In a move that seeks to improve financial literacy in schools, Old Mutual and the Department of Education have launched a financial education tool kit aimed at equipping pupils in grades 4, 5 and 6 with money management skills that will stand them in good stead once they earn an income.

In a move that seeks to improve financial literacy in schools, Old Mutual and the Department of Education have launched a financial education tool kit aimed at equipping pupils in grades 4, 5 and 6 with money management skills that will stand them in good stead once they earn an income.

The Money Tool Kit, which is a support resource for educators, consists of games, activities, posters, flash cards and assessment and lesson plan ideas.

The kit, which is being rolled out at schools, is piloted in 500 schools identified by the department.

Through playing the games and carrying out the activities, pupils will be required to read, write and comprehend, as well as apply mathematical skills.

The games can be played over and over and pupils will not notice that they are learning but rather having fun.

The resource has been designed in a way that allows pupils of various multiple intelligences and abilities to process knowledge, skills and values through non-threatening and self-paced learning experiences.

Minister of Education Naledi Pandor said: "The evolution of the education environment has various needs and the launch of this vital resource is a response to that evolution.

"The financial education tool kit also demonstrates the value of public-private partnerships in delivering the government agenda."

The National Curriculum Statement focuses on a number of critical knowledge areas, and economic and management sciences have been identified as one of the knowledge areas that require special attention.

Marshall Rapiya, managing director of Old Mutual Retail, said: "Skills and capacity development is a key element of Old Mutual's economic transformation effort and financial literacy is one of the areas that we have earmarked for support."

As a responsible financial services company, said Rapiya, Old Mutual is using this opportunity to teach pupils sound money management principles drawn from the Big Five animals of Africa as part of the group's financial education drive.

"The primary objective is to create a future generation of savers with solid financial behaviour," Rapiya said.

There are other initiatives that Old Mutual supports, such as the school name boards, school diaries, and provision of lapdesks to needy schools.

All these interventions are geared at making learning and education a priority in the lives of pupils.

Gavin Linderts, Old Mutual financial education manager, explained that the tool kit would provide a new and exciting way of teaching economic management sciences and will allow teachers to integrate across learning areas with ease.