The lack of financial literacy, meant as general spending-, saving-, and budgeting-skills, is one of the major societal problems in South Africa. As a direct consequence, people struggle with education expenses and most often can't afford the pursuit of their dreams, thus allowing for social inequalities. Here is where XHUMA 2015 steps in. In fact, our mission is to foster financial literacy of pupils, thus ensuring a lasting behavioral change. We strongly believe that such societal problems need to be addressed at the roots, rather than a later stage: we are determined to help children pursuing their dreams for a better career.
Our objective, however, goes beyond simply providing pupils with the needed financial literacy. We want to dream big and, most importantly, we want to leave something behind. How are we going to do this? We will provide those pupils coming from low-income families with the economic resources and financial knowledge necessary to open their first savings account, which will be the first step towards a better future and a better life, as it will allow them to save for higher education. The government-supported account will match the pupils' savings by a percentage high enough to incentivize a constant and enthusiastic commitment while ensuring a relevant contribution from the pupils themselves.
XHUMA's efforts do not address only pupils, though. We are also taking on our fellow XHUMA 2014's project by helping the seamstresses of our local partner, Little Green Numbers, in saving a percentage of their salary for education purposes. Our project will therefore cross-target different groups and we are certain this will allow us making our vision come true.
Visit us on our Social Network page to follow the current developments.
XHUMA Facebook page: https://www.facebook.com/projectXhuma