By Brendan Africa, Financial Director at Foord Asset Management

Research by the Financial Sector Conduct Authority (FSCA) and the Human Sciences Research Council (HSRC) suggests that only around 51% of South African adults are financially literate. That figure, on its own, is concerning; but what does it mean for South Africa’s youth? As July’s National Savings Month comes around again, it’s an important time to reflect on the foundations required to better understand saving and investing.

Low financial literacy has a disproportionate impact on young people because it shapes how they enter the economy, manage their first paycheques, and ultimately their prospects of achieving financial stability.

UNICEF data from June 2025 states that globally only around 4 in 10 children aged 3 and 4 attend early childhood education, with only 1 in 4 attending in sub-Saharan Africa. For those who have access, the benefits are immense with research indicating that early childhood education (including pre-school) is closely associated with stronger foundational skills, and long-term educational trajectories.

While the opportunities may be limited to attend a pre-school for some, broader access to foundational teaching is available through books, which can bring a new dimension to learning and understanding real world concepts, be it at home or at school – particularly around finance.

Foord Asset Management is a firm believer in the power of early education and has recently released the third book in its Teach Your Child to Invest series – That’s just nuts.

Launched six years ago with the first title, More than enough, the series uses storytelling to simplify complex financial concepts for both children and their parents. In the first book, Anele the squirrel learns the importance of growing acorns not just for today, but for the many years to come – a lesson in saving and long-term thinking. A few years later came Little by little, where Anele and her friend Mpumi the woodpecker learn about patience and the power of incremental progress – principles that sit at the heart of investing.

The third book, That’s just nuts, launched this year at a learner centre in Langa, Cape Town, introduces a new character, Simon, and explores the idea of quick-win investment opportunities that seem too good to be true. Through a narrative that mirrors real-world market behaviour, the stories help families make sense of speculative bubbles and the importance of disciplined investing.

To date, more than 200,000 copies of the series have been distributed free of charge to schools, libraries, community centres and homes across South Africa. This reach has been made possible through partnerships with non-profit organisations and community groups, helping ensure the books reach families who may have limited access to financial education resources. One such partner, Avocado Vision, has developed a teaching programme around the first book, deepening engagement and reinforcing these lessons in practical ways.

The decision to focus on parents among the readers is intentional. While schools play a critical role in education, the foundation for financial habits is often laid much earlier – and much closer to home. Parents influence how children think about money on a daily basis: how it is earned, spent, saved, and discussed. By equipping parents with accessible tools and frameworks, we can begin to shift financial behaviours at a household level.

Importantly, the series is designed to be inclusive. Financial jargon can be intimidating, particularly for those who have not had exposure to formal financial education. By using storytelling, familiar characters, and simple analogies, the books aim to break down those barriers and make financial concepts relatable and actionable.

There is also a broader philosophy underpinning this initiative. As an asset manager, Foord’s core approach is built on long-term thinking – understanding that value is created over time through discipline, consistency, and patience. These same principles apply at an individual level. The earlier they are understood, the more powerful their impact.

South Africa’s financial literacy challenge will not be solved overnight. It requires sustained effort across multiple fronts – policy, education, industry and communities. But one of the most effective starting points remains the simplest: helping families have better conversations about money.

Because when financial literacy starts at home, its effects extend far beyond the household. It shapes how young people engage with the economy, how they build resilience, and ultimately, how they participate in the country’s future growth

In that sense, teaching a child about money is not just an investment in their future; it is an investment in the future of South Africa.