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Algoa FM: SA movie teaches learners financial literacy

Johannesburg, 7 June 2018 - South African high school learners this weekend got an opportunity to learn about the pitfalls of improper spending through an innovative approach using a locally produced financial literacy movie entitled "One Way to Graceland".

The 80-minute movie explains financial management in a manner that resonates with young people. More than 15,000 learners in Grades 9,10,11 and 12 have been given the opportunity to gain crucial financial skills through the film, produced under the auspices of national youth financial literacy programme, Smartbucks.

“We are proud to have partnered with Primestars to deliver on this key project, responding to a critical need in the country; financial literacy," said Xolisa Vapi, divisional director for corporate affairs and sustainability at Liberty, which co-sponsored the project.

"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."

“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 leaners," Vapi added.

The educational movie, starring Candice Modiselle and Tau Maserumule, takes the learners through the journey of a 3rd year student who is absorbed by the prevalent culture of consumerism, family dependency and low levels of financial literacy.

It aims to instil a culture of saving in a country with one of the world’s lowest savings rates and high levels of indebtedness. According to the National Credit Regulator, South Africa’s credit active consumers have R1.7 trillion in combined debt.

To date, the programme has reached over 75,000 learners and will reach a further 15,000 this year, using the cinema channel.

Sponsors Liberty and Calgro M3 said after watching the movie, each student would leave the session with a financial literacy toolkit for future reference.

"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," Calgro M3 CEO Wikus Lategan said.

"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."