Delegates at the FSCA Financial Education Summit in Sandton heard that that while financial education is already included in the current school curriculum more can still be done.
Delegates also heard that banks should play a bigger role in driving financial literacy instead of only focusing on selling financial products.
Speakers emphasised that in a credit driven economy like South Africa, there are both risks and benefits to debt.
A speaker at the financial literacy summit revealed that while financial education is covered in different phases and subjects in the basic education school curriculum, there is no clear progression of skills while there is also duplication across subjects.
Chief Education Specialist at the Department of Basic Education Mzikayise Masango says the department seeks to review and modernise the content on an ongoing basis to infuse more financial education and to train educators on the content.
