Walmer Park.

“The kids can be as creative and innovative as they want, as long as their piggybank is within the size parameters (30cm x30cm x30cm) and allows for the insertion and removal of money without having to destroy the piggybank … It also does not have conform to the shape of a pig.”

Top learners to receive Old Mutual money accounts

The top-placed learners in two age categories – seven to nine years, and 10 to 13 – will receive Young Entrepreneurs programmes to the value of R10 000, Old Mutual money accounts to the value of R3,500, along with 10 hampers provided by Walmer Park and Old Mutual.

“We don’t mind if the entrants turn to Google for inspiration – but we want it to be their work, with very little or no assistance from their parents … We don’t want them to buy materials but to create their piggybank from whatever they have lying around at home or in their neighbourhood, such as wood, cardboard or plastic bottles – but no glass.”

Entrants have a month to come up with their creations, which must be handed in at Young Entrepreneurs at 87 Main Road, Walmer, any day from October 31 (which is also World Savings Day) to November 7.

All the entries will be on display at Walmer Park Shopping Centre on 10 and 11 November – with winners announced at 11am on November 11. “There will also be a ‘people’s choice’ winner, which the general public will vote for.”

While most entrants will be able to take their piggybanks home and start saving, the winning designs will be auctioned off at a separate function, to raise funds to enable 40 underprivileged children to attend the Young Entrepreneurs programme.

“As part of our community outreach initiative, we are already offering the YE programmes at Charles Duna and Uitenhage primary schools, but we would love to add more schools,” said Prinsloo.

  • Entry forms for the Coink 2018 PiggyBank Design Challenge are available at the Young Entrepreneurs offices, and Walmer Park Shopping Centre (info desk), or online at: ww.younge.co.za. For more information, contact: piggybanknmb@younge.co.za or 076 456 9396. Entrance is free, and one submission is permitted per child.

Image: A PIGGY CALLED COINK … Running a competition that encourages kids to design and make their own piggybanks – and then use these to save money are (from left) Walmer Park Shopping Centre marketing manager Deveda Bloem, Young Entrepreneurs event organiser Carmen Taljaardt and Young Entrepreneurs (Nelson Mandela Bay) franchise owner Ansulene Prinsloo. Old Mutual is also a sponsor in the competition, which runs for the month of October, coinciding with World Savings Month.

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