National treasury launches third instalment of Money Smart Week South Africa 2022

The National Treasury and the Financial Sector Conduct Authority (FSCA) have officially launched Money Smart Week South Africa (MSWSA) for the year 2022.

This is the third instalment of the financial literacy campaign that will take place between 29 August and 4 September 2022.

During the media briefing, the committee confirmed that the country will soon be abuzz with financial literacy activities.

MSWSA is a financial literacy campaign aimed at motivating and empowering all South Africans to become more educated about their finances. Aspiring participants are invited to join this nation building initiative aimed at improving the financial literacy of all South Africans.

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It is an initiative from the National Consumer Financial Education Committee (NCFEC) and is an opportunity for organisations and individuals to showcase their financial literacy programmes and activities across South Africa by running various activations. It is coordinated by a multi-stakeholder Steering Committee.

In his key-note address, Unathi Kamlana, commissioner at Financial Sector Conduct Authority, gave both the global and local economic backdrop and context of the difficulties that South African consumers face in 2022.

“That is where the #MSWSA22 initiative can have a significant impact on the lives of consumers. An informed, financially literate consumer is an empowered citizen. So taking financial education to the people is a paramount duty, not only for us as regulators, but also financial institutions,” he said.

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“Fundamentally, education initiatives and the work or research around it – in many instances are the critical catalyst for regulatory reform in various streams of the FSCA’s work.

“I would like to encourage all our stakeholders – especially those in the financial sector to register their activities on the #MSWSA22 platform and participate fully in all the initiatives to help increase our collective reach,” he added.

Chair of the NCFEC, Seipati Nekhondela, explained: “MSW was conceptualised around the objective of collaboration. We recognised that given the diversity of South Africa, to reach large audiences and convey financial education messages more inclusively – it would only be done collaboratively”.