Nedbank has achieved a significant milestone by becoming the first bank in Africa to launch a game on the popular Roblox gaming platform.
In a matter of months, the game, named Chow Town, has already attracted an impressive 75,000 gameplay sessions, and the number continues to rise daily.
Notably, Chow Town ranks in the top 10% in terms of total numbers and session time among other Roblox games offering similar experiences.
Chow Town: A Collaboration with Sea Monster Entertainment
Chow Town, created in collaboration with Sea Monster Entertainment, a leader in financial education and behavioral change, offers players an opportunity to set up and expand a start-up takeaway joint through incremental investment.
The game’s design aims to nurture entrepreneurial skills and guide young people in making informed money choices.
With Roblox’s popularity among the 9–12 age group, Chow Town provides a learning environment that engages their attention and facilitates the acquisition of valuable life skills at an ideal stage in life.
Nedbank’s Commitment to Digital Innovation and Positive Impact
Nedbank demonstrated its commitment to developing innovative digital solutions that benefit its customers by introducing Chow Town.
At a recent event, where 302 tweens experienced a specially constructed Chow Town experience at the popular Fourways Mall, Buli Ndlovu, Executive Head of Retail and Business Banking Marketing at Nedbank, highlighted how the game reflects Nedbank’s dedication to positively impacting the financial behavior of the youth.
Gaming as a Tool for Financial Education
‘To achieve that goal, we realized 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,’ said Stelios Vakis, CIO for Nedbank Africa Regions
Recognizing the metaverse’s growing influence, Vakis explained that engaging young people in their preferred digital environment creates an ideal opportunity to impart essential financial knowledge.
Industry commentators predict the metaverse’s market value could reach $800 billion by next year, solidifying the trend’s lasting impact.
Empowering Young Minds: Gaming Meets Banking
Lebo Lekoma, Head of Client Services at Sea Monster Entertainment, expressed pride in collaborating with a leading digital bank to create Chow Town.
The game’s core loop focuses on investment, upgrade, build, and earning, immersing players in a restaurant management experience while imparting crucial concepts of investment and money management.
This innovative approach ensures that learning becomes an exciting and valuable experience, empowering young minds for a successful future that merges the worlds of gaming and banking.
Financial Education as a Catalyst for Inclusion
Dr. Frank Magwegwe, Executive Head of Financial Wellness and Advisory at Nedbank, emphasized the importance of enhancing financial education for the youth.
He highlighted that financial literacy is a crucial stepping stone toward driving financial inclusion and enabling more South Africans to enter the economy.
By creating a risk-free learning environment through Chow Town, players can acquire vital skills like financial planning and delayed gratification, thereby preparing them for real-life financial and business situations.
Learning as a Lifelong and Enjoyable Pursuit
Given the widespread popularity of financial games across age groups, it is evident that learning can become a lifelong and highly enjoyable pastime.
Through Chow Town and similar initiatives, Nedbank aims to foster a generation with a solid appreciation of the value of money and the skills to make informed financial decisions.