Did you know that, according to the Organisation for Economic Co-operation and Development ‘s most recent report on the levels of financial literacy of adults in G20 countries, only 40% of South Africans are active savers? What’s more, 49% of respondents indicated that their income does not always cover their living costs and 33% borrow money to make ends meet. Wanting to equip tomorrow’s adults with healthy financial habits today, Metropolitan has recently brought its Kickstarz financial education programme back to the Beacon Hill Secondary School in Mitchells Plain where more than 200 learners were given the opportunity to change their financial futures.
This is the second consecutive year that the programme has been presented at Beacon Hill. Kickstarz taps into teens’ love of sneakers by challenging them to start their own (fictional) sneaker companies and market their own uniquely designed shoes to the rest of the school. The Principal, Greg Kannemeyer, said: “Our learners are doing so much better when dealing with finances and are even giving their parents financial advice. Kickstarz is actually changing communities because I believe that, in 20 years, we will have a community that will be financially savvy.”
Through running their businesses and with the help of a few interactive lessons, the students learnt financial basics from how to read a bank statement and how to plan and follow a budget, to more advanced issues like how to build up a good credit record and stay out of debt.
On the final day of the programme, the young entrepreneurs got to display their sneaker designs and a judging panel decided which was the best-performing ‘business’. All members of the winning team, Speed Catchers, walked away with a pair of sneakers made using their design. Adding to the day’s excitement was Kyeezi from Good Hope FM, who hosted the event.
“Not only does the programme hone the learners’ financial and money management skills, it also improves their other skills like working within a team and presentation skills. KickStarz also opens entrepreneurship up as a career option which is crucial given South Africa’s severe youth unemployment problem,” says Charlene Lackay, Group CSI Manager at MMI Holdings.
The next school to undergo the Kickstarz programme will be North Coast Agricultural College in KwaZulu-Natal.
For more information, visit https://www.metropolitan.co.za.