Unlocking South Africa's potential.
We recognise that greater effort is needed to equip young people with the necessary skills to actively participate in the economy. Through financial inclusion and improved financial literacy, the Momentum Metropolitan Foundation (MMF) aims to pave the way for a more prosperous and financially savvy society.Our recently revamped Consumer Financial Education (CFE) strategy reflects objectives that aim to meet the vision for the future of financial education. We want to provide financial education that makes a meaningful contribution to the financial capability of young people and gives them the confidence to pursue their dreams.
We offer our programmes to the following target audience:
Our digital financial literacy programmes have taught us that the pandemic has led the youth to become more tech-savvy individuals interested in self-development and enhancing their employability. In response to the demand, we offer digital financial literacy programmes along with traditional face-to-face programmes.
These programmes are thoroughly researched, developed, implemented and analysed, with the learnings applied to develop fit-for-purpose programmes. We have developed three modalities through which we deliver our programmes: online self-learning, blended learning and face-to-face learning.
Our online modality offers a convenient way to engage with the content, as it is a self-learning programme, providing participants with a way to engage with the content at their leisure. The first phase of our Consumer Financial Education (CFE) programme, Motheo 1.0 made available from March 2023 to July 2023, will be the baseline from which we improve our programmes offered in the next phase of implementation.
The blended modality integrates face-to-face and online learning. Our facilitators conduct an orientation session face-to-face to explain how the online learning platform works and what to expect from the programme. Sessions take place over 5 weeks. Learning exercises are geared towards active learning where participants apply the knowledge gained.
Our face-to-face modality has proven to be the modality of choice for our beneficiary organisations and participants. Its popularity is understandable in a country where the post-Covid impact, loadshedding, poor network connectivity, limited access to data and unreliable infrastructure occupy the thoughts of every South African. Being interactive and engaging means that this modality will remain constant in our offering.
The key to knowing whether there has been impact influencing the financial decision of youth is in the measure of a change to mindsets, attitudes and behaviour. To gain valuable insights into how to effectively engage our target audiences, MMF conducted a survey on social media to analyse unemployed youth in June 2023. The findings will serve as a valuable reference point in designing financial education programmes that are tailored to meet specific needs, measurable in their impact, and capable of creating a meaningful difference.The terms and conditions of the Consumer Financial Education Research study can be accessed by clicking on the link: Terms and Conditions.
South Africa currently has a youth unemployment rate 46,5%. As the youngest continent in the world, this statistic highlights the pressing need to address the challenges faced by our youth in securing gainful employment opportunities.In June 2023, MMF conducted a survey to analyse unemployed youth on social media. The findings will be used to develop a financial education programme encouraging entrepreneurship as an alternative income source. This programme recognises that formal education alone does not guarantee employment and focuses on supporting the development of side hustles and small businesses. Extensive research and a pilot implementation in 2024 will target unemployed youth and individuals with side hustles or small businesses.Research findings will further inform the next phase of our flagship programme Motheo Financial Dialogues, Motheo 2.0. The programme will be offered to higher learning institutions, work readiness programmes and young people who were recently and are about to be employed. Motheo will be implemented in 3 phases over 3 years into the 2026 financial year to support the objectives of our CFE strategy.
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