Edwin Naidu

It’s never too early for one to start saving.

Money literacy should be introduced in Grade R at schools so that a savings culture and the value of compound interest are instilled in children early in the schooling life. Savings clubs should also be formed early at schools to encourage this habit.

Experts are unanimous in their concern about South Africa’s distressing saving rates, which are among the lowest globally. The statistics paint a bleak picture. The situation is worsened when some of our leaders and celebrities, upon sudden wealth, squander their earnings on fleeting luxuries. This is where schools can play a crucial role in promoting financial literacy.

There is nothing wrong with having wonderful material things. But, taking a tip from one of the world’s wealthiest individuals, Warren Buffett when he says: “Do not save what is left after spending; instead, spend what is left after saving.”

By saving and spending what is saved, one can break free from the cycle of debt that keeps us trapped. However, there is a compelling argument for financial institutions to do better than the miserly incentives currently on offer. No wonder some well-off folks think they can earn more by keeping their money under the mattress.

As a young child growing up in a home with a single income and six mouths to feed, my dad survived every week on his modest clerk’s salary. The quantity surveying firm he worked for used to pay him weekly. There was no chance to save on school fees for five children. My late mom juggled the home fires well and ensured we had the tastiest food. But there were no savings, though they encouraged us to keep piggy banks to try and save, which we did.

This personal experience underscores the importance of early financial education. I am still recovering from the lack of education in this regard.

In the words of Warren Buffett, the key to financial stability is to prioritise savings. If we make saving a priority, we can eliminate the problem of not having enough funds to save at the end of the month. It’s a simple yet powerful shift in mindset that can make a world of difference.

For many of us, including myself, growing up meant living ‘hand-to-mouth’. In such circumstances, saving becomes a daunting challenge when you’re struggling just to get by.

Centennial Schools Deputy Principal Joseina Ramgareeb underscores the importance of saving taught at the school level by highlighting the current national savings rate of 16.3%, corresponding with an investment rate of about 18%, which will only fund economic growth of two percent.

Ramgareeb says Centennial Schools aim to produce work-ready matriculants for the economy. “We teach entrepreneurship, cryptocurrencies and blockchain, coding, and other real-world skills incorporating financial education into our curriculum. This is crucial for preparing our students for the challenges of adulthood and the responsibilities of contributing to the economy.”

Ramgareeb notes that starting an entrepreneurial venture – a lifeline for many young South Africans in the context of the prevailing unemployment – requires capital.

Without savings, one may struggle to achieve one’s goals. Of course, this can happen through taking loans from family or financial institutions. For the latter, one would need a good credit history.

Other options are available through organisations, such as the National Youth Development Agency, which funds entrepreneurs under 35.

According to Ramgareeb, a good credit history is imperative. She says one can build a credit score by having a cellphone contract, store card, or student loan in one’s name and

Returning to my wonderful parents, the rising cost of education is a testament to how people like them managed to put their children through school and make sacrifices to ensure our success. I recall school fees costing as much as R5. When my own children went through school I longed for my parent’s days.

According to research from the Old Mutual Group, putting a child through the public primary and high school system will cost parents an average of R651 313. Putting a child through private schooling would cost parents an average of R1 901 549.

Children feel empowered and learn more about financial independence when they understand basic concepts. Prostock-studio/Shutterstock

Public primary school fees are currently about R24 408 a year, while private primary schools cost about R71 496 on average per year. Sending your child to a government high school will cost around R36 072 per year, while a private high school is likely to cost between R105 084 per year.

“Parents need to understand that education will get increasingly expensive over time, outstripping salary inflation,” says Marius Pretorius, the Head of Marketing Retail Savings and Income at Old Mutual.

“In real terms, education inflation outpaces the Consumer Price Index [CPIX] by 2.5% and 3%, making it unlikely that you will be able to save the full cost of your child’s university fees.”

But, says Pretorius, that’s not necessarily the goal of a workable educational savings plan.

“Rather than getting discouraged by an impossible figure, it’s important to understand the principles of an attainable savings plan and to focus squarely on the underlying aim – that is, to support your child to become a balanced, functional, and independent member of society in whichever ways best suit their unique passions and abilities.”

“This may or may not include a university degree. Your child may require financial support to learn an in-demand trade such as plumbing or start a business. Stay open to a wide range of options and remember that by the time your child finishes school, there will be jobs that don’t currently exist,” advises Pretorius. “This will help you to navigate the decades-long journey of educating a child.”

It’s clear, though, that saving is imperative for a sustainable future. Such lessons should be instilled from an early age.

Among the long list of priorities for Basic Education Minister Siviwe Gwarube, one hopes for the introduction of a savings habit among learners at schools.

Edwin Naidu is Inside Education Editor.

