Digital payments company Visa, has entered a partnership with Trace Academia, a mobile-based learning application that aims to enable 26 million youths across Africa.
This partnership is the latest development in Visa’s Practical Business Skills’ (PBS) initiative, which offers potential partners integration and co-branded opportunities to contribute to business transformation and empowerment, said a statement.
The collaboration offers a free online learning platform that is equipped with extensive educational courses. The application which is available on Android and iOS is accessible and inclusive, with multilingual learning across a myriad of industries.
Enabling small and micro business to thrive
The newly formed partnership is an extension of Visa’s purpose to enable entrepreneurs with the resources they need to thrive and will fuse entertainment and education to deliver an engaging learning experience, explains the statement.
Visa’s Practical Business Skills has been reimagined into an interactive course on the Trace Academia platform covering different skills including business planning, marketing, and securing funding.
“Our partnership with Trace Academia allows us to extend our impact in making business skills more accessible to youth who are one of the key drivers of entrepreneurship on the continent,” said Aida Diarra, Senior Vice President & Head of Visa in Sub-Saharan Africa.
Visa says Practical Business Skills plays a key role in supporting the job and economic development efforts of its clients and partners, such as Trace Academia.
With small micro businesses accounting for more than 90% of global businesses and as the source of 50% to 60% of global employment, PBS offers digital educational resources and tools to help small and micro businesses thrive through complex challenges.
“Utilizing Visa’s extensive expertise in financial education, we provide knowledge on what it takes to start a business, financing and cashflows, business management, marketing and ultimately, how to drive businesses into a profitable enterprise. We believe every stage of a business is important, from the development stage to maturity, and therefore, equip entrepreneurs with resources that help them confidently make informed business decision, throughout the business lifecycle,” added Diarra.
Empowering communities to develop
Visa is further expanding awareness and access to the business skills education resources available for SMBs by building co-branded Practical Business Skills sites with clients and partners.
The company says this has become a key enabler for stakeholders such as governments and fintechs within the landscape of payment solutions, to accelerate and expand their social impact and business strategies with SMBs.
This commitment falls under Visa’s global dedication to digitally-enable 50 million SMBs worldwide, to help local communities get back to business, and drive SMBs to greater resiliency and growth.
“Practical Business Skills builds on the success of our flagship financial education initiative, Practical Money Skills, used by more than 40 million people worldwide. It provides content suitable for a wide variety of SMBs in any location and can be accessed through a series of 50 videos, on a variety of key topics, such as managing, organizing, digitizing, protecting, and growing a business,” adds Diarra.
In addition to Trace Academia, Visa has worked with other key partners to adapt Practical Business Skills to stakeholder needs and implement co-branding strategies.