JOHANNESBURG – 16 March 2026 — Financial literacy has taken centre stage across South Africa as organisations mark Global Money Week, an international campaign aimed at equipping young people with the skills needed to make responsible financial decisions.
The Safer South Africa Foundation (SSAF), working together with the Banking Association South Africa (BASA), has called for stronger financial education programmes in schools, particularly in under-resourced communities where learners often have limited exposure to basic money management concepts.
Speaking at the start of the campaign, SSAF CEO Riah Phiyega said that financial education is becoming increasingly important in a difficult economic climate where many households are forced to stretch limited resources.
“Many families are facing financial strain, which makes it even more important for young people to understand concepts such as budgeting, saving and responsible spending,” Phiyega said.
SSAF has observed that many learners struggle with distinguishing between needs and wants, often leading to impulsive spending and informal borrowing among peers. Experts warn that these habits, if formed early, can evolve into long-term financial challenges later in life.
Thousands of learners reached through StarSaver programme
To tackle this challenge, SSAF has partnered with BASA through the StarSaver Financial Training Programme, an initiative designed to introduce learners to key financial principles such as saving, planning and responsible debt management.
Since its introduction, the programme has reached 11,990 learners across 118 high schools, while a condensed version has reached an additional 9,016 learners. The programme has also expanded to include out-of-school youth, benefiting 754 young people, bringing the total number of beneficiaries to 21,760.
The training sessions are delivered by professionals from BASA member institutions including First National Bank, Nedbank, Absa, Old Mutual, and Ithala Bank, who volunteer their expertise to help young people better understand the financial world.
“Smart Money Talks” theme
Global Money Week is an international campaign aimed at promoting financial awareness among young people. This year’s theme, “Smart Money Talks,” encourages open conversations about money and responsible financial behaviour.
According to Phiyega, financial literacy is about more than just numbers.
“Financial literacy is not only about rands and cents, it is about dignity, choices, and a safer future,” she said.
As the campaign unfolds this week, organisations involved hope that strengthening financial education in schools will help young South Africans avoid debt traps and develop lifelong money management skills.
