Celebrating youth month with financial education

​Celebrating youth month with financial education

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Educated youth can make educated financial decisions.

In honour of youth month, the Financial Sector Conduct Authority (FSCA) launched the Youth Empowerment Campaign.

The aim of the campaign was to increase financial literacy, through greater awareness regarding financial management and pitfalls that lead to bad financial decisions. Moreover, the campaign aimed at encouraging entrepreneurship and the creation of employment opportunities for the youth.

The campaign was implemented by a series of roadshows that started  in Tembisa on the 30 June 2018, an estimated 441 youth participated during this event at Moriting Park. It was followed by a second activation at Elkah Stadium in Rockville, Soweto where 452 young people were reached. The last activation took place on the 14 July 2018 at the Giant Stadium in Soshanguve, an impressive1824 youth participated at the FSCA Youth Empowerment Campaign. A total of 2717 consumers (youth) were reached through the initiative.

The roadshows consisted of presentations, exhibitions and an outside radio broadcast comprising of a series of interviews on topics such as savings, entrepreneurship and investing.  The interviews were done by representatives from the FSCA and various stakeholders on YFM (Youth FM), a youth radio station in Johannesburg with over one million listeners. As part of the roadshows, the FSCA partnered with the Department of Labour (DOL), Department of Trade and Industry (DTI), Companies and Intellectual Property Commission (CIPC), Council for Debt Collectors (CFDC), National Empowerment Fund (NEF), Small Enterprise Development Agency (SEDA), Chemin, Softstart BTI, Nakampe, Credit Ombud office, Gauteng Consumer Affairs, National Credit Regulator (NCR) and Harambee Youth Employment Accelerator in the quest to create employment opportunities and encourage entrepreneurship.

Young people can  be reluctant to attend events that are organized in a formal setting. However, this campaign took a different style combining live entertainment, media engagements, live reads, activations and face-to-face interactions.  Skhumba, the comedian and Oros, the actor, were both ambassadors and MCs for the campaign which was coupled with entertainment by YFM DJs. The artists entertained the audience during breaks and handed out monetary vouchers worth R 4 500, as well as comedy show tickets during the road shows as incentives for attendees to engage in the activities.

The project, was funded through the Financial Services Consumer Education Foundation (FSCEF) and was monitored and evaluated by an independent company. The report on the successes and learnings will be made available soon.

If you would like to be part of future initiatives like this one or to make a donation towards other financial literacy projects please contact the Chairman of the FSCEF, Ms Prem Govender on 032 533 1106 or email prem@mosswick.co.za.

Empowered youth can live empowered lives.