The National Consumer Financial Education Committee (NCFEC) launched Money Smart Week South Africa (MSWSA) in 2018. Over the past six years, MSWSA has reached millions of South Africans through mainstream media, community radio, exhibitions, television, social media, and face-to-face workshops. The key objective of MSWSA is to provide a national collaborative platform that mobilises a wide range of stakeholders to empower, educate, and motivate South Africans to become more financially literate citizens.
Avo Vision has proudly been part of this movement since 2020. Through funding partnerships, Avo Vision has expanded access to financial skills, products, and services, helping more consumers make informed financial decisions and live better lives. Hanli Buber, Avo Vision's Head of Consumer Education, explains, “South Africans generally lack financial literacy. A 2021 survey conducted by the Organisation for Economic Co-operation and Development (OECD) revealed that only 42% of the adult population in South Africa is financially literate. This means that more than half of the population does not understand basic financial concepts such as interest rates, inflation, and savings. The gap is especially prevalent in rural areas and among low-income groups, where access to financial education is limited. As a social impact and community development organisation, we are committed to taking education where it’s needed most.”
On the 30th of August 2024, in celebration of Women’s Month, Avo Vision sponsored a group of women in Soweto to attend a 6-hour "Money Fo’ Sho" programme, designed to equip participants with essential financial skills and knowledge. The topics included Managing Money, Managing Risk, Banks and Savings, and Managing Credit. These all align with this year’s theme, "Protect Your Money, Secure Your Future."
Despite an initial target of 32 women, the numbers grew quickly through word of mouth. Avo Vision finally trained a group of over 60 participants. Avo Vision trainer Crystal Tau reflected on the experience: “This session was truly special. The participants were eager and full of enthusiasm. We tried to manage the number of attendees, but more and more women from the community kept joining in. It was inspiring to see how these women were so excited to learn and help each other. Many of the women began discussing how they could start small businesses to supplement their incomes. When they realised that a skill or talent could be turned into a business, they started sharing their talents, getting support and encouragement from the group. Boosting Income is a key topic we cover, especially in this economy where multiple streams of income are essential."
One participant, Ntombizodwa Motsae, shared how the workshop was a turning point for her. “This training was an eye-opener. I realise that I have made a lot of financial mistakes, but I didn’t know any better. I didn’t even realise I could save 20% of my income. I was trapped in a cycle of loan sharks, and I had no idea how to manage my finances. Learning that I can contact creditors and negotiate payment plans was a game changer for me.”
Through partnerships and innovative programmes, Avo Vision has equipped over half a million individuals with financial skills. The organisation remains dedicated to bridging financial literacy gaps and contributing to a more equitable society. Avo Vision continues to make a meaningful impact across the country, particularly through the digitalisation of its "Money Fo’ Sho" and "Money Modular" programmes. As a proud supporter of the MSWSA campaign, Avo Vision actively participates as an implementing partner for various Consumer Financial Education funding initiatives, while also hosting free financial skills workshops to further its mission of financial empowerment for all.