Central and Eastern Europe, Middle East, Africa
Visa has developed tailored financial literacy programs for the Middle East, Russia and South Africa. The success of these pilot programs has led to their use as a model for other countries.
Middle East
Visa has created a multifaceted program to teach individuals how to better manage their finances. The website, available in Arabic and English, covers financial basics such as budgeting, saving, bank account management, using cards wisely, online shopping and precautions against fraud.
In addition to the website, Visa developed educational materials for bank branches to distribute to their customers. Teacher-training materials branded with a financial wizard called SuperCal — “Mahsoobak” in Arabic — show students that financial literacy is fun and rewarding. Other components of the program include a planned National Financial Literacy Day and regional road shows in shopping malls. Visa is now working with governments and central and retail banks across the Gulf Cooperation Council to develop national campaigns.
Russia
The educational website “My Money Skills” gives consumers easy-to-use formulas and advice on compiling a monthly budget to avoid too much debt. The Russian version of “My Money Skills” is hosted on www.visa.com.ru and was launched by the Visa Russia Association, a cooperative group of Visa banks in the country.
South Africa
South Africa’s banking industry is committed to extending its services to all citizens, including many who have never had a bank account and have a limited understanding of financial management.
To reach these communities, Visa commissioned a play that builds upon a tradition of storytelling. Specially trained theater groups have taken the show to community centers and universities across South Africa where participants learn how to set up and use a bank account and the importance of staying within a budget.
The show’s success has led to similar programs in Zambia, Uganda, Botswana and Kenya.
