Visa partners with INJAZ Egypt to promote financial literacy

By Leandra Monteiro

Visa continues to invest in capacity building and financial literacy as an empowerment tool for female students. In its latest collaboration, Visa supported two new programs titled “Personal Economics” and “San3ety  Schools Program”, both programs aimed to upskill young girls by giving them the financial skill set needed to succeed in the digital economy. The program is aligned with Visa’s continuing efforts to address unequal access in society.

Visa’s Senior Vice President and Group Country Manager for North Africa, Levant and Pakistan (NALP) region, Leila Serhan, and CEO of INJAZ Egypt, Dina El Mofty signed the agreement in November 2022, to launch the program in four vocational schools in Egypt, providing young Egyptian girls from the age of fourteen, with training on how to build a financial mindset, developing a financial coping behaviour, conquering setbacks in business, and developing financial empowerment and independence.

“As a financial technology company, we believe in the power of financial knowledge and empowerment at an early stage. We believe it is crucial to work with organizations that support and nurture talent from marginalized groups,” said Malak El Baba, Visa’s Country Manager for Egypt and Injaz Board Member. “The World Bank’s Women Economic Empowerment Study has clearly revealed that women are lagging in the use of finance, and this makes them disproportionately more vulnerable than men. Through our various initiatives, we aim to help young girls in Egypt build their confidence in joining the global workforce, increase their chances of inclusivity in business ventures and ultimately succeed in their pursuit of future economic independence.”

The grant opportunity outlines a two-phase framework. The first phase titled “Personal Economics” focuses on introducing participants to theoretical and practical lessons in financial planning, budgeting, spending, and saving decisions to help them develop initial investment growth skills. A total of 100 participants will be selected for this one-day session.

The second phase – the “San3ety Schools” program – aims to bring together teams of young women-led business start-ups to pitch their potential business in a simulated demo day. Fifty participants divided into 10 teams will be short-listed and invited to compete in a pitch-round battle before a live jury panel. Teams will be expected to present a clear business value proposition and demonstrate how they aim to maintain long term profitability. The best three pitches will be selected by the jury based on the strength of the presentation in addition to performance metrics. A data-driven narrative progress report is to be completed and submitted towards the end of the program date. The winners will also receive investment certificates which they can use publicly.

Visa continues to support girls and women through different programs funded by Visa Foundation and Visa Inc. like the EFE Job Placement and Entrepreneurship Program and She’s Next, Visa’s global flagship program for women led SMBs.