By OpeOluwa Okudero 
Mastercard, a leading provider of training solutions, has unveiled a new free online course called Master Your Card, Finance Demystified. The course aims to empower individuals with the financial knowledge needed to navigate personal finance tools and improve their financial wellbeing.
Nigeria, like many developing economies, faces a significant financial literacy gap, with a large portion of its population lacking access to essential financial knowledge. According to a 2020 EFInA report, only about 36% of Nigerian adults are financially literate. The situation is particularly pressing for women and young people, two demographic groups critical to Nigeria’s economic growth.
Closing the Financial Literacy Gap
Mastercard Academy’s new free course, Master Your Card: Finance Demystified, could play a pivotal role in addressing these gaps. With its global accessibility and focus on practical, interactive learning, the program offers Nigerians an opportunity to better understand budgeting, credit scores, and financial security, empowering them to make informed financial decisions.
Furthermore, the course aligns with the Central Bank of Nigeria’s drive toward financial inclusion, which aims to bring 95% of the adult population into the formal financial system by 2024. By equipping individuals with digital finance tools and knowledge, Mastercard’s initiative could help boost the adoption of digital payment systems, reduce reliance on cash, and foster economic participation in underserved communities.
In a country where fintech innovation is thriving, this program also offers opportunities for Nigerian businesses to leverage financial literacy as a means of connecting with unbanked and economy workers, fostering trust and loyalty. As the nation works to solidify its position as Africa’s largest digital economy, initiatives like this one demonstrate the transformative potential of public-private partnerships in empowering citizens and driving economic growth.
Susan Olalere
Leave feedback about this