Only 20% of SA graduates are financially literate – Momentum wants to change that

Momentum will host its annual Youth Dialogues on 30 July 2026 at the University of KwaZulu-Natal’s Westville Campus, bringing young people together with financial experts and youth development specialists under the theme “Advice meets your context.”

The event, established in 2023, is held during National Savings Month and targets youth aged 18 to 35. It aims to provide practical guidance on employment, financial confidence and long-term resilience – addressing the gap between generic financial advice and advice relevant to young people’s actual circumstances.

This year’s dialogues mark 50 years since the youth of 1976 fought for dignity, opportunity and a better future. The legacy remains relevant as young South Africans continue to face financial pressures, unemployment and uncertainty.

Nkosinathi Mahlangu, Youth Employment and Entrepreneurship Specialist at Momentum Group Foundation, said the dialogues are designed to move beyond inspiration and into action.

“Young people do not need another conversation that tells them the future is important. They need advice that meets their context, networks and tools that help them make that future possible,” he said. “The Youth Dialogues are about meeting young people where they are and helping them connect their ambitions to real pathways into employment, entrepreneurship and further education.”

The dialogues will address employment as a long-term consideration, not just securing a first job.

“Employment is not only about securing a first job. It is about growing, adapting and making decisions that support long-term stability,” Mahlangu said. “When young people are given the right tools, they are better able to turn opportunity into progress.”

A 2023 study highlights the scale of the challenge. According to the Momentum Unisa Household Financial Wellness Index 2023, just over 20% of South African graduates and postgraduates are financially literate — a finding that underscores how academic achievement does not automatically translate into sound financial know-how.

Salem Nyati, Consumer Financial Education Specialist at Momentum Group Foundation, said financial education must be practical, accessible and grounded in lived experience.

“Most young South Africans enter the workforce without formal financial education, yet must immediately make decisions about income, debt, savings and lifestyle,” Nyati said. “Financial education cannot be abstract. It must speak to the reality of student loans, family responsibilities and social pressure.” Nyati said budgeting should be seen as a tool for control and confidence. “A budget is not a restriction. It is a road map. When you tell your money where to go, you build habits that protect your future,” she said.

The Youth Dialogues will include dynamic panel discussions, speed career advising sessions with financial advisors, real-life budgeting challenges, money mindset activities, interactive financial clinics and peer networking.

“Youth development must be practical, collaborative and grounded in the real economy,” Mahlangu concluded. “No two journeys to success look the same, but every young person deserves advice suited to their path. The Youth Dialogues help turn pressure into planning, and planning into a future they can call their own.”