One of the major hurdles to improving financial literacy in South Africa is the limited access to financial education. Many schools do not offer comprehensive financial education, and when they do, it often falls short.
As the economy faces increasing challenges, one in three South Africans is turning to side businesses to supplement their income and make ends meet.
Tsathago Wildlife Services, a green business founded by Jacky Baloyi in Northwest, has employed 39 previously unemployed individuals through the SEF programme for bush thinning and environmental restoration.
Supported by the Do More Foundation in collaboration with Niya Consulting, this programme equipped 20 women with invaluable financial knowledge and essential business management skills.
South Africa faces a great challenge and obstacle in unemployment. Every quarter we hold on to our seats in anticipation of the unemployment statistics. What has become clear is that a shift for many of South Africa’s youth from looking for a job to creating one is necessary.
Good ideas and good partnerships develop and grow over time. They create special magic between people and visionary ideas, which, in the end, are greater than anything that we could have done on our own.
While many interpretations of this quote exist, one that is particularly pertinent is that while money may come into one's hands, those who do not understand how to control it will never grow rich.
It is frightening to note that only 49% of South Africans are deemed financially literate, and only 5% of South Africans will be able to retire comfortably. This is according to a recent article published by PocketFin.
Avo Vision plays a vital role in contributing towards the 2030 gender equality sustainability goals; over the years, women dominated all the training by just above 60 percent.
According to the South African Reserve Bank, a startling statistic reveals that over 75% of South Africans are spending most of their take-home pay on debt.
As of December 31, 2022, Avo Vision had ignited transformation across all nine provinces of South Africa, executing fifteen projects and up-skilling a remarkable 42,999 individuals.
Avo Vision's Financial Literacy programme was launched at the onset of the Covid-19 pandemic and quickly gained traction across the country.
70% of South Africans are spending all their income. Enabled by our financial education funding partners, Avo Vision has trained approximately half a million people in financial education.
The lack of job prospects and infrastructure challenges specifically in rural regions further worsen when it comes to 44% of women were affected directly and men at 41%.