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Financial Literacy Speech Competition winners crowned: FSCA

Financial Literacy Speech Competition winners crowned: FSCA
18-10-22 / Shelly Nxumalo

Financial Literacy Speech Competition winners crowned: FSCA

Pretoria - The Financial Sector Conduct Authority has announced that the 2022 edition of the Financial Literacy Speech Competition (FLSC) has been concluded, with Ms Kesaobaka Maamogwa from Motswedi High School in the North West
walking away with the top prize.

The financial regulator said nearly five thousand grade 11 leaners from 500 non-feepaying schools took part in the competition, with national finals held in Cape Town last week. Maamogwa has won R60 000 and a full bursary to cover all expenses for a first degree at a university of her choice.

Second place went to Ms Nolitha Maabane from Moreko High School in Limpopo, who received a R45 000 investment prize, while the third spot was taken by Mr Wanda Tshuma from Usasazo High School in Khayelitsha in the Western Cape, who received a R37 500 investment prize. All the winners also walked away with tablets and data vouchers.

The regulator explained that the learners had to research and present a speech on one of three topics around budgeting, saving for retirement, and general financial planning, adding that the adjudicating panel had representatives from both national and provincial departments of basic education, the FSCA, and the Financial Services Consumer Education Foundation.

Speaking at the event, FSCA Commissioner, Mr Unathi Kamlana, emphasised the importance of investing in young people as part of the FSCA’s ongoing efforts to protect financial customers and ensuring that South African households and small businesses are 
empowered to become financially resilient.

“When it comes to this competition, one of the most encouraging outcomes we have seen over the years is how learners are taking the financial knowledge they’ve gained, to their homes and communities. This means that it’s not just the young people that are becoming financially literate, but entire communities and the broader society are benefiting from that knowledge as well”, said the Commissioner in his keynote address.

The Financial Literacy Speech Competition has grown in leaps and bounds since it started in 2016, with two of the previous winners recently completing their studies at the University of Stellenbosch. One of them has already entered the financial sector and carved out quite a niche for himself as an online financial literacy ambassador.

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