Economic Empowerment
Making finance simple and not scary for over 2,000 students
Omar Zaky Hussein launched The Prosperity Paradox, an NGO teaching financial literacy through videos and classes, which he says has helped over 2,000 students across Egypt and Africa.
Over 2,000 students across Egypt and Africa. That is how many The Prosperity Paradox has helped, Omar Zaky Hussein says, since he launched the NGO to address the questions about money he once had himself.
Growing up as an Egyptian-Canadian, he says, he did not know much about how to efficiently manage finances, when to save or spend, or even how to secure an income. That encouraged him to start learning himself. He remembers the first time he found a video about the basics of entrepreneurship and thought, "I want to be like them in the future!" Since then he has taught himself everything from the basics to more advanced topics.
“I started The Prosperity Paradox because I believe financial literacy should not be a privilege. I want young people, especially those in underserved communities, to feel that money is something they can understand, manage, and use to create choices for their future, not something they have to fear.”
Omar Zaky Hussein
"I kept thinking: how can I mitigate these hardships or help?" he says. "I wanted to figure out something that makes finance simple and not scary. I wanted it to be interactive and easy to navigate."
The NGO has economics and accounting videos as well as education and blogs, with a dedicated website that holds all of the videos and blogs. It has worked with diverse professionals on conducting meetings and classes for students, on topics ranging from how to budget or save to how to have a secure income. "We basically focus on building the mindset that knows how to manage its finances," he says.
The Prosperity Paradox focuses on promoting financial literacy in Africa and beyond, and he describes it as a whole environment that calls for action regarding underserved communities in Egypt. Over the next three years it aims to expand its financial literacy platform and reach 10,000+ underprivileged students, and to develop partnerships with schools and youth organizations.
"We know how hard life is for our students, and we try our best to address their needs."