July is National Savings Month, and the Prescient Foundation is celebrating its 20th anniversary by investing in youth empowerment through financial literacy. This year, they are reaching 500 Grade 10 learners across Durban with Project One Rand, an initiative designed to equip learners with the tools to build a savings mindset.
Empowering Youth through Project One Rand
The Prescient Foundation, in collaboration with the School of Savings South Africa, has expanded Project One Rand to four additional Durban schools. Nearly 500 learners are now part of this inspiring and transformative programme:
- Sacred Heart Secondary: 167 learners
- Westham Secondary: 92 learners
- Magqibagqiba Secondary: 117 learners
- Phoenix Tech Secondary: 116 learners
Nicole Pinto, CEO of the Prescient Foundation, highlights the importance of financial literacy:
“With Project One Rand, we’re not only teaching learners to save – we’re equipping them with the habits, confidence, and knowledge to make smart financial decisions for the rest of their lives.”
Project One Rand moves beyond classroom theory using PENNYWI$E Money Management. Learners receive:
- Workbooks and activity guides
- Money boxes to encourage saving R1 a day
- An 18-month programme to ensure lasting behavioural change
Addressing South Africa’s financial challenges
Youth unemployment, household debt, and instant gratification culture are barriers to financial independence. Through Project One Rand’s principles of Decision, Direction and Discipline, learners cultivate:
- Saving habits that promote financial resilience.
- Delayed gratification skills essential for future success.
- An understanding of good vs bad debt.
Joe Chetty, founder of the School of Savings, says: “Together with the Prescient Foundation, we are planting the seeds of financial confidence and resilience in the next generation – one rand, one lesson, and one learner at a time.
Impact and vision of the Prescient Foundation
Since its founding, the Prescient Foundation has prioritised youth upliftment, community development, and education. Project One Rand complements their mission by teaching learners not just the value of saving but the importance of making future-focused financial decisions.
The programme’s expansion builds on a successful 2023 pilot phase that impacted three Durban schools. This year, even more communities are benefiting as financial literacy shines a light on South Africa’s low savings culture during National Savings Month.
Pinto adds: “This is about more than saving a few rands. It’s about empowering the next generation to take control of their financial futures. As we celebrate 20 years, we’re proud to invest in the future leaders, earners, and changemakers of tomorrow.”
The importance of building a savings mindset
Project One Rand’s practical approach transforms financial literacy into actionable steps, laying the groundwork for long-term success. The Prescient Foundation’s support ensures this critical knowledge reaches learners where they need it most, providing them not just with skills, but with hope for a brighter future.
As South Africa celebrates National Savings Month, the Prescient Foundation’s initiatives are a step towards building a savings mindset and a more financially healthy future.
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