Financial literacy program launched
Financial technology (fintech) platform Cashalo has rolled out “Cash Academy,” a national financial literacy program that aims to develop a “more financially knowledgeable, responsible and empowered” generation of Filipinos.
Cashalo has codeveloped eight learning modules that cover basic financial concepts like budgeting, money management and credit. It also offers training on the responsible and efficient use of financing for microentrepreneurs to start and grow their small businesses.
In partnership with ASSIST Asia, Google, the Department of Trade and Industry (DTI) and Go Negosyo, Cashalo has delivered online and offline financial literacy and business skills training through the beta phase of the Cash Academy initiative to more than 10,000 Filipinos to date.
Cashalo general manager Hamilton Angluben said: “Millions of hardworking and underserved Filipinos are held back from building a better life because of poor financial literacy and access. By equipping every Juan with basic foundational knowledge through our Cash Academy financial literacy program, we strive to empower them with the skills, confidence and opportunity to take control of their financial future. Our programs are designed to be easily delivered where people are, scalable nationwide and help drive socioeconomic contribution through financial autonomy.”
A dedicated microsite www.CashAcademy.ph hosts these learning modules in the form of short videos, which can also be accessed via YouTube. After watching these, visitors will be invited to take a localized version of the World Bank’s 7-point financial literacy quiz that gauges their basic financial understanding and know-how. Those who pass the quiz will be given a digital certificate to signify they are financially literate.
Cashalo intends to scale the program nationwide through partnerships with public and private sector organizations. Over the last year, Cashalo has formed alliances with various enablers such as the DTI’s SME Roving Academy, a learning program promoting the competitiveness of micro, small and medium enterprises. —DORIS DUMLAO-ABADILLA
