Sustainability is a core element of SEDCO Holding’s organizational culture, and radiates outwards to involve group companies. SEDCO Holding’s Sustainability is inspired by the values of its shareholders and Saudi Vision 2030, which specifically calls on the private sector to be socially responsible.
Riyali was launched in 2012 as a financial literacy program to teach young Saudis to save, invest and be financially responsible. What started as a community outreach program has since become a national movement of youth empowerment.
The total number of Riyali beneficiaries trained to date exceeds 1.8 million. The program now covers in-school training in 47 Departments of Education across the Kingdom and has also trained more than 7,000 teachers who act as its ambassadors.
Riyali conducted the Kingdom’s largest ever online financial literacy competition in March 2021, reaching nearly 400,000 beneficiaries. It marked another major milestone in the 10 years that SEDCO has invested in the program and earned further recognition from the Ministry of Finance for our long-term commitment.
The competition was one of the year’s major highlights – which we celebrated with the Ministry of Education, our strategic partner – as was the renewal of our partnership with the Ministry for a further three years.
2021 saw the roll-out and initial implementation of Riyali’s five-year sustainability strategy, approved by the SEDCO Board in December 2020 and emphasizing the program’s operational and financial sustainability.
Shifting Riyali’s in-school training online has proven highly successful, exceeding our projections for the year and proving that online education delivers superior results when coupled with clear incentives to participate.
Our collaboration with SNAD Mohammed bin Salman – the Crown Prince’s initiative to empower Saudi citizens and help to achieve certain socioeconomic goals – has resulted in the translation of our flagship ‘Riyali Basics’ program to feature Saudi sign language for the hearing impaired. With a launch planned for early 2022, this is the first enhancement of its kind to serve a specific demographic in our community.
Production of the second segment of our ‘Rowad Growth’ entrepreneurship initiative resumed, and we hope to launch this module in mid-2022.
Another exciting year lies ahead of us. Given the success of the online education witnessed with Riyali, we will build on the proven methodology to bring financial literacy to all our audiences in the Kingdom. With the support of the Ministry of Education, we are confident that we can continue to grow student education in in this way.
Our highest priority for 2022 will be to launch ‘Rowad Growth’, which has been three years in the making. We will also push ahead with the ‘Riyali Club’ for university students, on campuses across the Kingdom, again with the Ministry of Education’s strategic support.