Absa has launched a R17million consumer education programme to help low-income earners, particularly the youth, to take control of their financial affairs.
Tagged Bubomi, which means that's life in isiXhosa, the programme was launched in Orange Farm, south of Johannesburg, this week.
Bubomi uses creative story-telling techniques to describe daily financial mishaps and personal triumphs and encourages audience participation to extract practical learning outcomes.
Bubomi is presented in the participants own choice of languages and the public understanding, education and training is aligned to the South African Qualification Authority (Saqa) and National Qualifications Framework's (NQF) unit standards.
Riah Phiyega, Absa's group executive for government relations and the Absa Foundation, said the ability to understand basic financial matters was an essential life skill needed by everyone who wishes to provide a better future for themselves and their families.
This was the case whether they are low or high- income earners, Phiyega said.
Bubomi takes place at centres throughout South Africa, including the Lovelife organisation's Y clubs for the youth.
Phiyega said that Bubomi intended to teach more than 30000 consumers about how they could manage their financial affairs better by hosting interactive workshops in both metropolitan and rural areas.
The Bubomi programme will run until December. - Victor Mecoamere