Global Money Week Focuses on Improving Financial Performance in Schools

Global Money Week has highlighted the need to strengthen financial literacy among school learners in South Africa, with organisations warning that many young people lack basic money management skills.

The Safer South Africa Foundation (SSAF) and the Banking Association South Africa (BASA) say learners need stronger education on budgeting, saving, and responsible spending to avoid financial mistakes that can affect their future.

SSAF CEO Riah Phiyega said many learners have limited exposure to everyday financial concepts such as distinguishing between needs and wants and understanding the risks of debt.

She added that some young people are influenced by social media and peer pressure, leading to unnecessary spending and reliance on informal borrowing.

Through the StarSaver Programme, more than 21,000 learners and young people have already received financial education across schools and communities in South Africa.

The programme, supported by several major banks, aims to promote saving habits and responsible financial decisions from an early age.

Under this year’s theme, “Smart Money Talks,” Global Money Week encourages young people to make informed financial choices and build long-term financial stability.

Organisers say financial education is essential in helping young people create a safer and more stable future.