Edwin Naidu

Fathima Beckmann, a former student at the Drakensberg Secondary School in Estcourt, is blazing a trail worldwide. She handles many roles with aplomb as a global intercultural, diversity, equity, and inclusion, communications strategic adviser, thought leader, and non-executive director.

Beckmann partners with private, public and community sectors to drive societal and industrial transformation worldwide.

But it all began at a rural school 80 kilometres from the famous Drakensberg Mountains. Beckmann was an intelligent, enquiring learner.

Today, she is an internationally experienced executive leader with global experience in governance and strategy, diversity, equity, inclusion, communications and thought leadership in the tech, telco and media industries.

Beckmann has held regional leadership roles with technology giants from Intel Corp, Microsoft, Huawei and Multichoice in Johannesburg and Dubai in the UAE.

Most recently, as senior vice-president at Paramount Global, Beckmann led diversity, equity and inclusion, and communication efforts across different global markets, advocating for a culture of integration, gender equity, and inclusive leadership.

Beckmann´s expertise lies in mobilising multicultural teams, fostering impactful partnerships, and driving strategic alliances.

She has been a non-executive director/advisory member for 15 years on NGOs focused on empowering youth and communities on boards from the Eskom Science Expo, Mindset Education, the Maths Centre, Cotlands, The Delta Environmental Centre and UNICEF.

Her qualifications include fostering and advancing diversity and inclusion from the INSEAD Business School in Fontainebleau, France, and Yale University in the US. She is a Women in Cable Telecommunications Global Rising Women Leaders Program graduate with a BA in Communications from the University of South Africa.

Received this treasured recipe book alongside Sports Girl trophy. An important initiative by the Women’s Culural group to keep cultural recipes continuing with the youth.

Fathima Beckmann’s Favourite Teacher

What was their name?
Mr Omar Essack.

What high school did you attend, and when?
Drakensberg Secondary School, Escourt, Kwazulu-Natal, 1987 to 1991.

How did your favourite teacher endear themself to you?
As young students, Omar reminded us there was a big world to explore, discover, and create. His teaching style, fuelled by creativity, began to shape my creative journey through communication. He always ensured we had fun and laughed.

This was a big part of his approach and inspired a natural learning style. His classes sparked curiosity and critical thinking, encouraging us to question and challenge our social environment and experiences through education and learning.

This unequivocally contributed to my long-term consideration of social impact, influence, life achievement, and perspectives. This was a crucial inspiration for students during the apartheid era.

What subject did he teach you?
English.

Did you look forward to the subject?
Absolutely, because we would always go beyond our textbook content through debate, discussion, and creative thinking. I also valued that he was aware of the class’s energy and dynamics and adapted his teaching style to the student’s needs, which was very progressive for that time.

What did you like about your teacher?
Omar’s style was approachable, accessible, and kind. He was comfortable discussing difficult and uncomfortable topics and encouraged diversity of thought and debate. Through laughter and creativity, he helped us see the lighter side of life. Always respectful, he was original and authentic in his approach, encouraging youthful expression. Art and creativity are essential to human expression, self-discovery, and confidence. Omar always supported our artistic and creative endeavours through theatre, dance, writing, comedy sketches, or debate.

What was your favourite subject at school?

I loved school and our community of phenomenal teachers and students. I had many favourite subjects, mainly English, sports, and computer science. I received the Sports Girl of the Year and Victrix Ludorum awards, which was a massive achievement. I remember getting an Indian Delights cookbook and my primary school trophy for my Sports Girl Award. I still have the cookbook, which is well-worn from the many delicious meals I’ve prepared for my family and friends.

Has this influenced your career choice, mindful of how your amazing journey has evolved globally?
Yes, this phase in high school was instrumental in shaping my long-term career in global communication, diversity, equity, and inclusion in the tech and media industries. I was on the debating and speech team and represented our school in competitions.

Omar became a trailblazer in the media and broadcasting industry, from English teacher to DJ, ENCA news anchor, CEO of Kagiso Broadcasting and Primedia and is currently part of a global broadcasting leadership team.

His passion for media and creativity ignited my academic and professional career pursuits in the arts, media, and
communication. Growing up during apartheid in a racially segregated society inspired my purpose and passion in advocating for, advancing and co-creating global inclusion and impact at scale.

What was the one phrase from any teacher that stuck with you or inspired you?
My lecturer and incredible mentor in college and PRISA Chair, Don Macey, consistently encouraged me with ‘Sky’s the Limit!’, reminding me of our unlimited potential to achieve what we are inspired to create.

Have you kept in touch with your favourite teacher?
Yes, we have regularly met throughout the years and continue our connection. Omar lives in Portugal, and I am in Madrid, Spain, which makes us neighbours in Europe.

