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Dedicated TCTS SA Task Team Members – committed to a generation of Savvy Savers!

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Teach Children to Save South Africa™ aims to empower young learners with prudent money behavior.

This is a critical ability when making sound financial decisions which are key to financial wellbeing and ultimate success. The programme would like to encourage the bankers and financial sector professionals (“teachers-for-the-hour”) to share personal and work experiences when delivering the lesson plan in order to inspire the learners on the journey to become life-long savers.


"We salute these volunteers who are giving up their time to shape the habits of future generations and in so doing, build a better nation."

Muzi Mhlambi
TCTS SA™ Programme Coordinator
The Banking Association South Africa


"At a time of economic uncertainty and increasing unemployment levels, financial literacy provides a tool for potential long-term and sustained economic growth as it creates a culture and a generation of savers who can engage productively in entrepreneurial activities and self-employment projects.

Education on saving is a way of fighting poverty as it prompts families to make an early start on long-term saving, a key SASI objective.

The Teach Children to Save SA™ initiative thus provides a channel where parents and learners will be able to engage effectively in the economic activities of the country and ultimately contribute to the improvement of the national savings stance of South Africa."

Elizabeth Lwanga-Nanziri
Chief Executive Officer
South African Savings Institute


"At ABSA Islamic Banking (AIB), the Teach Children to Save campaign initiative forms part of our Corporate Social Investment focus. Our faith advocates charity and this initiative is a valuable contribution to the communities that have helped to make our bank a success. We are proud to be associated with TCTS SA™, and to play a role in securing the financial future of our children."

Amman Muhammad
Managing Director
Absa Islamic Banking


"Through the Skills Development Act of 1998, the BANKSETA (The Banking Sector Education and Training Authority) has, as one of its mandates, to support skills development in order to grow the current and future skills in the banking and microfinance sectors.

The Act, Skills Development Regulations and the National Skills Development Strategy provide guidelines to fulfill this mandate.

One of BANKSETA‟s objectives is to “build skills for tomorrow by empowering the country‟s youth”. In this light BANKSETA has funded a Financial Literacy project. The purpose of this project is to provide a range of end users with financial literacy information specific to their needs and requirements. To this end BANKSETA has partnered with The Banking Association of South Africa on the “Teach Children To Save South Africa™ initiative."

Lynette Mentor
Manager: Skills Development and
Sharissa Naicker
Skills Development


"Banking is a knowledge-intensive business requiring a significant investment in financial education programmes.

As one of the major banks, we have a responsibility to make a substantial investment in South Africa‟s greatest resource - our consumers and children.

At Nedbank, information sharing is about building the capacity of people to engage in actively contributing to and participating in making decisions that affect investment and work.

The Teach Children to Save SA™ campaign is one such initiative that seeks to empower and foster a culture of saving in our children - this is therefore an opportunity to instil a savings culture, create awareness about the value of money, the importance of savings, promote financial literacy and assist children to appreciate the power of choice.

Our nation‟s future success is as a result of collaboration between forward thinking organisations; progressive partnerships between the public and private sectors, and a willingness to do whatever it takes to swell our ranks of consumer education.

As for the purpose of this initiative - it is our opportunity to instil a savings culture, create awareness about the value of money, the importance of savings, promote financial literacy and assist children to appreciate the power of choice."

Mandla Zwane
Head: Strategic Relationships and Customer Education


"For the WDB Group, the Teach Children to Save South Africa™ Campaign (TCTS SA™) allows us to raise awareness about the important role that we can all play in helping South African children develop lifelong saving habits.

We are already teaching our WDB clients the importance of savings, which makes TCTS SA™ very close to our hearts.

The Lesson Plan‟s integration into the EMS learning area of the school curriculum has made for even greater impact."

Mpumi Maesela
Investment Executive
Women‟s Development Business


"South Africa's domestic savings rate has fallen from 24% in 1975 to 15% in 2009.

Through Teach Children to Save SA™, STANLIB wants to help change the culture of saving by rolling up our sleeves and changing the attitudes of the future savers of this country.

We have incorporated the TCTS SA™ curriculum into our CSI programme which will be rolled out to 11 schools in 2010 that we have adopted all over South Af-rica.

STANLIB is serious about saving and understands how important saving is for our economy. We are proud to be as-sociated with TCTS SA™ and will continue to be involved with this programme for as long as it takes to change the savings culture in South Africa."

Tshepo Ditshego
Head: Investor Solutions


"A number of South Africans have been left financially bruised from the soccer fever – entertaining family, friends and foreign visitors and buying various soccer memorabilia – it is now time for financial recovery.

We need to exercise control over our finances and to do this effectively we need a financial plan/budget and discipline. This includes credit control, monitoring our spending and avoiding the instant gratification trap.

Points to note for healthier financial management:

  • Draw up a monthly budget and keep to it
  • Plan to save, even if it is little and aim to grow your safety nest
  • Review your bank account - is it still suitable to your banking needs, providing the right pricing option according to your transacting behaviour
  • Do not borrow money for day-to-day necessities such as food
  • Are you adequately covered – personal life cover, family insurance, education policies for children, funeral cover for family and dependencies, updated Will?

