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Standard Bank goes Beyond Wealth to empower South African youth
25 June 2019
5 rating

As part of the Standard Bank Wealth and Investment focus on building Generational Wealth, we are pleased to announce the launch of Beyond Wealth, a series of interactive engagements aimed at enhancing the personal development, self-mastery and financial literacy skills of the youth.

 Aptly launched during Youth Month, the Beyond Wealth workshops, form part of the bank’s overall objective of driving Africa’s growth through the education of Africa’s youth, and making positive contributions from a social, economic and environmental perspective.

 The first Beyond Wealth Series saw Grade 12 learners from Masibambane College hosted for a day at the Standard Bank Art Gallery. Learners were provided with hints, tips and advice to enable them to lay the foundation for a financially successful life. The initiative will soon be rolled out to learners in the other grades at Masibambane College.

 Standard Bank Wealth and Investment has supported Masibambane College over the past two years with book drives and funding initiatives to build new classrooms, so hosting the Masibambane College for the first Beyond Wealth Series was a natural fit.

 Key themes explored during the session included Financial literacy (practicalities of budgeting, saving on a limited budget, understanding monthly expenses, understanding credit), Self-discovery and personal development and Empowering Africa’s future leaders.

 Chief Executive of Wealth South Africa, Peggy-Sue Khumalo, welcomed the learners to the workshop and shared how the power of educating herself on money matters, when she got her first pay cheque, was invaluable and helped shape many defining moments in her life.

 “It was really heart-warming to see how the students of Masibambane are championing not just their own aspirations but also the aspirations of the communities that they are involved in.

One of the ways we hope to make a difference at Standard Bank Wealth is to ensure wealth is truly democratised. By this I mean wealth is no longer the preserve of the high-net worth individual. Wealth is something everyone can and must aspire to from as young an age as possible. This is a concept that we are seeing spring to life through Standard Bank’s universal financial services offering of banking and non-banking solutions. We aim to do our part to see our nation grow and create financial stability and wealth for all, says Peggy-Sue.

 Dr. Thandu Tshume, Head of Generational Wealth, engaged the learners with examples of how to map and plan their financial journeys, how to plan for unforeseen events, and a personal reflection on how his own dream became a plan.

 Qoqanani Mkhwanazi, Head of Investment Solutions also addressed the learners on a number of topics covering the development of personal skills to lead a financially-fit life, while Dr Same Mdluli, Curator of the Standard Bank Art Gallery, engaged the learners on insights into the value of investing in art for future generations, as well as the various options available to those who are considering art as a career path.

 “We are passionate about radically improving the inter-generational wealth paradigm by teaching the youth how to create, preserve and grow wealth. Building a long-lasting foundation for wealth creation and wealth stewardship is crucial to improving financial outcomes for all South African families,” says Dr. Thandu Tshume.

 “At Standard Bank Wealth and Investment, Generational Wealth is a key focus for us, we are invested in the youth of today and our belief is that this initiative will go a long way in shaping those who will ultimately become Africa’s future generation of leaders by contributing to their self-mastery and financial management skills - skills that we hope they will integrate into their lives and put them on a steady path to stability and future success,” says Dr. Thandu Tshume.

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