Johannesburg, 06 October 2021: Although South Africans are still recovering from the economic destruction caused by the Covid-19 pandemic, many are becoming financially aware of the ever-changing circumstances that can impact their financial security locally as a result of a global crisis.
This was said by Idris Seedat, Head of Transformation and CSI at the Johannesburg Stock Exchange (JSE), who joins other stock exchanges in a global drive to raise awareness about financial literacy and the importance of investor education as part of World Investor Week from 4 to 10 October.
“Financial literacy plays a crucial role in economic inclusion as a means to address the challenges that South Africa faces in helping forge a culture of growth and development,” he added. “The JSE is dedicated to encouraging the participation of all South Africans in developing skills that will lay the foundation for taking advantage of the opportunities the market has to offer.”
World Investor Week is a global campaign promoted by the International Organization of Securities Commissions (IOSCO) and supported by the World Federation of Exchanges (WFE) through an initiative called Ring the Bell for Financial Literacy.
Delivering the keynote address earlier today during JSE’s Ring the Bell for Financial Literacy market open, Seipati Nekhondela, the National Treasury’s Director of Banking Development said a multistakeholder National Consumer Financial Education Committee was set up to secure the active involvement of a range of stakeholders in consumer financial education.
She said the National Treasury highlighted the importance of a financial sector that serves all South Africans, and not just a privileged few. “To establish an efficient financial services sector that is accessible and works for all – requires us to work together,” she added. “In particular, consumer financial education is the shared responsibility of many stakeholders all of which have an influential and meaningful role to play”.
Nekhondela commended the JSE’s initiatives to achieve a common goal of improving financial literacy and capability of South Africans.
The JSE’s Virtual Trading Game
Recently, the JSE launched a competition component to its longstanding Virtual Trading Game (VTG). The VTG is an online platform that simulates a real trading environment and gives members of the general public a risk-free opportunity to practice trading shares. The game is open to all South Africans to who want to learn about the stock market and investing.
The other two financial literacy initiatives that the exchange offers are the JSE Investment Challenge and #SheInvests. The JSE Investment Challenge is a youth development programme that has been running for 48 years. It teaches high school learners and higher education students the fundamentals of saving and investing.
#SheInvests is an annual conference aimed at empowering and educating women achieve financial freedom. This year’s virtual event attracted hundreds of participants who received empowering information on how to build financial resilience through investing.
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The Johannesburg Stock Exchange (JSE) has a well-established history operating as a market place for trading financial products. It is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world class, socially responsible products, and services for the investor of the future.
It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives, and debt markets. It prides itself as being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent. The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for over 130 years.
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