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Financial services industry ups the ante on money skills for young people

Financial services industry ups the ante on money skills for young people
Neesa Moodley
By Neesa Moodley
23 Aug 2023
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In at least two separate initiatives currently under way, the JSE and the Financial Sector Conduct Authority (FSCA) are making headway when it comes to improving financial literacy and equipping the youth of today with financial skills for tomorrow.

A few Worcester parents are in for a surprise when they realise that the “accounting project” their children have been working on is actually the JSE Investment Challenge. 

Kevin Naylor, a Grade 12 pupil at Worcester Gymnasium, says the team decided not to worry their parents with details until they had some news. His team, CSW Millionaires, won the high school speculator category for July with a portfolio growth of 1.56%.

Members of the team are in Grade 12 with plans to study physiotherapy, chartered accounting and financial accounting next year. 

“When our accounting teacher told us about the JSE Investment Challenge, we thought it would be a great experience to round off our last year at school,” Naylor says, adding that after entering with high hopes, they discovered how difficult stock selection can be. 

The other members of CSW Millionaires are Anke Petersen, Abukwe Fusa and Carla Cloete. 

For more information, visit Facebook @JSEChallenge, Twitter @JSE_Challenge and Instagram @JSEChallenge or www.schools.jse.co.za

July winners


The category winners for July are:

  • Income category: MP on Topfrom Mpumelelo Secondary School in Mpumalanga, with R15,190.58.

  • Equity portfolio: RM Super Market from Mountainview High School in Gauteng, with growth of 2.63%.

  • Speculator portfolio for schools: CSW Millionairesfrom Worcester Gymnasium in the Western Cape, with growth of 1.56%.

  • Speculator portfolio for universities: VK 29 MMSfrom University of Johannesburg, Gauteng, with growth of 7.67%.

  • ETF/ETN portfolio for universities: Healthy Profits from Stellenbosch University in the Western Cape with growth of 1.58%.


The JSE Investment Challenge is proudly supported by Daily Maverick. DM 


Financial Literacy Speech Competition


The FSCA is running the 2023 FinLit Speech Competition, funded by the Financial Services Consumer Education Foundation, with an estimated 5,000 learners expected to compete this year. The competition is targeted at Grade 11 learners from quintiles 1 to 3 (non-fee paying) schools, focusing on subjects in the commercial stream.  

The primary objective of the competition is to promote financial literacy by encouraging learners to conduct in-depth research on selected financial topics and present their findings eloquently in a five-minute speech. Themes explored include financial planning, consumer protection, consumer rights and responsibilities, entrepreneurship and engaging with financial institutions. 

Learners and teachers from participating schools have reported in previous years that the FinLit Speech Competition inspired them to become more mindful of the role finances play in their lives and provided them with tools to become financially resilient. One of the participants remarked that the competition broadened her knowledge, and she encouraged relatives and classmates to practice good financial behaviour by giving them reasons for saving money.

The top three winners per province will receive R36,000, R18,000, and R9,000, respectively. At the national finals, an additional set of prizes to the same value will be up for grabs. The three national winners will each receive coveted full bursaries worth up to R500,000 each, enabling them to pursue higher education at a tertiary institution of their choice.

“The Financial Literacy Speech Competition is a powerful platform for nurturing financial awareness and responsibility among our nation’s youth,” says Lyndwill Clarke, the head of consumer education at the FSCA.

The competition is already under way at school level, with schools finalising their winning candidates and uploading their speeches on the dedicated platform www.fscaspeechcomp.co.za

Parents and learners at schools in quintiles 1 to 3 can ask their business studies, economics, and accounting teachers to confirm if their school is participating. #FinLitSpeech or #FSLC2023SA www.fscaspeechcomp.co.za DM

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