FINANCIAL LITERACY PROGRAMME FOR SOUTH AFRICAN CONSUMERS TO BE LAUNCHED

A public awareness campaign designed to promote financial literacy and to educate South African consumers about best financial practices is to be launched in October by the National Treasury with Finance Minister Nhlanhla Nene as its patron.

The Treasury, which will together with the Financial Sector Conduct Authority (FSCA) and the National Consumer Financial Education Committee (NCFEC), launch the Money Smart Week South Africa (MSW SA) campaign, said in a statement that the Minister would ensure that the campaign is accorded maximum support and commitment from both the public and private sectors.

MSW SA is a public awareness campaign designed to promote financial literacy and educate consumers about best financial practices and management through a week-long campaign of different activities and events, it said.

It added that free educational seminars and activities aimed at raising awareness that financial education is accessible and readily available will be provided.

The events will showcase to consumers that reputable institutions and individuals are available to provide informed advice, and that controlling their financial situation can have a significant impact on their future.

The Treasury said the province of Gauteng had been chosen as the trial province in view of the fact that it is the most densely populated province and is home to South Africa's financial hub, Johannesburg.

By making use of lessons learned from this pilot, it is envisaged that MSW ultimately becomes a national event taking place on an annual basis.

Source: NAM NEWS NETWORK