-Volvo Financial Services and Junior Achievement Worldwide share the power of financial education with 14,000 young people
GREENSBORO, N.C., Aug. 31, 2023 /PRNewswire/ -- Volvo Financial Services (VFS) recently completed a year-long collaboration with JA (Junior Achievement) Worldwide, bringing a message of economic empowerment through financial education to more than 14,000 young people in Brazil, France, India, Italy, Peru, South Africa, Spain, the United Kingdom and the United States.
In all, more than 140 VFS employees volunteered in nine countries, partnering with JA educators to instill the importance of learning financial skills, entrepreneurship, setting financial goals, budgeting and more.
"Teaching financial skills and concepts will give these students the ability and mindset to make informed financial decisions in the future, resulting in stronger communities and a stronger society," said VFS President Marcio Pedroso. "Nearly one in five of our employees in these nine countries chose to volunteer their time and I am grateful for their efforts, as well as the guidance provided by JA Worldwide. Together, we made a real impact in the lives of many young people across everyone. We look forward to building on the progress made over the past year."
The nine countries were selected based on the locations where VFS employees live and work, and the curriculum was tailored from JA's extensive resources to the local area. One example is the JA Company Program, in which students exercise the practical skills necessary to conceptualize, capitalize, and manage their own business to fill a need or solve a problem in their own community. The JA Company Program was delivered in Spain, Italy and the UK, with VFS volunteers providing guidance and real-world experience to student-run start-ups.
"VFS's partnership with JA not only invests in developing youth financial literacy skills in nine geographic areas, but also trains VFS employee volunteers to work directly with students as mentors and role models. The JA's theory of change (to develop self-efficacy in youth) depends on adult role models like those at VFS, who mentor JA students and share their own path to a healthy financial future," said Asheesh Advani, CEO of JA Worldwide. .
The collaboration between VFS and JA is fully aligned with the Volvo Group's overall sustainability ambitions, which include a commitment to each of the United Nations Sustainable Development Goals (SDGs). Teaching financial skills will have a positive impact on several SDGs, including helping end poverty, supporting quality education, empowering women and girls, and more.
JA is a world leader in youth development, with a focus on financial education, job readiness, and entrepreneurship. Reaching more than 15 million youth annually, JA offers hands-on, immersive learning in entrepreneurship, job readiness, financial health, and more.
Volvo Financial Services is the captive financial arm of the Volvo Group, providing financial services and solutions that meet the needs of our customers today and in the future. Dedicated to innovation, VFS supports society in its adoption of sustainable transport and equipment solutions and serves Volvo Group customers and dealers in some 50 markets. For more information, visit www.volvofinancialservices.com or follow us on LinkedIn.
Volvo Group drives prosperity through transportation and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in nearly 190 markets. In 2022, net sales amounted to 473 billion Swedish crowns (45 billion euros). Volvo's shares are listed on the Nasdaq in Stockholm.
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