Johannesburg, 7 June 2018 - Jacko Maree (Chairperson Liberty and Deputy Chairperson Standard Bank Group), Faith Khanyile (CEO: Women’s Development Bank Investment Holdings), Colleen Larsen (CEO: Business Engage and 30% Club Southern Africa), Seipati Nekhondela (Director: Department of National Treasury) and Martin Sweet (MD: Primestars)
How can we ensure that a youth demographic more concerned with bling-bling now as opposed to cha-ching later, sit up and take notice?
It seems Liberty and Calgro M3 came up with just the ticket.
A brand new locally produced Smartbucks financial literacy movie titled One Way to Graceland has been released to teach high school learners about the pitfalls of improper spending.
The 80-minute movie is a national financial literacy initiative that explains financial management in a manner that resonates with young people.
More than 15 000 learners in Grades Nine, 10, 11 and 12 have been given the opportunity to gain crucial financial skills through the Smartbucks financial literacy movie.
The educational movie, starring Candice Modiselle and Tau Maserumule, takes the learners on a journey of a third-year student who is absorbed by the prevalent culture of consumerism, family dependency and low levels of financial literacy.
The movie is designed to instil a culture of saving in a country with one of the world’s lowest savings rates by unpacking concepts such as earning, saving, budgeting, debt and investing.
To date, the programme has reached over 75 000 learners and will reach a further 15 000 this year, using the cinema channel.
The effects of a low level of financial literacy in South Africa are quite evident.
According to the National Credit Regulator, South Africa’s credit active consumers have R1.7-trillion in combined debt.
The sponsors, Liberty and Calgro M3 are proud to lead a movement of change, one where young people’s financial acumen receives the greater emphasis it so desperately needs for our youth to emerge with a safer financial future.
After watching the movie, each learner leaves the session with a Financial Literacy Toolkit for future reference.
"We are proud to have partnered with Primestars to deliver on this key project, responding to a critical need in the country; financial literacy. As Liberty we strongly believe that interventions such as these go a long way in creating an inclusive economy which the country is in dire need of," says Xolisa Vapi, divisional director of Corporate Affairs and Sustainability at Liberty.
"Our programmes are aimed at enabling financial freedom for future generations, hence our focus on schools. With the Smartbucks programme, we broadened our reach and went for a wider national footprint – reaching about 15 000 learners," he adds.
Wikus Lategan, CEO of Calgro M3, comments: "Calgro M3 is exceptionally proud to be co-sponsoring the Primestars Smartbucks programme for the first time this year. We strongly believe that by supporting educational initiatives, we can make a meaningful difference to changing the well-being of all South Africans, in line with our tagline of Building Legacies, Changing Lives. The Smartbucks programme, which teaches learners about financial concepts such as managing debt, looking after one’s savings and spending wisely, in an engaging, fun way, while delivering powerful messages, is something that we can really get behind."
The Smartbucks programme is supported by the Department of Basic Education alongside the private sector – Liberty, Calgro M3, Tsogo Sun, Kulula, Gearhouse and Financial Planning Institute.