What are you doing on 18 July? 18 July 2013: ? Find out how we are celebrating Mandela Day. Today…READ MORE
The Banking Association South Africa… 04 November 2013: The Banking Association South Africa presented the…READ MORE
South Africa’s low savings rate is a concern, both in terms of individual household savings and the overall national savings rate. The average net household savings as a percentage of GDP for 2011 was -0.5%, which means South African households are spending more money than they earn. Promoting increased levels of savings among consumers is critical for South Africans to secure their own financial future and to grow the South African economy.
Teach Children to Save is a financial literacy and savings initiative founded by the Washington DC based American Bankers Association Education Foundation (ABAEF) in 1997. The initiative was adopted, localised and customised in 2008 by The Banking Association South Africa and the South African Savings Institute in conjunction with ABAEF, Operation HOPE and Citi. The success of the local Teach Children to Save programme encouraged the SADC Banking Association to endorse TCTS as its official regional financial programme.