Nedbank launched a game on the Roblox gaming platform four months ago, and it has already attracted 75 000 gameplay sessions, with sessions increasing daily.
The game also features in the top 10% in terms of total numbers and session time of Roblox games offering similar experiences.
Chow Town by Nedbank was created in conjunction with Sea Monster Entertainment. Allowing players to set up and expand a start-up takeaway joint through incremental investment, the game has been designed to nurture entrepreneurial skills and guide young people in making good money choices. Roblox is popular with the 9-12 age group, providing a learning environment that will engage their attention and facilitate the learning of valuable life skills.
Over the past weekend, 29-30 July, Nedbank hosted some 302 tweens at a specially constructed Chow Town experience inside Bounce at the popular Fourways Mall.
At an adjacent panel discussion of experts, Buli Ndlovu, executive head of retail and business banking marketing at Nedbank, said: “One of the best gifts we can give our children is a solid appreciation of the value of money and how to earn it.”
Stelios Vakis, CIO for Nedbank Africa Regions, adds: “To achieve that goal, we realised that, as a bank, we needed to leverage the power of gaming to drive home the message of entrepreneurship and financial education in a way that made the experience fun, so that it will take root. Our young people increasingly live in the metaverse, so that’s where we have to go and find them.”
Lebo Lekoma, head of client services at Sea Monster, comments: “Sea Monster Entertainment is proud to join forces with a leading digital bank, our core game loop focuses on invest, upgrade, build, and earn, which imparts essential concepts of investment and money management within an immersive restaurant management experience. With this unique approach, we ensure that learning becomes an exciting and valuable experience, empowering young minds for a successful future. Together, we bridge the worlds of gaming and banking, creating an educational journey that is both empowering and enjoyable.”
Dr Frank Magwegwe, executive head of financial wellness and advisory at Nedbank, stressed the importance for Nedbank to continue improving the financial education of our youth. He argued that financial education was the first step in driving financial inclusion, and thus facilitating the entry of more South Africans into the economy.
“Gaming offers an unparalleled way to provide an active and effective learning experience in a risk-free environment,” he said. “Chow Town is a lot of fun, but it also simulates real-life financial and business situations. By responding to those situations, players can learn important skills, like financial planning, and get to grips with important concepts like delayed gratification.
“Given the popularity of financial games for all age groups, one can readily see just how learning can become a lifelong – and highly enjoyable – pastime.”