Decoding Financial Literacy with Ellen Gower-Mzolo

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In a wide-ranging and refreshingly candid conversation, Ellen Gower-Mzolo, CFO of Fulcrum, reframes financial literacy as far more than an accounting competency, positioning it instead as a foundational life skill and a strategic business driver.

From understanding an IRP5 and retirement savings to interpreting balance sheets and cash flow trends, Gower-Mzolo argues that financial literacy underpins both personal wellbeing and professional effectiveness. In South Africa, where financial literacy remains a systemic challenge, she highlights the missed opportunity within the education system, and the responsibility of organisations to bridge the gap through exposure, tools and mentorship.

Crucially, she challenges the misconception that “getting by” equates to financial health. True literacy, she suggests, requires self-accountability, analytical thinking, and the willingness to ask uncomfortable questions, both personally and professionally. For businesses, this translates into employees who better understand strategy, cash flow, growth drivers and cross-departmental impact.

From a CFO’s perspective, financially literate teams foster stronger collaboration between finance, operations and sales, enabling smarter decision-making and more aligned execution. Within the insurance ecosystem, Gower-Mzolo sees mentorship initiatives and industry coaching as powerful catalysts for change.

At Fulcrum, this philosophy is embedded in practice: simplifying premium collections and premium finance solutions allows clients to optimise cash flow, reduce administrative burden and focus on core growth drivers. Looking ahead, she highlights AI, data modelling and strategic partnerships as key enablers of deeper industry insight and value creation.

Ultimately, financial literacy is not just about numbers, it is about empowerment, foresight and building a more resilient, strategically aligned insurance sector.