Financial literacy for girls in Indonesia and Philippines through Visa partnership8 March 2023
Plan International has partnered with Visa, the world’s leader in digital payments to improve the financial and business literacy of girls and young people in Indonesia and the Philippines.
The partnership aims to boost financial education among youth and young entrepreneurs from disadvantaged backgrounds and build on the combined strengths of both organisations to help girls take better control of their careers, lives and future.
As the key to unlocking economic growth in many developing markets, young people need to master crucial financial knowledge to maximise and create their own opportunities. Financial literacy has proved to be a core life skill for individuals to participate in an increasingly complex society, to better manage their money and improve their quality of life.
However, low levels of financial literacy can hinder this potential. Improving awareness and skills on financial management, especially among young people transitioning from school to wage employment and small-scale entrepreneurship, therefore is essential.
About the partnership, Vice President of Inclusive Impact and Sustainability at Visa, Patsian Low said, “At Visa, we believe empowering young people, especially girls, with knowledge of formal financial systems has significant economic benefits.
Skills for financial independence
“Our partnership with Plan International will impact the lives of thousands of young people by providing them with education and skills that will enable them to become financially independent adults who contribute meaningfully to their families and communities. This is just one way we are delivering on our purpose to uplift everyone, everywhere by being the best way to pay and be paid.”
Girls and young women especially need useful financial literacy, namely how to manage their finances, pursue income opportunities, pay for expenses, and plan for the future, to facilitate their transition into living independently and boost their capacity to make decisions for themselves.
“Having access to useful and affordable financial products and services that meet their needs, delivered in a responsible and sustainable way ensures that vulnerable and excluded young people, especially young women, are resilient and are actively engaged in decent work of their choosing,” said Bhagyashri Dengle, Plan International’s Executive Director for Asia-Pacific.
“Plan International strongly believes that our partnership with Visa will contribute significantly to strengthening market-driven skills, promoting financial inclusion, and building resilience that enables young women to compete in a 21st century labour market.”
App provides financial literacy education
In the Philippines, this project aims to enhance and localise the financial literacy content in Plan International’s ‘Hope Town Hero’ app. Aside from work readiness skills, the app also teaches basic financial literacy skills such as building a healthy money mindset and it has an in-game tool that lets learners create financial goals and their monthly budget.
Visa’s financial education modules will be integrated into the offline-capable, game-based app to amplify the reach, quality and impact of the programme. The project will reach 5,000 young users and will be implemented along with other youth economic empowerment and disaster reduction and management programmes in Bangsamoro Autonomous Region in Muslim Mindanao, Tacloban, Cotabato and Metro Manila.
“The Hope Town Hero App captures the interests and hobbies of youth on digitalisation. With the scenarios and interactive activities embedded in the app, we learn more about financial literacy and practical skills while enjoying the mini-games in a safe digital environment,” shared Mohamidin, a 24-year-old youth leader from the Philippines.
Online and offline networks boost skills
In Indonesia, Visa’s Practical Money Skills and Practical Business Skills platforms will be part of Plan International’s signature Girl’s Leadership Academy (GLA) programme. The GLA workshops will provide a solid foundation of financial literacy for 50 girls and young women to transition from dependent to independent roles in financial responsibilities.
In addition, Plan International will reach out to around 10,000 young people – including 7,500 girls – to provide access to financial and business education via social media learning channels. Plan International builds a network consisting of girls and young women across Indonesia, especially to reach those in rural areas, so they can have equal opportunities to learn.
For interviews and further information:
Pham Trang Nhung
Asia-Pacific Regional Hub Media Coordinator
ABOUT PLAN INTERNATIONAL
Plan International is an independent development and humanitarian organisation that advances children’s rights and equality for girls. Working together with children, young people, our supporters and partners, we strive for a just world, tackling the root causes of the challenges facing girls and all vulnerable children.
Plan International has been operating in Asia-Pacific since 1948. We work in 15 countries, helping thousands of very poor communities to fight child poverty and help children realize their full potential.
ABOUT VISA INC.
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
Skills and work, Corporate partnership, Financial literacy