MZANSI is not saving as well as the rest of the world.
Global Money Week, which ends on 2 April and is organised by the Banking Association South Africa with its 23 member banks and 43 money organisations on StarSaver, hopes to make people aware of the importance of saving.
StarSaver is a financial literacy programme promoting a culture of saving among young people as well as collaboration between the banking industry and the broader financial sector.
The week’s theme is the Zulu proverb “ukufunda akukhulelwa” – you never stop learning.
Tomorrow about 120 young people aged between 15 and 23 years will gather to debate the idea of “democratising the economy”.
During Money Week, the financial sector will also celebrate its 10th roll out of the flagship programme StarSaver.
Launched in 2008, StarSaver – formerly known as Teach Children To Save – was established as a response to the call by National Treasury to improve financial health among different sections of the nation.
Other topics to be discussed at Money Week include:
Learn: Good economics is made up of informed and capable people who are aware of their social and economic rights and responsibilities as to how to behave in a manner that respects the influence of social currency on the economy.
Save: StarSaver’s motto, another Zulu saying, is “ligotshwa limanzi” – it is best to shape a stick while it is moist.
This means that it is best for people to learn money management skills when they are still young so they can help create a better future by starting earlier in life.
Earn: By making use of their talents and skills to earn money, people can save and invest so that their money can grow and earn more money – the very art of wealth creation.
