Many children dream of becoming entrepreneurs when they grow up, but very few start as early as, Jose Adolfo Quisocala Condori, a Peruvian boy who started a children’s savings bank when he was only 7 years old. Today, his bank serves over 2,000 clients and offers various financial services.
Jose got the idea for a children’s savings bank six years ago, after noticing that many of his peers were spending their money on sweets and toys, instead of saving it for more meaningful purchases. Despite his young age, he understood that saving money and accessing the financial system were two ways that adults – like his parents – solved many of their financial and social problems, so he decided to make them available to kids as well. He then started thinking of ways that children could generate money without the help of their parents, and recycling seemed like the obvious answer. Jose was sure that he was on to something, but when he pitched his idea for a children’s bank to his teachers, he was told that a 7-year-old couldn’t handle such a project. But he proved them all wrong.