Financial education in South Africa: overview of key initiatives and actors
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Organización Internacional del Trabajo (OIT)
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| Natura: | Reporte |
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International Labour Organization
2016
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| _version_ | 1874525255031062533 |
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| author | Sibongile Sibanda Tawanda Sibanda |
| author_facet | Sibongile Sibanda Tawanda Sibanda Sibongile Sibanda Tawanda Sibanda |
| contents | Financial education in South Africa: overview of key initiatives and actors Sibongile Sibanda Tawanda Sibanda The study shows that many financial education initiatives are being implemented by a wide range of institutions. The landscape of financial education service providers in South Africa includes various government institutions and departments, financial services providers, associations and multilateral and bilateral organisations (see Table 1 for more information). However, the financial education initiatives are scattered with low levels of coordination. In 2012, the National Consumer Financial Education Committee (NCFEC) was created with membership from labour, civil society, financial industry associations, financial self-regulatory organizations, government departments, provincial treasuries and NGOs. The Committee is chaired by the National Treasury. The Financial Services Board (FSB), which is responsible for financial education as part of its responsibility for the market conduct component of the financial sector regulation, holds the secretariat of the Committee. NCFEC is mandated to (i) design a National Consumer Financial Education Strategy, and (ii) coordinate the implementation of the strategy by the various stakeholders. The Committee has also committed itself to compiling a database of financial education initiatives in the country. While the national strategy on consumer finance education was developed in 2012, coordination of the same and creation of the national database are pending. ILO publication.report |
| format | Reporte |
| id | ilo_995219472202676 |
| institution | Organización Internacional del Trabajo (OIT) |
| publishDate | 2016 |
| publisher | International Labour Organization |
| spellingShingle | Financial education in South Africa: overview of key initiatives and actors Sibongile Sibanda Tawanda Sibanda Financial education in South Africa: overview of key initiatives and actors Sibongile Sibanda Tawanda Sibanda The study shows that many financial education initiatives are being implemented by a wide range of institutions. The landscape of financial education service providers in South Africa includes various government institutions and departments, financial services providers, associations and multilateral and bilateral organisations (see Table 1 for more information). However, the financial education initiatives are scattered with low levels of coordination. In 2012, the National Consumer Financial Education Committee (NCFEC) was created with membership from labour, civil society, financial industry associations, financial self-regulatory organizations, government departments, provincial treasuries and NGOs. The Committee is chaired by the National Treasury. The Financial Services Board (FSB), which is responsible for financial education as part of its responsibility for the market conduct component of the financial sector regulation, holds the secretariat of the Committee. NCFEC is mandated to (i) design a National Consumer Financial Education Strategy, and (ii) coordinate the implementation of the strategy by the various stakeholders. The Committee has also committed itself to compiling a database of financial education initiatives in the country. While the national strategy on consumer finance education was developed in 2012, coordination of the same and creation of the national database are pending. ILO publication.report |
| title | Financial education in South Africa: overview of key initiatives and actors |
| url | https://researchrepository.ilo.org/esploro/outputs/report/Financial-education-in-South-Africa-overview/995219472202676 |