About MSWSA

Financial literacy is essential to the growth & development of our Nation.

Money Smart Week South Africa (MSWSA), an initiative of the National Consumer Financial Education Committee (NCFEC), is a financial literacy campaign aimed at motivating and empowering South Africans to become more educated about their finances. MSWSA 2021 is taking place between 22 and 28 March 2021.

 

The inaugural campaign in 2018 included activities to Mamelodi, Tembisa, Alexandra and Soweto within Gauteng, reaching over 5 500 consumers at various activities and reaching over 9 million people through various media platforms.
With MSWSA 2020 being cancelled due to COVID-19, the MSWSA 2021 campaign aims to reach as many South Africans as possible via small physical events as well as online events to inspire people to become more financially literate and to educate people about the myriad of structures that exist to provide financial advice.

Background

National Treasury Policy Document: A safer financial sector to serve South Africa better, 2011.

Financial inclusion

Has the ability to improve people’s financial wellbeing. However, an environment characterised by numerous and complex financial products and many financial challenges facing households demonstrates how important education is to financial inclusion.

Consumer protection

Confidence, knowledge, information and access to make appropriate financial choices is a key aspect of consumer protection. Financial education plays a crucial role in the broader consumer protection environment.

Financial education

The Financial Sector Conduct Authority (FSCA), formerly the FSB, is mandated to “provide, promote or otherwise support financial education, awareness and confidence regarding financial products, institutions and services”.

Our Patrons/Committee

To achieve its policy objectives and education mandate, National Treasury and the Financial Sector Conduct Authority (FSCA) established the National Consumer Financial Education Committee (NCFEC). The objective of the NCFEC is to foster coordination and consistency across various consumer financial education initiatives with other stakeholders. The project is called Money Smart Week South Africa.

Money Smart Week 2020

MSWSA is based on the established Money Smart Week activity in Chicago. MSWSA 2020 will be the South African version with the support of our International counterparts.

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