The Tshwane Student Financial Literacy Project aims to provide Grade 8 and Grade 9 students with the life skills to foster entrepreneurship and improve basic sales & financial knowledge competencies.
Youth unemployment rates in South Africa remain a constant challenge in the fight against poverty and inequality in the country. Almost half of South Africans between the ages of 14-35 are unemployed. According to the 2015 – 2016 Global Entrepreneurship Monitor (GEM) report for South Africa, the number of entrepreneurs in the country have declined during 2015 to 2016, and entrepreneurial intention (which measures the intention to start a business) has almost halved when compared to 2010 and is lower than the African average.
Facing increasingly difficult economic conditions, many South African students lack the basic skills around money management, finance and entrepreneurship. There is a distinct lack of theoretical and practical preparation for schools and their students, in a country where unemployed graduates are often the norm and not the exception. The Global Shapers aimed to tackle this critical issue through engaging Phateng Secondary School based in Mamelodi, which currently educates over 1,000 students from the local areas, many of which come from disadvantaged households.