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Western Cape learners to get financial skills

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Western Cape learners to get financial skills

by Gabi Khumalo
05 Jun 2008
BuaNews Online
BuaNews Online

Pupils in the Western Cape are to be taught financial literacy with the help of an American-based non-government organisation and the Western Cape Department of Education.

Provincial Education MEC Cameron Dugmore signed an agreement worth R7.7 million with Operation HOPE, whose "Banking on Our Future" financial literacy programme is designed to help students learn the power of banking, saving, investing, self-reliance and dignity.

The programme is to be piloted in schools in the Cape Winelands District, where learners will gain entrepreneurial knowledge skills.

Speaking at the signing ceremony on Tuesday, founder of Operation HOPE, John Hope Bryant said the aim of the "Banking on Our Future" South Africa program was to execute a global delivery system for financial education for youth and women at no cost to schools, with a focus on historically marginalised communities.

The $1 million program consists of six modules which are Basics of Banking and Financial Services, Cheque and Savings Accounts, the Power of Credit, Basic Investments, Entrepreneurship and Dignity.

Mr Bryant said through the programme, students are taught by trained volunteer HOPE Corp members, many recruited from the banking sector to share their knowledge of banking and credit into terms that youth can understand and utilise immediately.

"In addition to financial education, the students are left with a message of empowerment, responsibility and most important, a message of HOPE," Mr Bryant said.

Mr Dugmore said the primary objective of the partnership was to deliver, promote and assess financial literacy, dignity and entrepreneurship education for provincial learners and youth through HOPE's Banking on Our Future program.

"Entrepreneurial knowledge skills and attitudes form an integral part of the Economic and Management Sciences learning area in the General Education and Training band in primary schools and of Business Studies in the Further Education and Training band in high schools.

"It has become increasingly important for school-leavers to have developed a range of managerial, consumer, financial and computer skills to enable them to function optimally in the economy," Mr Dugmore said. - BuaNews

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