12 May 2025 | Story: Tayron Mhlongo | Photo: Peter Masela
2 minutes read time.
In a country where only 51% of citizens are financially literate, and where poverty, inequality, and unemployment remain high, financial education has become essential for both personal security and national economic growth. The “Money Matters” financial literacy event, hosted by Student Life and Governance (SLG) in collaboration with Student Village, Assupol and Standard Bank at the Vaal University of Technology (VUT) on 30 April 2025, marked a vital step towards equipping the next generation with essential money management skills.
The well-attended event brought together students from across VUT’s faculties to explore fundamental financial concepts, savings strategies, and investment opportunities. This initiative comes at a crucial time, as recent studies show that even high-income earners in South Africa often struggle with financial literacy, with many burdened by significant debt despite strong earning potential.
Adding celebrity appeal and real-world perspective to the programme were PD Jokes, a musical artist and well-known content creator, and Ms Tebogo Mphahlele, a Deloitte M&A Corporate Financial Professional and Miss Mamelodi Sundowns for Gauteng Province. They shared personal insights about maintaining financial discipline in the entertainment industry and cautioned students against lifestyle inflation and the tendency to increase spending as income grows.
Mr Musa Mpanza, Director of SLG, delivered a particularly impactful message on the importance of developing saving habits early. “It is important to begin saving money now,” he emphasised, noting that many graduates face uncertain employment prospects in South Africa’s challenging job market. He further highlighted SLG’s broader mission to cultivate techno-entrepreneurial mindsets among students, explaining that financial literacy is a foundational skill for successful entrepreneurship and a potential solution to the country’s high unemployment rate.
The event received strong corporate support, with sponsors including Telkom, Huawei, Honor, the Small Enterprise Development and Finance Agency (SEDFA), and the SWAT Community Foundation. These partners not only provided financial backing but also practical resources and information stations where students could learn about financial products, entrepreneurship opportunities, and available support services.
Standard Bank representatives conducted mini workshops on budgeting techniques tailored for student allowances, while SEDFA provided information on funding opportunities for student entrepreneurs with viable business ideas.
The event concluded on a high note with giveaways and the distribution of practical items, including financial guidebooks for active participants. The SLG expressed pride in hosting an initiative that responds to both the immediate financial needs of students and their long-term economic well-being. By equipping students with fundamental financial knowledge, the event aimed to ensure graduates are prepared not only to complete their studies but also to manage their finances effectively throughout their lives.
With financial literacy increasingly acknowledged as a critical life skill in South Africa’s economic context, the “Money Matters” event stands as an important step towards creating a more financially empowered generation, capable of contributing meaningfully to the country’s economic growth and stability.
