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Banking Association

Teaching children to save

Tue, 30 Nov 2010 16:23

Catch ‘em young, and teach ‘em to save. That’s the message behind the Banking Association South Africa’s Teach Children to Save South Africa™ campaign, which celebrated the 3rd annual roll-out across South Africa despite having very limited access to learners and their schools because of the public servants strikes.

The programme was rolled-out in a staggered manner to ensure minimal disruption to the school calendar.

The post-programme launch event was hosted by Letlotlo Primary School in Seshego, Polokwane in the Limpopo Province. The event was attended by a variety of guests including Limpopo Education MEC Dickson Masemola,who delivered the keynote address lauded the initiative, saying it was a long-term solution to the country’s crippling debt levels.

“There is no quick solution to this problem, so government appreciates and applauds initiatives such as these which can make a difference,” he said.

TCTS SA™ is the banking industry and broader financial sector’s flagship savings campaign which seeks to instill a culture of savings among children between the ages of 8 -13 years.

According to Fikile Kuhlase, Senior General Manager of the Socio-Economic Growth and Development Division at The Banking Association South Africa children in Grades 4 to 7 are most receptive to learning positive money habits during their formative years.

It is then critical that we use this window of opportunity in shaping the knowledge, behaviour and attitudes to money matters.

These interactive one-hour saving lessons are delivered by volunteer bankers and financial sector professionals who take time out of their busy schedules to empower our future leaders.

The volunteers are guided by a lesson plan which articulates the key savings concepts such as reasons to save, budgeting, understanding the difference between a need and a want, while providing ‘real world’ context to the lesson which enables participative learning.

With the support and assistance of the Department of Basic Education, the TCTS SA™ lesson plan has been formally integrated into the school curriculum. “The success of the programme is largely due to a close working relationship with the Department of Basic Education and other key stakeholders” says Kuhlase.

Moreover the Banking Association South Africa responded to the national call for written submissions on “Delivery of Education in SA, challenges and the crucial issue of Acess to Education”.

The Association made a comphehensive submission on the importance of integrating financial literacy in the Economic Management Science and/or Life Orientation Skills subjects of the school curriculum.

“The campaign carries through and nurtures the spirit of volunteerism in the banking financial industry,” says Kuhlase.

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