Hollard’s homegrown basic financial literacy programme is designed to empower all South Africans to be able to make more informed financial decisions, thus enabling them to create and secure a better future.
Hollard recognises that financial inclusion is a crucial issue in South Africa; however, there is much more to it than only having the financial resources to participate in the country’s economy. It is also about understanding how to manage money. Inadequate financial literacy is one more snare in the poverty trap. Hollard believes that
if South Africans are given the opportunity to learn basic financial management skills, they will be empowered to make better financial decisions that can have a profound impact on the way they choose to live their lives, manage their financial affairs and, most importantly, allow them to retire comfortably.
In 2011 a group of Hollardites responded to this need by developing a picture-based programme to teach basic financial management skills to the people of South Africa, from grade ten learners to retirees, and everybody in between. The aim was to empower them to make more informed financial decisions. Eight years later, StreetWise Finance is now an intelligently and lovingly crafted four-module programme, run by trained facilitators including Hollard staff volunteers in both the CSI and consumer education arenas.
The StreetWise Finance programme
The StreetWise Finance programme covers four key areas: needs vs wants and budgeting; saving; banking and lending; insurance; and retirement. The idea is to overcome the challenges posed by poor literacy and numeracy, as well as language barriers, by using posters, maps, games and other visual aids to give participants a working understanding of financial terminology and topics in a manner that they can understand. There are no formal presentations; instead, the format is highly interactive, which provides a real opportunity for people to engage, discuss and ask questions in a comfortable environment. This provides a practical understanding of basic money matters that can make a positive and immediate difference in participants’ daily lives.
The programme is available free of charge and can be tailor-made to be delivered in all official South African languages, as well as sign language, and across all areas in South Africa. Hollard is focused on making a meaningful contribution to the communities in which it operates, thus the programme can also be customised to meet the needs of the participants.
To reach a wider audience, Hollard launched an e-learning platform in 2016 to provide further accessibility to those with the means. The StreetWise finance online challenge is available on www.streetwisefinance.co.za and uses a gamification methodology to make learning come to life.
Hollard appreciates the resoundingly positive feedback which has given us the impetus to broaden our focus on financial literacy. This forms a core part of our organisational purpose and enables Hollard to catalyse real, positive and enduring change for the benefit of all. As a company, we are further encouraged by our efforts to focus on rural areas and to solidify our partner philosophy by collaborating with all stakeholders to reach and empower vulnerable communities.
To find out more about this programme, email StreetWiseFinance@hollard.co.za | https://www.hollard.co.za/better-futures/streetwise-finance