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    You are at:Home»Africa»Old Mutual introduces ‘financial edutainment’ platform in South Africa to elevate financial literacy

    Old Mutual introduces ‘financial edutainment’ platform in South Africa to elevate financial literacy

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    By Tapiwa Matthew Mutisi on October 10, 2024 Africa, Business, Content, Education, Innovation, Insurance, Report

    Old Mutual, a prominent insurance firm based in South Africa, has recently unveiled Moneyversity Plus, an innovative financial education platform designed to enhance financial literacy among individuals. Since its soft launch in June 2024, the platform has quickly gained traction, attracting over 60,000 users and amassing 8.8 million views. Notably, its reach has extended beyond South African borders, drawing users from countries such as the Netherlands, UK, USA, and Namibia.

    Moneyversity Plus merges financial education with the appeal of streaming entertainment, making it easier for users to access and engage with educational content. The platform’s AI-driven recommendation engine tailors the learning experience to each user, making it both informative and enjoyable. Old Mutual has tailored Moneyversity Plus for the local South African market but plans to broaden its scope to other African countries, acknowledging the widespread need for financial education globally.

    In South Africa, where only 51% of adults are considered financially literate, Old Mutual sees it as imperative for the financial sector to play a pivotal role in educating citizens about the significance of their financial choices and how to safeguard their assets, especially during tough economic times. Moneyversity Plus offers a comprehensive range of training and resources suitable for individuals at various life stages—from young children learning about money for the first time, to adults navigating major financial milestones such as buying a home, opening their first credit card, or planning for retirement.

    The platform aims to foster responsible investment and planning practices, equipping users with the knowledge and tools necessary to improve their financial well-being and security. The platform breaks down complex financial concepts like savings, retirement, and insurance into simpler terms, making it a valuable resource for educators and institutions seeking to enhance financial literacy among learners.

    Engagement with the platform is incentivized; as users consume content and complete financial literacy tasks, they earn Old Mutual Rewards points. These points can be redeemed for various rewards at over 50 partner outlets. For younger users, rewards are designed to be age-appropriate, such as “Skip Chores” vouchers that can be printed and redeemed at home. Teenagers have access to content covering topics like online safety, entrepreneurship, and the importance of further education.

    In addition to Moneyversity Plus, Old Mutual is expanding its offerings across Africa. Just two days prior, the company launched a Mobile Virtual Network Operator (MVNO) in partnership with Cell C. This move aims to enhance connectivity for the lower-income market segment by providing competitive mobile services and offering customers exceptional value in data packages.

    Old Mutual launches MVNO service on Cell C network amid sector growth

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    Africa AI artificial intelligence Business Content Education Financial literacy innovation Insurance Moneyversity Plus Old Mutual South Africa
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    Tapiwa Matthew Mutisi
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    Tapiwa Matthew Mutisi has been covering blockchain technology, intelligent technologies, cryptocurrency, cybersecurity, telecommunications technology, sustainability, autonomous vehicles, and other topics for Innovation Village since 2017. In the years since, he has published over 4,000 articles — a mix of breaking news, reviews, helpful how-tos, industry analysis, and more. | Open DM on Twitter @TapiwaMutisi

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