This will help encourage a saving culture which currently is lacking badly amongst South Africans."

Eunice Sibiya
Programme Manager, Consumer Education Division
First National Bank


"Once again, the Industrial Development Corporation (IDC) is delighted to participate in the Teach Children to Save South Africa™ campaign.

This is an important initiative that will produce financially astute children.

And we believe that saving should start at an early age, hence our support for this initiative. The culture of saving should be encouraged and supported, particularly at school-going stage.

We are therefore pleased to be part of the Teach Children to Save South Africa™ campaign. Saving is so important for a sustainable economy."

Tebogo Molefe
Corporate Social Investment Manager


"A good culture of saving is developed very early on in a person‟s life and is the cornerstone of sound financial habits.

It may seem simple, but the difference between needs and wants, budgeting skills and the idea of delayed gratification are concepts that children need to understand to make responsible financial decisions later on in life.

Teach Children to Save SA™ is a programme that understands the need to make a difference in lives‟ of our youngsters, and STANLIB is proud to support this initiative."

Richard van der Walt
Learning and Development


"To be a “Savvy Saver” one needs to be disciplined when it comes to matters of money.

The ability to differentiate between needs and wants leads you to be a step ahead of the pack. Living economically helps – do not buy things you do not need or try to keep up with friends and neighbours, make saving a part of your lifestyle, consciously make a decision to choose saving over spending and differentiating between needs and wants and don‟t underestimate the value of budgeting."

Boitumelo Bacela
Socio-Economic Growth and Development Division
The Banking Association South Africa


"Saving should be a conscious and deliberate effort with a specific goal. It should not be an instinct or a response learnt from difficulties experienced while growing up.

The circumstances of your upbringing – whether from a family in need/average/affluent, everyone is still required to save. A savings culture should be inculcated at an early age as we are doing through the Teach Children to Save SA™ programme.

The baton to keep the message going will be handed to others as the children graduate from primary schools into higher institutes of learning."

Thabo Tlaba-Mokoena
General Manager
The Banking Association South Africa


"Ithala embraces TCTS as an initiative that offers an opportunity to educate and enlighten the lives of learners through teaching them financial literacy.

As an organisation that strongly believes in empowering people of our communities with essential life skills, Ithala promotes participation in this campaign.

A gift of sharing valuable knowledge crafts a better future to our young generation of learners which should be encouraged as an important necessity. TCTS allow us to continue spreading the light which brightens the lives of those around us."

Phumi Madlala
Compliance Officer
Ithala Limited


"Save while you manage your banking! A bank account not properly managed can lead to some expensive frustration.

Read your statement on a regular basis so you can be well informed about every transaction that occurs in your account.

This will enable you to detect all payments done, bank fees and charges for certain transactions, and from this observation you will be able to make the best decisions about the most suitable and economical transactions for yourself; i.e. Internet banking, or ATM or telephone banking, debit orders or direct transfers, etc. Although saving may not signify a specific event in our past, savings are most certainly crucial to our future.

Saving should be seen as a habit, and not something to be done at certain intervals. Saving is a culture of informed, well thought of and planned financial habits.

Account for every cent, and this attitude could see you to a financially hassle-free life. See more saving tips on our page on Face book."

Uzile Gugushe
Marketing Officer
Ombudsman for Banking


"Being committed to communities is an integral representation of who we are as a corporate citizen.

As a bank that puts its communities‟ needs first and is in the forefront of empowering and investing in its people, UBank is proud to support and participate in the TCTS SA™ campaign.

Our volunteers have generously helped us realize this since the programme‟s inception two years ago. The financial preparedness of our nation's youth is essential to their well-being and of vital importance to our economic future.

Saving is a skill that everyone needs and equips us to make tough yet smart financial decisions. Both saving and education remain a prime ingredient in providing access to employment, economic prosperity, improved quality of life, personal fulfillment and growth for all South Africa's people."

Nono Bam
Head: Community Investment & Initiatives


"Operation HOPE is committed to empowering South African youth and adults through financial literacy, dignity and entrepreneurship.

We have been a part of TCTS SA™ since 2008 and are particularly proud of our involvement. This year‟s theme "goal to save" is close to our hearts because that is one of Operation HOPE‟s Goal-to-Save.

The South African economy is characterized by poor savings and a weak savings culture, not enough is being done to develop a culture of savings from early childhood onwards.

TCTS SA™ is one of those programmes that is addressing this issue head on and through its reintroduction of the "money box" it is developing a savings culture from an early age and learners are taught about understanding the difference between needs and wants, developing a budget, where to save and reasons to save.

Since Operation HOPE embraces the same concepts in our programme we are proud to be part of the change we want to see in South Africa through TCTS SA™."

Tshidi Khuele
Program Manager
Operation HOPE


"One of the reasons TCTS SA™ targets Grades 4 to 7 is informed by research that has proven that Early Childhood Development (ECD) is imperative for social and economic development.

