Project One Rand: Encouraging SA's young people to start saving
South Africa is not known for its savings culture, and teaching school kids healthy financial habits is a starting point to change this.
Project One Rand: Pupils at the Sacred Heart Secondary School in Durban. Prescient Foundation/Instagram
CapeTalk's Sara-Jayne Makwala King is joined by Nicole Pinto, CEO of the Prescient Foundation, and Grade 11 learner Zolani Ndlovu, who has completed the programme.
South Africa is known not to have a strong savings culture, and many people regret not investing during their younger years to build up financial security.
Getting kids to learn about money and the benefits of saving at a young age, would go a long way towards improving this situation.
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The inspiring Project One Rand is now making waves in local schools.
It encourages high school kids to save just R1 a day - proving that small steps can lead to lasting healthy financial habits.
Launched in Durban, there are hopes to expand the initiative to other parts of the country.
As South Africa marks National Savings Month, the Prescient Foundation has partnered with School of Savings SA to boost Project One Rand.
"We recognised the debt and savings crisis in South Africa, so this project is very dear to our hearts. We decided to partner with School of Savings in 2025 after they'd done a year within the selected schools and got a buy-in from the education department."
Nicole Pinto, CEO - Prescient Foundation
"We launched in May and since then it's been an amazing experience to see how the kids are just taking on more information about savings at such a young age."
Nicole Pinto, CEO - Prescient Foundation
In South Africa, Pinto says, we tend to learn about the devastating impact of debt and trying to get out of it before we learn how to save.
Making money and keeping it are two completely different skills, she emphasizes.
"I feel it's very important for learners to understand the concept of saving before they start making money and spending it, because it's so much harder to get out of that mindset once you're in it."
Nicole Pinto, CEO - Prescient Foundation
"What the programme is trying to do is to cultivate a healthy relationship with money at a young age and to grow financially responsible adults and break the cycle of poverty."
Nicole Pinto, CEO - Prescient Foundation
This is something Grade 11 learner Zolani Ndlovu can attest to - he says the programme gives young people like himself a sense of direction and discipline.
Find out more at prescient.co.za or schoolofsavings.co.za.
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