If so, what was the first meeting like after being a learner in the classroom?
Throughout the years, Omar has shared industry learnings and guidance with me. He remains a champion and cheerleader for my achievements. As a mentor now, I aim to continue this circle of student-teacher inspiration. His humility has greatly inspired me in my leadership journey.

Why are teachers so important to society?
From my experience, a teacher’s most important role in a student’s life is inspiring a love for the journey and the gift of lifelong learning filled with curiosity and a desire to evolve and grow into our full potential consistently.
Finally, what advice do you have for learners, especially girls?

First, be you! Listen, absorb, observe, and learn from those who have walked before us. Honour and give gratitude to your ancestors. Be curious and courageous; know that you deserve to create the life and world you envision. Raise your socioeconomic and political consciousness. Surround yourself with an authentic tribe of mentors, enablers, and champions.

June was Youth Month. What would be your message for the youth of South Africa?
To every young citizen in our country and across the African continent: your dreams are valid, you are deserving of global recognition, your skills, leadership, and innovation are essential, your voices matter, and your creativity is the future currency for generational change and sustainability.

Insights from a much-loved teacher-turned-broadcaster

Inside Education tracked down Omar Essack in Portugal and asked him to reflect on Fathima Beckmann and share some
classroom memories. This was his response:
“Fathima stood out because she asked questions and always volunteered an opinion.
“As you will know, this is rare among students, despite the environment a teacher may create to encourage a dialogue. She was never afraid to offer a contrarian viewpoint, making lessons much more enjoyable.

“Sometimes, when teaching, I could sense that Fathima would challenge the prevailing consensus or offer an alternative
viewpoint – her expression changed, and I could feel a hint of scepticism in her facial expression. A quality that was all too rare and certainly welcomed in my classroom.

“Watching Fathima excel fills everyone who knows her with great pride at her achievements. It means she’s fulfilled the
potential she’s always had.

“She deserves an enormous amount of respect and admiration because she’s proven that coming from a small town in rural KZN, from a school that would rarely have had experienced teachers (many of us were fresh graduates, deployed to Drakensberg Secondary as our first posting and would be gone in 12 to 24 months) is not an obstacle for an extraordinary career with global reach and impact.

“I remember reading in one of my education course journals that ‘surprising the brain’ with something unexpected has a lasting impact on students – surprise results in greater attention and better retention, which are crucial to learning.
“This insight has meaningfully impacted my career as a teacher, a radio and TV presenter, and an executive running radio stations and media companies.

“It influenced my approach to lessons and the classroom. Later, the film ‘Dead Poets Society’ inspired a greater belief in doing different things differently and doing things differently.

“I’m a fan of the Monty Python TV series and the late actor Robin Williams. Perhaps their energy and style rubbed off on my classroom practice. I didn’t copy my own teachers in the classroom, although many of them were excellent practitioners.

“The Monty Python fandom resulted in the community of Estcourt watching an adaptation of Monty Python’s ‘Four Yorkshireman’ at the local community hall for the annual Drakensberg Secondary Festival without the unintelligible Yorkshire accents. Did it land? The students playing the roles certainly ‘ad a reet good time’.”

INSIDE EDUCATION

By Alicia Mmashakana

Cosatu, Sadtu and other teacher trade unions are outraged by the actions of Pastor Paseka ‘Mboro’ Motsoeneng, who was caught on video wielding a panga at a primary school in Katlehong yesterday.

Cosatu spokesperson Zanele Sabela, commended law enforcement  for arresting Motsoeneng and his criminal companions.

“Schools are places of learning and children should feel safe on the premises, without having to contend with adults bringing violence and weapons onto the premises,” Sabela said in a statement.

Sadtu has in a tweet said that schools are not appropriate platforms to address family disagreements. 

“We call on the relevant law enforcement institutions to act in the interest of the innocent children who are trapped in this terrible situation.

“Cosatu and Sadtu urges communities to participate in the ‘I am a School Fan Campaign’, to ensure that schools become safe havens where children can prosper.

“Schools must be a place of safety for children to be free and where our educators can provide a conducive learning environment. We must stop tolerating the violence, gangsterism and anarchy that has been endemic for years across many township schools. Our children and teachers deserve better,” said Sabela.

Videos of Mboro and his goons caused a storm on social media, where he was seen wielding a panga and threatening to cut people allegedly teachers at Matshidiso Primary School before one man, also holding a panga, was seen grabbing two young boys and leaving the school with them.

Mboro appeared shortly in the Palm Ridge Magistrates’ Court on Wednesday, with his co-accused, bodyguard Clement Camllot Baloyi and son Vincent Revival Motsoeneng. Their bail hearing is scheduled for August 16.

The three men face 12 charges including assault, handling a firearm recklessly, rendering security services while not registered, assault and intimidation and malicious damage to property.

INSIDE EDUCATION