FANews
FANews
RELATED CATEGORIES

Metropolitan Makes Financial Literacy ‘Lit’

18 April 2019 Metropolitan

Metropolitan is making the seemingly boring subject of financial literacy fun with its Kickstarz programme, currently being rolled out nationally. Since the 2016 pilot, the programme aimed at empowering grade 11 learners with financial skills has been presented to thousands. Recently, it was the turn of 363 pupils from Manzomthombo Secondary School in Mfuleni to learn the programme’s vital lessons through its teen-tailored twist.

The Principal, Mr John Matiso, said “The programme has empowered our learners and the broader community by giving them financial literacy information, as the learners take this home to their parents. I also saw it in a different angle as in the future they’ll be able to empower and improve their finances and move away from poverty - sometimes it’s not that people don’t have money, it’s just that they don’t know how to use it properly. It’s a social development that’s really going to do good for the community.”

Kickstarz taps into teens’ love of sneakers by challenging them to start their own (fictional) sneaker companies and market their own uniquely designed shoes to the rest of the school. This, together with several interactive money management lessons, equips kids with skills like how to read a bank statement, plan and follow a budget, build up a good credit record and stay out of debt.

On completion of the programme, the young entrepreneurs get to display their sneaker designs and a judging panel decides which was the best-performing ‘business’, with all members of the winning team walking away with a pair of sneakers made using their design. At Manzomthombo, the day’s excitement was upped by an appearance by Kyeezi from Good Hope FM and Metro FM, who emceed the event.

Of the learners who participated in last year’s programme, 94% were able to create a budget, 57% displayed an understanding of financial terms and phrases and 99% said that they were more likely to save money. In addition, 90% stated that they would like to be involved in financial discussions with their parents.

Not only does the programme hone the learners’ financial and money management skills, it also improves their life skills, with kids who participated in the programme reporting that they gained increased levels of confidence, learnt how to work in a team and found a sense of belonging by achieving something together.

“Kickstarz also opens entrepreneurship as a career option which is crucial, given South Africa’s severe youth unemployment problem,” says Charlene Lackay, Group CSI Manager at MMI Holdings.

 

 

 

 

Quick Polls

QUESTION

With regards to the COFI Bill, do you believe lumping the health and finance sector in the same basket will sustain the financial sector?

ANSWER

Yes, it forms part of the FSCA’s mandate to protect and maintain the sustainability of the financial sector, and to legislate fairness and make it the law
No, the products are different therefore the health sector should not have to be subjected to similar conduct requirements
This will cause problems. More consultations should be conducted before the final version of the COFI Bill is sent to Parliament for promulgation
A E fanews magazine
FAnews April 2019 Get the latest issue of FAnews

This month's headlines

Differences aside… in the name of fairness
Advice… now more important than ever
COFI… is this a reason to be positive?
Cyber cover: One size does not fit all
The need for member education
Subscribe now