The importance of being financially savvy cannot be underestimated especially against the backdrop of a declining economy. For consumers to be able to understand and negotiate the financial landscape, manage risks effectively and avoid financial pitfalls requires a strong understanding of financial principles a problem found in both emerging and developed countries worldwide. To this end, National Treasury, the Financial Sector Conduct Authority (FSCA) and the National Consumer Financial Education Committee will be rolling out MoneySmartWeek South Africa (MSWSA 2020) between 23 and 28 March 2020. This financial literacy campaign is aimed at motivating and empowering South Africans to become better educated about their finances.
The campaign will provide a national collaborative platform to enable expanded dissemination of financial education by participating institutions and individuals across a variety of industries and sectors, including financial institutions, Non-Governmental Organisations, (NGOs), Public Benefit Organisations (PBOs), companies, schools, universities and communities.
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