thryve sponsors the development and hosting of an online game to increase the financial literacy of young South Africans
Actuaries Without Frontiers, a committee of the Actuarial Society of South Africa, has spearheaded the development of an online multiplayer game (the iMali game) to increase players’ financial literacy while achieving the lifestyle that they desire. thryve is sponsoring the development and the hosting for this online game.
A bit more about the game
The target audience for the iMali game says Louise de Beer, a business analyst at thryve and member of Actuaries Without Frontiers committee, is first-year college students. Its aim is to teach these individuals financial principles such as budgeting, the value of education, saving and the different types of investments that are available to them.
The game simulates a ‘normal’ person’s reality. For example, it starts when players are around 22 and ends when they are 65, i.e. retirement age. The aim, ultimately, is to show the impact that life decisions have on your ultimate retirement income.
The player is faced with certain choices that have a bearing on how much money people have to retire with. For example:
- Do you study straight after school or do you start working?
- Do you invest your money? What type of investments should you choose?
- Will you buy a house or rent the place you’ll live in?
- Should you buy a car or save the money and use public transport?
“We allow players to buy things that they can’t afford,” says De Beer, “to show them the implication of their decision later in life.”
To increase the gamification aspects, the iMali game has a random event generator. So at any point, this generator can deal you an unexpected life occurrence, such as an unexpected illness. These are unexpected events that happen throughout ordinary day-to-day life and which play havoc with financial planning and saving.
What is thryve’s role in the game?
thryve is sponsoring the development of the iMali game by donating the time of one of its business analysts, a lead developer and a project manager to develop the code for the game. thryve will also sponsor the ongoing hosting of the game on its servers.
“thryve is proud to be part of this ground-breaking project as we recognise the importance of developing financial literacy in a growing country such as South Africa,” says Sean Pyott: MD of thryve. “We are excited to support Actuaries without Frontiers in the development and hosting of the iMali game and look forward to assisting Actuaries without Frontiers with their programme of providing much needed financial literacy to the youth of our country.”
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