Financial Services under the spotlight to do more to encourage literacy

The Graduate Institute of Financial Sciences (GIFS) has appealed to the financial services sector to respond swiftly to alarming reports about South Africa’s reading culture. Several recent studies have shown South African children are falling behind their global counterparts when it comes to reading for meaning.

The National Library of South Africa is set to release its National Reading Barometer soon and the results aren’t expected to reveal a positive picture. GIFS’ CEO Dr Kershen Pillay has called on financial services companies to step up and address the situation, “We know many companies are already planning CSI initiatives ahead of Mandela Day in July. Please consider putting books in the hands of children. Also let’s open up reading opportunities to young professionals in corporate society as well.”

Pillay has been speaking after moderating a recent Insurance Institute of Gauteng Thought Leadership session on the lack of reading and its impact on corporate society. Renowned broadcaster Ms Joanne Joseph, Ms Nokuthula Musa who’s the Executive Director for Core Programmes at the National Library of South Africa, and Ms Boledi Seima who’s Absa’s People Lead Partner opined on reading culture.

The panel agreed that a wave of anti-intellectualism is sweeping South Africa and is largely being driven by misinformation because people aren’t reading extensively nor are they reading for meaning. Seima explained the impact is also being felt in boardrooms with executives ill-prepared for meetings because basic pre-reading isn’t being done. Musa said while various programmes are being run to encourage reading culture, active participation from the private sector is needed, “Young children in some cases aren’t reading because they simply don’t have access. Consider book donations so that our children have a real chance to develop a love for reading and improve their literacy levels.”