The fifth Money Smart Week South Africa will provide free financial education, as financial literacy unlocks economic mobility and enables people to achieve financial stability and secure their financial futures, says regulator Financial Sector Conduct Authority (FSCA) Conduct of Business Supervision divisional executive Kedibone Dikokwe​​.

"Money Smart Week provides free and accessible high-impact financial education tailored to diverse audiences with different needs. It leverages the voluntary participation of financial sector professionals and organisations in the public and private sectors to provide free financial education.

"Financial knowledge is a gateway to economic opportunity and prosperity. A lack of financial education in communities perpetuates financial insecurity and limits their economic potential. This is why the Money Smart Week campaign is a vital initiative," she says.

The collaborative efforts of the individuals in public and private organisations during the week, to be held from August 26 to September 1, help to raise financial awareness among citizens and provide financial education to empower them to take control of their financial lives, she adds.

Participating organisations record their content and information sessions. These are then disseminated on the Money Smart Week website and social media pages. Content from prior years is also available for participants to use or for individuals to access.

"The Money Smart Week is a recognition of the need to ensure individuals have access to financial education and knowledge to develop the skills to survive and thrive.

"Our partners enable us to reach a larger audience so that we can, together, build financial literacy in society so that everyone can make informed financial decisions and achieve financial stability and security."

The first goal of the initiative is to increase financial literacy. By promoting and providing free financial education, organisations bring personal financial awareness, savings, investment and debt management to individuals, says Dikokwe.

Its second goal is to bridge the knowledge gaps and disparities in financial literacy across communities, with a focus on inclusiveness and access.

The third goal is to empower individuals and equip them with the skills to navigate financial challenges and opportunities with confidence and clarity.

The campaign aims to motivate, empower and educate South Africans about their financial wellbeing.

"Money Smart Week serves as a platform for free financial education to the public. It is about creating a lasting impact and equipping individuals with financial knowledge, and thereby building a more resilient and informed society.

"The initiative continues to provide free education that empowers people and inspires them to become money-smart. This breaks down barriers to financial access and creates opportunities for economic mobility to shape a bright future for all," she says.