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SAMWU and Sanlam a leading example of financial literacy initiatives

  • Wednesday, 05 April 2017 14:54

05 April 2017

Economic strife breeds two kinds of people, it can produce those who despair and save their last pennies, conversely it can also produce another type of beings; those who are willing to blaze the trail and make a difference. This article will speak largely about the former, in the midst of a precarious economic climate, one can have confidence in the few trailblazers who endeavour to make a difference. With our country recently having been relegated to junk status, this begs the question “how many people in the general public are financially literate enough to understand what the aforementioned term denotes?”. The South African Municipal Worker’s Union represented by The President Pule Molalenyane and The Deputy President John Dlamini has partnered with Sanlam represented by Senior Regional General Manager Kobus Swart and Business Development Manager Sipho J. Mosotho in order to empower SAMWU staff in all regions with financial literacy.

This initiative will focus on providing ongoing financial awareness education and training to the members of SAMWU. Moreover, the collaboration will ensure that not only are the employees educated on financial matters, but that there is a needs analysis conducted post education to see if there is a financial product which Sanlam has which could help the employees. This does not however mean that the premise of the collaboration is to push sales from Sanlam’s side. It is the marriage of two organisations with a united goal of alleviating financial burden from staff through education.

Furthermore, the initiative will make use of the Sanlam’s web based portal. This is an electronic hub which will serve as a practical application assistant of the things learned within the programme. Employees can learn and explore various topics i.e “how to to create a spending plan?”. On a self-help basis people will learn how to use the tools and play around in order to create their own spending plan.

SAMWU and Sanlam aim to initiate a long-term and fruitful collaboration, one that benefits the two organisations mutually ensuring that those who need financial literacy receive and use it optimally. To quote Nelson Mandela “Education is the most powerful weapon which you can use to change the world”. SAMWU and Sanlam have taken the first steps in mitigating the effects of the economic climate on the everyday person, with this education and subsequently empowerment. This partnership serves as a silver lining, evidence of the fact that there are institutions that are hopeful in this country and it starts with education first.

Thandokazi Hlwatika 

*Plush Panther Management