Footprint showcases at the National Financial Education Conference

In November we attended a National Conference on Financial Education.  What a privilege to be part of such an important event in South Africa.  Financial education is key to all of us in South Africa, especially at this crucial time in our economy.  So many people find themselves in debt with little or no idea of how to manage their money.  The conference acknowledged the need amongst consumers for financial education.  We were addressed by a number of service providers on their contributions and learned that amongst those who presented their cases there were those using similar mentorship programmes. Most don’t have the national reach that we do, and most of the workshop education used some form of hand-book for the learners, instead of the picture-based methodology that we favour. 

The conference was attended by financial institutions that are providing financial education training, government institutions, and suppliers like us.  I was in my element as there was so much to learn and so many people to network with: 150+ keen and eager delegates.

We heard from Trevor Manual our Minister of Finance who explained about the financial ‘crisis’ that the world is in and how it will effect us.  He reiterated that no matter how much financial education we pursue, it needs to be backed up with the legislation to protect our economy for it to be relevant.  In South Africa we are fortunate enough that the NCA was implemented which has prevented us from being faced with a worse situation.  There were many discussions around the governments’ role here and what should still be done.

The industry’s effort needs collaboration and the right legislation to ensure that what maximise our efforts.  There was a lot of talk about evaluating and monitoring consumer education: we are still a long way to finding the solutions but we are not alone as many international markets face similar challenges. It is something we need to be aware of for our offerings in the future.

We split into discussions groups to look at a financial education strategy going forward and I think there was consensus on a lot of the above issues.

Going forward we cannot rely on the Financial Sector Charter, as it is in review, but there are many financial service providers out there who believe in the positive effect and long-term benefit of financial education.

We had an exhibit set up, and Siphiwe from Boikamosa helped us with the stand, while Jules and I indulged in the discussions and networked like crazy! I’m not sure who had more fun! We connected with a lot of relevant people and I am so sure we are going to fly in the New Year. There was great interest in the picture-based learning and the Learning map kept people buzzing around the stand.  We have consolidated our relationship with Trainiac and look forward to building South Africa one person at a time, or should I say one proposal at a time!

What an amazing time we had!

Posted under Blog - General, Blog - Media

This post was written by Sandi on December 10, 2008