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Entrepreneurial skills breed resilience

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€ 27.993,50

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With this project, the Khazana Foundation aims to teach entrepreneurial and personal development skills to more than 250 children at the foundation's six locations in Mumbai, India. Its mission is to provide basic financial skills.

We believe that education is empowering and that access to financial practices is essential to building a better life. We help children become functional economic citizens by helping them understand finance, develop basic skills, and demonstrate how the financial system works and how to navigate it. We believe that these skills are needed at all levels of society and especially in groups that have less opportunity and are vulnerable and open to exploitation. The focus of this project will be to give children entrepreneurial training.

Breaking the cycle

Mumbai's economy has continued to boom over the past three decades. Behind this impressive growth, there is a very different reality: the growing gap between rich and poor. 41% of Mumbai's population lives in dilapidated conditions in informal settlements known as slums.

More than half of the slum residents are children. Many of these children are frequently unregistered and their chances of breaking the cycle of poverty are limited. The Khazana Foundation has chosen to help them break this cycle by providing them with basic financial skills and savings accounts. The foundation has provided  470+ children with a savings account, teaches them to set longer-term goals and educates them about the banking system and how money works.

A world unto themselves

Keeping children interested in education, when there are so many other life priorities is not always easy. Especially the age group from 15 years onwards. With its 20,000 small manufacturing units and thousands of unregistered businesses, Mumbai's 2,000 slums are a world unto themselves. A reality that the outside world is largely unaware of.

By teaching the older children how to write a business plan, principles of accountancy, cost price calculations problem identification and problem-solving, the Khazana foundation empowers children to take control of their economic situation and their personal development. By attending these courses, children will learn how to identify opportunities, solve problems, find collaboration, dare to innovate and trust their creativity!

The final objective of the course is to give children a solid foundation to find a job or create their own business, to become self-reliant.

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