Financial Literacy in South Africa

South Africa comes last in global financial literacy poll

South Africa has come last in a poll of 30 countries and economies – drawn from Africa, Asia, Europe, Australasia, North America and South America – when measuring financial knowledge.

According to the the Organisation for Economic Co-operation and Development (OECD), adults in many countries around the world display low levels of financial knowledge, fail to engage in financial behaviours that could improve their financial security, and have financial attitudes oriented towards the short-term.

Financial literacy in South Africa: Results from South African Social Attitudes Survey (SASAS)

These reports are part of the ongoing study of financial literacy in South Africa and its objective is to provide the Financial Services Board (FSB) with information about the financial knowledge, attitudes, skills and behaviour of adult (aged 16 and older) South Africans. 

Momentum Household Financial Wellness Index

Momentum Household Financial Wellness Index

In order to fully understand what financial wellness is and what it means to households across the nation, Momentum teamed up with the University of South Africa (Unisa) in 2012 to compile the annual Momentum Unisa Household Financial Wellness Index and the quarterly Momentum Unisa Wealth Index.

The Financial Wellness research revealed that at least three quarters of South African households are under financial pressure.