The Johannesburg Stock Exchange (JSE) brings to mind a fast-paced, exciting world of financial markets meant for people with lots of money.
To dispel the myth that the JSE is only for the country’s elite, the JSE partnered with the KwaZulu-Natal Financial Literacy Association (KZNFLA) to host 350 youngsters from all the corners of the province in a one- day financial literacy summit.
Learners from tertiary institutions, high schools, young entrepreneurs and youth ambassadors were taught about the importance of savings, investment and debt awareness.
According to Dudu Seme of the JSE, the purpose of the summit was to demystify the JSE.
“Without partnerships to educate the youth, we cannot hope to make the necessary impact. This partnership is fully com- mitted to financial literacy education and it believes that by focusing on the youth, this can go a long way in assisting them make informed decisions on money matters,” said Dudu.
Director of Government and International Affairs at the JSE, Geoffrey Rothschild, said young people had a huge responsibility to lead in ensuring that the needs of all the people were satisfied.
“This can only be achieved by radically in- creasing the levels of savings in our country in order to provide the necessary infrastructure for South Africa and the continent,” he added.
Learners were also taught about investment options at the JSE and encouraged to participate in investment competitions.
Ina Cronjé, MEC for Finance in KwaZulu-Natal, who is also the champion of the KZNFLA, challenged the youth to adopt an entrepreneurial spirit by starting to think along the lines of creating jobs as opposed to seeking employment. “While the idea of saving and investing may seem a lifetime away for most of our youth, it is important. “Besides energy and a passion for life, young people have a source that people of my age do not have and that is time. Time to save, time to invest, time to accumulate assets, time to prepare for retirement,” she said.