By Sethu Tshabalala

On Saturday the 8th of June 2019 the Tshwane Hub successfully completed the 3rd annual session of Financial Literacy at Phateng High School in Mamelodi. The purpose of this project is to educate grade 8s and 9s basic business and accounting principles and to provide them with funding to run their own small-scale businesses within the school for a few weeks.

Success Factors

This year we saw many successes as a hub in the growth of the project.  It was the first year we were able to secure external funding from our key sponsor Nedbank Group. We had the privilege of being sponsored by Debonairs at the last session with pizza meals for all students and staff.  It was the first year we were able to double the first intake session from 50 students to above 100 students. This was due largely thanks to the school staff who successfully promoted the project at school: fellow Global Shaper Arnold Maudi, Miss AK Dilebo and Mr Mohlala, principal of the school.

We interesting new businesses such as a car wash business for teachers and a sandwich and coffee breakfast businesses which catered to the needs of learners who need breakfast when the school starts. In the end however, it was a traditional student business which one the contest: Marvellous Cookies: Kgotlelelo Mathebula; Thabiso Ledwaba; Tlotlego Dhulaza. This team attributed their success to working consistently as a team throughout each of the three weeks of the selling period.

Lessons Learnt

As a hub we also built on our learning. We saw that teams who had better work relationships and team accountability made more money. Perhaps the greatest lesson for all teams was the importance of being able to cost their product accurately as those who struggled to generate a profit often did so not due to a lack of sales volumes but due to lower pricing than the cost of their products.

Last but not least, as a result of our presentation of the project at SHAPE Africa in Nairobi Kenya, the Tshwane hub was able to host a knowledge sharing session after the conference with hubs from Kampala, Joburg and Bujumbura to help them consider their own potential rollout of this project.

Round of Applause

Thank you so much to Nedbank Group, Debonairs Banbury Crossing, Arnold Maudi, AK Dilebo and Mr Mohlala as well as all staff at Phateng who support this project annually, the Financial Literacy working group, former Curators: Rivonia Pillay, Shamiso Kumbirai, Thembile Ndlovu as well as all the Tshwane hub members who participated in the execution of the project in 2019.

It has been an incredible privilege to lead this project under the guidance of the Tshwane Hub. I look forward to watching it grow from strength to strength as I hand over to a new incoming Global Shaper for the next season.

As a hub we are truly passionate about education and young people. As members of the Global Shaper Community in Tshwane, our endeavour will always be to shape our community for the better.