NEWS ANALYSIS: Financial education not up to scratch in SA public schools
Department of basic education rejects claims it is not doing enough to equip pupils with the necessary financial skills
South African public schools are taking a scattershot approach to teaching financial education to high school students, leaving young people sadly unprepared for life. Part of the variance stems from the difficulty in defining financial literacy. Over the past decade, financial literacy has been increasingly recognised globally as an essential life skill, particularly among the youth. As many face financial decisions and are consumers of financial services, developed and emerging countries have become increasingly concerned about the level of financial literacy among their citizens. In 2005, the Organisation for Economic Co-operation and Development (OECD) recommended that financial education start as early as possible in schools. As a result, an increasing number of countries have integrated financial education topics into existing subjects during curriculum revisions. In SA , the model includes financial education in broader subjects. The Financial Sector Conduct Authority (FS...
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