In Durban today the Johannesburg Stock Exchange, in partnership with the KwaZulu-Natal Financial Literacy Association (KZNFLA) (including Visa Sub-Saharan Africa, Ithala, Bank, and the Provincial Treasury), successfully hosted more than 350 youth from all the corners of the province in a one day financial literacy summit.
The audience, comprising students at tertiary institutions, high school learners, young entrepreneurs and youth ambassadors, were educated about savings and investment, as well as debt awareness.
Dudu Seme of the Johannesburg Stock Exchange (JSE) said it wanted to debunk the myth that the Johannesburg Stock Exchange is only for the elites and the purpose of the summit was to demystify the JSE. “Without partnerships to educate the youth, we cannot hope to make the necessary impact. This partnership is fully committed to financial literacy education and it believes that by focusing on the youth, this can go a long way in assisting them in making informed decision in money matters.”
JSE Government and international Affairs, Head, Mr Geoff Rothschild said, “I am in admiration of what the KZN MEC for Finance and her department are achieving in the support of financial literacy for the youth in KZN. This is evidenced by the tremendous turnout at today’s event and the enthusiasm by and questions from the audience. The youth have a huge responsibility to lead in ensuring that the needs of all our people are satisfied. This can only be achieved by radically increasing the levels of savings in our country in order to provide the necessary infrastructure for South Africa and the continent.”
The audience were told about different investment options at the JSE and informed about investment competitions for high school learners and university students.
Delivering the keynote address, KZN MEC for Finance, Ms Ina Cronjé, who is also the champion of the KZNFLA, challenged the youth to adopt an entrepreneurial school of thought by starting to think along the lines of creating jobs as oppose to seeking employment. “While the idea of saving and investing may seem a lifetime away for most of our youth, it is important.”
“Besides lots of energy and a passion for life, young people have are source that people of my age and parents do not have: time, time to save, time to invest, time to accumulate assets, time to prepare for retirement” Cronjé said, adding “save money. early.”
Kate Kelly, Corporate Relations Manager for Visa Sub-Saharan Africa, which staged a very entertaining, informative, and educative show on financial literacy said that: the most important financial tool is not a product, it is knowledge. “We have found that our fun and entertaining financial literacy show engage the youth on important topics such as financial planning, budgeting and saving,” she said.
In closing Ms Dudu Seme from Johannesburg Stock Exchange thanked all the partners for the valuable informative presentation which was well received by the audience. The partners were: KZN Provincial Treasury, KZN Financial Literacy Association, Visa Sub-Saharan Africa, The Banking Association South Africa, National Credit Regulator, Strate, and Financial Planning Institute.
