Blackbullion South Africa
Blackbullion South Africa, a product of WaFunda, will deliver engaging and impactful financial literacy content developed for South African youth to enhance their personal financial management abilities. The platform, which is adapted for South Africans by WaFunda from an international platform in the United Kingdom, was launched during an online webinar on 9 November which unpacked the complexities of financial literacy in a multicultural society.
WaFunda, a social impact enterprise based in Cape Town, brings education and training, entrepreneurial and work programmes, and ethical education financing to youth and students. WaFunda will position its Blackbullion South Africa offering to create meaningful social change for South Africans through democratised access to financial education.
“We are delighted to bring this educational tool to help South African students and youth develop their understanding of financial management and to thrive. Developing an understanding of these principles can play a major role in enabling youth to pursue their dreams in education, their careers or empowering their families,“ says Leana de Beer, CEO of WaFunda.
To democratise access, the Blackbullion South Africa platform will be accessible to bursary students and young people through participating bursary schemes and youth development programmes offered by corporations and educational institutions across the country. The content on the platform is structured as learning pathways and articles, where students can earn badges and ‘bullions’ as they progress through content.
“Our aim is to develop a growth mindset among youth and students when managing their finances. The Blackbullion South Africa platform will provide an accessible framework for youth navigating financial hardship with limited resources and avoid some of the most typical pitfalls such as unnecessary debt or insufficient budgeting,”, added de Beer.
The content has already made a difference to a selection of students through a pilot of the platform, which was rolled out by student crowdfunding organisation, Feenix.
“The Blackbullion South Africa Financial Literacy Platform has helped me gain insight in how to manage and prioritise my financial obligations. This may be general knowledge for some, but the platform has put me in a better position than what I was just a few months ago.” says Joyce Ndada, a science student at the University of Stellenbosch.
For many South Africans, financial literacy remains elusive and the subject of financial management is unaddressed in many South African households. The Blackbullion South Africa platform seeks to create a community of knowledge sharing, where youth can relate their experiences and grow.
“Financial freedom is about more than navigating through financial hardship. It is about leading a meaningful and fulfilling life by being able to access what is important on a personal level. This can also translate into professional fulfilment. By lifting the burden of financial hardship, youth will be able to focus on discovering and pursuing what is most meaningful to them.” added Vivi, Friedgut, Founder of Blackbullion.