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Khazana Foundation: Open a new Khazana branch to teach 100 marginalized children financial skills

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€ 27.993,50

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Open a new Khazana branch to teach 100 marginalized children financial skills
 
The Khazana Foundation works in the slums of Mumbai to help children become financially literate, by providing them with a system to manage their financial lives and support them with basic social and livelihood needs and education. The foundation provides the children with a savings account, teache them about longer- term goals, provides education about the banking system and how money works. Through a number of ‘bank branches’ children can manage their accounts and save small quantities of cash.
When they are 18 years old, they qualify for a bank account in the normal financial system.
 
Mumbai's economy has continued to boom since the last three decades. The megacity has become the 12th richest city in the world in 2018. Behind this impressive figure hides a whole different reality: the growing gap between rich and poor. Indeed, 12 million people (which represents 55% of the Mumbai population) are living in dilapidated conditions in informal settlements better known as slums. 
 
Among these slums’ inhabitants, we can find 60% of children. Many of these children sleep under bridges and eat what they find in rubbish bins.
They are often unregistered and their chance to break the cycle of poverty is limited. The Khazana Foundation has chosen to help them break this vicious circle by providing them with basic financial skills and savings accounts.
 
With its 20 000 small-scale manufacturing units and thousands of unregistered businesses, the 2000 Mumbai slums are a world in itself. A universe that the outside world is largely unaware of.
By teaching children entrepreneurial skills like how to write business plans, principles of accountancy, problem identification, interpersonal skills and bookkeeping skills, the Khazana Foundation empowers children to take control of their economic situation and their personal development. We believe that teaching basic business skills is important. By attending these courses, children will learn how to identify opportunities, solve problems, find collaboration, dare to innovate and trust their potential.
 
Whether it is to pursue studies at the university, find a decent job position in a business or even open a business, our objective is to help improve the future generation of children in the slums. 
Financial literacy is a first step towards breaking the circle of poverty they were born in and we do believe that it will help them chart their own path in life.
 
Goal:
The Khazana Foundation wants to open a new branch to reach even more children than the 452 we already support in Mumbai slums.
 
Cost:
The donations will be used to pay finance professionals to teach 100 children financial skills and personal development skills in the new location of the Khazana Foundation in Mumbai, India. The money will also be used to open the learning center. By being members of the
Khazana Foundation, children will also benefit from scholar facilities and warm meals.
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