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.
An evaluation of was conducted on an Old Mutual financial literacy program to people in both rural and urban areas, which reached nearly 36,000 people in 2011. The objective of the program was to improve people’s financial skills, help them make sound financial decisions, and encourage saving.
As South Africa’s public insurer, SASRIA has a special interest in the transformation and professionalisation of the insurance and broader financial sector. SASRIA’s corporate social investment (CSI) practice therefore has a strong focus on tertiary education and professional development in this area. Through the SASRIA bursary programme and the South African Actuaries Development Programme (SAADP), SASRIA helps previously disadvantaged matriculants to access the opportunities they need to reach their dreams and contribute to a prosperous South Africa. The bursaries programmes are complemented by the Insurance Leadership Development Programme (ILDP) which provides mostly black professionals in the insurance industry an opportunity to further develop their leadership skills.
Momentum launches "Making Money Matter" interactive board game aimed at improving financial literacy
“Where does my money go?” is a common question faced by many individuals and households when it comes to managing personal finances. Effective money management starts with a goal and a step-by-step plan to manage expenses, savings and debt repayment. Financial goals should follow the SMART principle – it must be Specific, Measurable, Actionable, Realistic, and have a Timeframe.
Case study: How to create school libraries that support self-directed approaches to learning (The Bookery)
The Bookery, previously a project of Equal Education, facilitates the development of support structures in under-resourced schools to create an optimal environment in which to deliver sustained literacy programmes. Our interest in school libraries is not simply the establishment of spaces where books leave shelves and return in an orderly manner. Rather, we aim to develop school libraries as spaces that engender creativity, learning, critical thinking, literacy development and a desire to explore knowledge. In this article we share what we believe to be the most important features of a dynamic, well functioning library - and some of the lessons we learned in the process of creating them.
· Provision of Adequate and Relevant Resources
· Buy-In from the School Community
· Having the Right People as Librarians or Library Assistants
Sparrow Schools in Johannesburg, Gauteng, opened its doors 25 years ago to help children and youth with learning disabilities from disadvantaged homes. Their goal is to see that children and youth with barriers to learning are equipped with education and employable skills so that they can earn an income.
This article applies experimental research to investigate the impact of the Bubomi financial literacy programme, which aims to improve essential financial literacy skills, habits and behaviour of South Africans.
MMI aims to enhance the lifetime financial wellness of South Africans and believes that the starting point for this is financial literacy. To this end, the group focuses part of its corporate social investment on promoting knowledge and skills that enable individuals to make informed financial decisions, thereby empowering them to effectively plan their futures.
Two key projects which exemplify MMI’s financial wellness goals are:
- The Making Money Matter board game, designed and implemented by Momentum
- Metropolitan’s Early Childhood Development Financial Literacy Project