The financial literacy skills of South Africa’s youth are set to get a boost with the launch of Savings Month 2008 and the start of the Teach Children to Save South Africa (TCTS SA) initiative in July.
The South African Savings Institute (Sasi) has themed Savings Month Ligotjwa lisase manzi, which is a Zulu saying meaning “If you want to shape a stick, you had best do it while it is still moist.” Sasi is an independent, non-profit organisation dedicated to developing a robust culture of saving in South Africa.
On July 25 volunteer bankers and financial sector professionals will deliver a one-hour lesson to grade four to seven learners on why saving is important, how to design a budget, the difference between needs and wants and how interest makes money grow.
Supported by the department of education and The Banking Association South Africa, Savings Month and TCTS SA will take the lead in educating thousands of children about the importance of saving and will demonstrate the commitment that South Africa’s financial institutions have in developing the financial literacy of South Africa’s youth.
The TCTS programme was founded by the Washington DC-based American Bankers Association Education Foundation in 1997. Because of the success of TCTS, global expansion of the programme has identified three countries in which to pilot the TCTS initiative – South Africa, Mexico and Turkey.
All banks and financial sector institutions are encouraged to participate in TCTS SA Day on July 25.
Financial institutions interested in participating in the TCTS SA programme can visit www.banking.org.za or www.savingsinstitute.co.za. Alternatively they can email [email protected] to be assigned a school.