2017 South Africa Global Money Week
- Leading Organizations:
- The Banking Association
- Participating Organizations:
- JP Morgan Chase South Africa
- UJ Investment Society - The University of Johannesburg Investment Society
- Old Mutual
- Nedbank, Postbank and Ubank; ABSA
- Nelson Mandela Foundation
- National Debt Management (NDMA)
- South African Banking Risk Information Centre (SABRIC)
- Department of Education
- National Treasury
- S.A Mint
- S.A. Bank Note
- National Youth Development Agency
- Johannesburg Stock Exchange
- The University of Johannesburg Investment Society
- The South African Reserve Bank
- The Gauteng Department of Economic Development
- BASA network of 23 member Banks and 43 financial Institutions
- Number of children reached directly: 880
- Number of children reached Indirectly: 9100
Various GMW 2017 events took place in South Africa, such as school visits by the Banking Association, where 300 children learned about money matters in accordance with the GMW 2017 theme “Learn, Save, Earn.” University students were invited to a coordinated event on financial literacy with the Wits University and University of Johannesburg. The highlight of the event was the appearance of a prominent South African artist, Silkour, who inspired the crowd with his personal stories and advice on how to handle money. More celebrities shared their personal words of wisdom on the topic of money as well. This event was covered in the Old Mutual Broadcast, and was a highly-watched event.
Other activities organized during GMW included the launch of StarSaver, which formed a dialogue on the topic of “Deepening Financial Democracy”. The main themes of the dialogue focused on democracy, responsibility, resources and economic citizenship in exploring the subjects of finance and human rights. The dialogue took place throughout the entire month of March, building up to the GMW celebrations.
UI Investment Society also took part in Global Money Week 2017 celebrations by organizing the Common Cents event, aimed at teaching youth about money, saving, creating livelihoods, gaining employment and becoming entrepreneurs. The President of the organization, Ms. Azrah Ramjoo, first talked about self-investment, motivating students to always give their best at whatever they do, and that the only battles that are truly lost are the ones that were never started. The speakers that followed included representatives from JPMorgan Chase (South Africa) and the South African Reserve Bank, who encouraged the youth to believe in a future of a strong South African financial market, and explained some of the core bank activities, such as liquidity management, risk tracking and trade auctions. The event was successfully concluded by emphasizing the importance of saving and how the ability to save is driven by goals.
2016 South Africa Money Week
- Participanting organizations:
- All members of the Association and MECs
- Banking Association South Africa
- Operation Hope
- Grassroot Soccer
- Ragball International
- Date of event:
- 14th - 19th of March
- Total number of children & youth engaged: 1 000
South Africa celebrated Global Money Week once again with lots of exciting activities. The Banking Association South Africa, the lead organization for GMW celebrations in the country, launched a new chapter of its innovative savings campaign StarSaver™ for Varsity and College students. StarSaver™ celebrated 9-years of a national savings campaign that imparts pearls of wisdom to South Africa’s youth. StarSaver™ is a flagship programme of The Banking Association South Africa. Since the start of Global Money Week, StarSaver™ has actively participated.
On the 15th and 16th of Match, Student Investor, powered by StarSaver™, also launched the Varsity and College Students Financial Literacy Campaign at the Wits University and University of Johannesburg. Contributing to the week is the training by the young coaches “Imali Ants” from Aflatoun – dedicated cohort of StarSaver™, Aflatoun social and financial education coaches. Aflatoun International Day, which was on the 17th of March, resonates very deeply in South Africa as one of the pillars of the Aflatoun child social and financial education programme on Rights and Responsibilities; particularly as 21st of March is Human Rights Day in South Africa, thus, social justice and cohesion are at the forefront. Global Money Week also coincides with South Africa’s 1st Anti-Racism Week from 14th to 21st of March to globalize the fight against racism. StarSaver™ is in full support of the Anti-Racism Week as another way of democratising youth finance.
In honor of Global Money Week Operation HOPE South Africa hosted activities that were capped off with our current entrepreneurship program, HOPE Business In A BOX Academy, businesses sharing their thoughts about money. They held their Business Role Model and Business Coaching sessions at Selelekela High School in Soweto. Furthermore, Grassroot Soccer and Ragball International joined together to work with participants in Ragball production. Ragballs made out of old newspapers and fruit bags and then be sold around Cape Town. Proceeds were split between people who made the Ragballs and the RV United Team. Participants of GMW also had the opportunity to take financially literacy courses and learn about the best ways to save and spend their money.
2015 South Africa Money Week
- Banking Association South Africa, All members of the Association and MECs, Grassroot Soccer South Africa, Ragball International
- Date of event:
- 9th - 17th of March
- Number of children reached:
The Banking Association South Africa kick started 2015 Global Money Week in South Africa with a rebranding of the Teach Children to Save South Africa (TCTS SA) program and the launch of FinLit Spelling Bee. TCTSA SA is now known as StarSaver. The program was rebranded StarSaver in line with the aspirational target youth market, reaching for the stars, and aims to foster a culture of saving in youth and promote volunteerism in the financial sector. It advocates Learn, Earn, Save, Spend and Invest -“LESSI” as its wealth cycle.
