FSCA Financial Education Summit
Purpose
The FSCA Financial Education inaugural Summit was held on 28 August 2024. The Summit adopted the theme “Creating accessible financial education for all South Africans” and brings together leaders, decision makers and experts within the financial sector and field to chart a coordinated and collaborative way forward towards improved and increased delivery of high-impact and sustainable financial education.
In South Africa, financial literacy is becoming increasingly important as the country’s economic growth continues to be stunted by high levels of poverty, inequality, and unemployment. The financial sector is fast evolving, resulting in an increase in the number and complexity of products offered. The lack of basic financial literacy skills amplifies the risk of poor financial decision-making, in turn compromising financial security. Financial education aims to close this gap.
The Summit aims to elevate the strategic discussion around financial education and motivate heads of financial institutions and other relevant stakeholders to pledge their commitment towards certain financial education goals. This to progress positive financial education outcomes in a meaningful and measurable way.
Following the summit, the FSCA facilitated the discussion of the draft Financial Education Commitment Charter among stakeholders, with the intention of reaching collective agreement for future focus and collaboration.
The following presentations and the Draft Financial Education Commitment Charter were distributed during the Summit.
1. Presentation:
Global Perspective: From Financial Inclusion to Financial Wellbeing - the financial sector’s evolving role
Access the recording of the Financial Education Summit on the FSCA's YouTube page: FSCA South Africa
The Draft Financial Education Commitment Charter
The Draft Financial Education Commitment Charter is created to outline a coordinated way forward towards improved delivery of high-impact financial education. This draft Financial Education Commitment Charter sets out financial education commitments for financial sector leaders and decision makers to consider and debate over a short time. The FSCA is aiming for a final Charter to be signed by CEOs that most recognize the importance of financial education in supporting the financial
health and well-being of their customers.
Click on the link below to access the Charter