Hence the motto for the TCTS SA™ programme is “Ligotshwa lise manzi”, (a Zulu maxim translated „a stick is best shaped whilst still moist‟); meaning that the behaviour of a person is best molded whilst still young.

According to James J. Heckman, PhD: “Knowledge building in language and numeracy plays an integral role in the early years of a child’s life as it provides a unique window of opportunity and a solid foundation for children” (Nobel Laureate in Economic Sciences in 2000)."

Sibongile Khulu
Project Assistant
The Banking Association South Africa


"Providing financial access to the lower end of the market is at the heart of Postbank‟s mandate.

One of the many ways by which Postbank aims to do this is to ensure that products and services are simple and affordable. Simplicity therefore is the driver behind Postbank‟s Financial Literacy program.

Nothing can be said to be simple if it is not understood. Therefore, want to facilitate financial under-standing to all those souls we touch.

One aspect of Postbank‟s Financial Literacy program is to foster a culture of savings at a very young age. We believe that behaviours developed at an early age go on to shape one life. Take for instance Warren Buffet, the world‟s third richest man. He started saving at an age of seven; bought his first in-vestment at an age of 11 years. Now he is an icon and an example of financial liberation.

Postbank‟s participation in the Teach Children to Save program is one of the facets of its financial liter-acy programs aimed at young children. Through this program, we have touched no less than 1900 learners (grades 4 to 7) during 2010. They say one must learn to walk before learning to run. This is therefore also a first step in Postbank‟s walk to banking the unbanked.

The TCTS SA™ program fosters a culture of saving. It is therefore a crucial platform for Postbank, as we aim to create a generation of life long savers. We need to continue to teach our children whenever the opportunity presents about the importance of delayed gratification.

Let us continue to teach them the difference between needs and wants."

Setabo Raymond Modiba
Delivery Channel Manager



“Goal to Save” is the theme for TCTS SA™ 2010 programme in line with the historic and memorable 2010 FIFA World Cup and to utilise the appeal of the universal language of soccer to promote saving and financial literacy.
TCTS SA™ in the past two years has been rolled out in July – Savings Month.

But with the World Cup and longer school vacation period, and upon recommendation by the Department of Basic Education, the 3rd annual roll-out of TCTS SA™ was scheduled for 23 to 27 August. However, on the 18th of August, the public sector strike was announced.

This precipitated the postponement of the launch and the roll-out of the programme until the strike was called off. This decision was informed by the announcement by the various teachers unions that no teaching shall take place until a settlement is reached between themselves and the Government.

The Banking Association South Africa, SASI and its stakeholders remained committed to the roll-out of TCTS SA™ 2010 programme once the strike was called off and the matter resolved. A staggered roll-out of this year‟s programme was undertaken. We would like to thank all participating banks and financial institutions for bearing with us as we reviewed how best to deliver on this year‟s programme.

We greatly appreciate the MEC for Education in Limpopo, Mr. Dickson Masemola for agreeing to deliver the keynote address at the launch of TCTS SA™ 2010. Once again, we acknowledge that the Minister of Basic Education, Mrs. Angie Motshekga launched the 2009 TCTS SA™ at Phokeng, North West province. Our aim is to annually rotate the TCTS SA™ launch provinces. Thus far we have had the national launches in Gauteng in 2008, North West in 2009 and Limpopo in 2010.

The Islamic Finance chapter of TCTS SA™ in 2009 was launched in KwaZulu-Natal and in 2010 in Gauteng.
The Banking Association has partnered with BANKSETA on Financial Literacy, and have entered into a Memorandum of Agreement; we appreciate this collaboration. In February 2010, we made a submission to the Portfolio Committee on Basic Education on “Delivery of Quality Education and Access to Education”, on the basis of TCTS SA™ being integrated within the Economic Management Science learning area of the school curriculum, as we realize that banks and financial institutions play a pivotal role in society to facilitate financial and social inclusion.

The 3rd annual TCTS SA™ 2010 targets a national outreach of 100,000 learners at 500 schools. The pilot year 2008, we reached 50,857 learners at 228 schools and in the 2nd year, 2009 we reached 76,909 learners at 421 schools through 13 banks and 27 financial institutions that participated. We would like to acknowledge Ithala Bank for reaching and inspiring the most learners through 2009 TCTS SA™ - 16,304! And ABSA for trekking to the most schools – 57!

Our gratitude extends to banks and financial institutions that have remained committed to TCTS SA™ since its inception in 2008 and most of all to that cadre of “repeat” volunteers of TCTS SA™ - you remain amongst those that make „Everyday a Mandela Day‟. We are getting more requests from schools to deliver TCTS SA™ and rely on banks and financial institutions to address this interest and need.

Our goal is to have a nation of savers, greater and meaningful financial inclusion!
Cheers to the efforts, hard work and enthusiasm of the Dedicated TCTS SA™ Task Team members!!!



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