The StarSaver™ program has reached over 1.2 million learners nationwide in the past seven years through the participation of 21 banks and 43 financial institutions, and it is part of the Economic Management Science subject of the school curriculum. It is ‘Proudly South African’ accredited and aligned to the ethos: ‘Make Everyday a Mandela Day’. StarSaver™ strives to employ various ways of improving the retention of the savings message. FinLit Spelling Bee is another vehicle to foster learners’ interest in financial literacy. It is the first ever spelling competition focusing on financial literacy. The FinLit Spelling Bee kicks-off in partnership with the Northern Cape Department of Education, on Monday, 9 March 2015 at The Big Hole: Kimberley Mine Museum, Northern Cape. Grades 7 to 9 learners will compete by spelling words of varying difficulty that relate to financial literacy.
Grassroot Soccer South Africa also participated in Global Money Week. 50 Grassroot Soccer Coaches from Khayelitsha, South Africa’s second largest township on the outskirts of Cape Town, engaged in two financial education activities, “Trade Off” and “The Saving Game” from the Ragball International Curriculum. Ragball International is an economic development program that uses an interactive sport-based curriculum to teach financial literacy skills and empower young people to take action and take control of their financial futures.
In “The Saving Game”, Coaches explored the differences between a spending culture and a saving culture, and looked at examples from their community. Each Coach took a savings pledge to make one small change in their spending habits that will help them save money over time. One Coach said that in order to reach her long term goal of going to college, she would stop buying soft drinks on the weekends. “Although, it may seem like a small change, over time it will help me save money.”
“Trade Off” helps young people discover what they gain and sacrifice in order to achieve personal long-term goals. One Coach spoke about how she saved money from every pay check, “giving up” going out with her friends while “gaining” enough savings to buy her own small house.
2014 South Africa Money Week
- Kwazulu-Natal Financial literacy Association
- Johannesburg Stock Exchange
- Operation Hope
- The Banking Association of South Africa
- Old Mutual
- First National Bank
- Financial Services Board
- Durban Chamber of Commerce and Industry
- Province of Kwazulu-Natal
- Plan Rwanda
- Postbank South Africa
- Standard Bank
- Ithala Development Finance Corporation ltd.
- Morar Incorporated
- National Treasury
- Date of the event:
- 12th - 17th of March
- Number of children reached:
Kwazulu-Natal Financial Literacy Association held a Child and Youth Finance Summit in Durban on 13th and 14th March to commemorate Global Money Week. They addressed issues on entrepreneurship development and financial education and inclusion strategies for youth both in and out of school. Surveys were also shared and discussion took place on the effective ways to measure the impact of financial education programs. Recommendations were shared with policy makers on the most effective way to communicate with youth.
A special session was held during the summit for youth from South Africa, Zambia, Botswana, Namibia, Lesotho and Swaziland. They participated in a video chat with students from Romania, visited banks and financial institutions and had interactive sessions on how to save and entrepreneurship development. Some of the partners that participated in the summit included ABSA, Financial Services Board, First National Bank, Nedbank, Postbank, Standard Bank, Aflatoun, Durban Chamber of Commerce and Industry, Old Mutual, The Banking Association of South Africa, Morar Incorporated Chartered Accountants, Ithala Development Finance Corporation Ltd.
Johannesburg Stock Exchange (JSE) in collaboration with 3 Ring Circus hosted an expo dubbed ‘Yo Future Expo’ on 12 and 13 March. They invited Grades 11 and 12 learners to an expo in Rustenburg to learn about study opportunities at various institutions as well as other education initiatives offered by institutions. The learners were also taught about JSE and the Investment Challenge game. A total of 2000 learners participated in the ‘Yo Future Rustenburg Expo’.
Operation HOPE's involvement with Global Money Week was through the Banking on Our Future program. The program was held in schools in Gauteng and the Western Cape provinces. 200 young people, ranging from elementary school through to high school, were empowered with information on budgeting, managing bank accounts, credit, investment and savings.
2013 South Africa Money Week
Name of organizing entity - The Banking Association South Africa, KwaZulu-Natal Financial Literacy Association, Young Girls Network Partners - ABSA, Nedbank, Standard Bank, FNB, Postbank
Date of the event - 15th – 21st of March
Number of children reached - 900
“Colleagues, let us give a WOW experience to the scholars. They are our future bankers and we need to ensure that they walk away feeling valued and can share a positive experience with their parents and teachers,” said Bheki Prince Gumede, coordinator of the bank visits during Global Money Week
In South Africa, Global Money Week was launched on the 15th of March with the Sondelani Combined School learners participating in a webinar facilitated by the Young Girls Network. The week continued with visits to various malls and banking halls at Bridge City in KwaMashu, Mega City in Umlazi and Hillcrest on the 16 of March.
Beyond the banks visits, the learners who were hosted by the banks were given money boxes, Banking on YOU(th) booklets, Learner Bank, Career Guides (“Walk Proud into the Bright future of Banking and Micro-finance”), bag. Also, a Pen Pals initiative on importance of saving from SA Reserve Bank was proposed to the children and youth. The children that were at banks and ATMs were pleasantly surprised by the Chairman of the KwaZulu-Natal (KZN) Financial Literacy Association, Mr. Artwell Hlengwa who did a walk around handing out money boxes from the MEC for Finance in KZN and brochures from SA Reserve Bank on the new money notes with Mandela launched in November 2012 aka “Randela” combining Rand and Mandela – the Rand is the SA currency with our global icon, former President Nelson Mandela.
Posters of Global Money Week and the New Money Week Notes series were widely distributed at banks and schools on the 18th of March, Aflatoun International Day , when Postbank hosted learners in Mangaung, Free State. The Week continued with visits to SA Mint where students could learn how coins are being made. On the 21st of March (Human rights Day in SA), Operation HOPE delivered lessons on Financial Dignity accompanied with distribution of pamphlets from the South African Rights Commission.