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'Black people weren't taught about money like young white people': Sipho 'Hotstix' Mabuse

Musician Sipho 'Hotstix' Mabuse has spoken out about financial literacy in the black community.
Musician Sipho 'Hotstix' Mabuse has spoken out about financial literacy in the black community.

Legendary musician Sipho 'Hotstix' Mabuse has reflected on his career and financial literacy, claiming black people were previously not exposed to financial literacy in the same way as white people. 

Speaking to Bruce Whitfield on Radio 702 this week, Sipho said that fame had led to him splurging money without really understanding the value of financial freedom.

"Black people were not really exposed to money in the way that young white people are taught this is how you save money, this is how you develop."

Sipho said had he had that exposure he would have made better decisions. 

He said if he had known then what he knows now, "things would have been different".

The musician, who has dominated South African airwaves for decades, said one of his greatest lessons had been learning how to be more savvy with his coins. 

Still maintaining his longevity in the industry, "Hotstix" told TshisaLive in March 2018 that young people needed to be warned about the dangers of social media. 

"We've always preferred to engage personally and face to face with each other when addressing issues and matters. It reminds you that there's a human at the end of the conversation. That human touch is more impactful, it has always been."

Mabuse added that communicating through social media eliminated the human element. He also believed young people needed to work hard and not take shortcuts.

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