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Media Release

3 June, 2008

R7-million financial literacy programme for Western Cape learners

Statement by Cameron Dugmore, MEC for Education in the Western Cape

Western Cape Education MEC Cameron Dugmore signed an agreement with an American based global non-government organization (NGO), which will see an investment of R7,7-million for financial literacy and empowerment programmes piloted in the Cape Winelands District schools in the province.

Operation HOPE’s “Banking on Our Future” financial literacy programme is designed to help students learn the power of banking, saving, investing, self-reliance and dignity.

Operation HOPE says the mission of the “Banking on Our Future” South Africa program is to execute a global delivery system for financial education for youth and women at no cost to schools, with a focus on historically marginalised communities.

The 1-million-dollar program consists of the following six modules:

  • Basics of Banking and Financial Services,
  • Cheque & Savings Accounts,
  • The Power of Credit,
  • Basic Investments
  • Entrepreneurship
  • Dignity

Students are taught by trained volunteer HOPE Corp members, many recruited from the banking sector, to share their knowledge of banking and credit into terms that youth can understand and utilize immediately. In addition to financial education, the students are left with a message of empowerment, a message of responsibility, and most important, a message of HOPE, says John Hope Bryant, Founder, Chairman and CEO of Operation HOPE.

Hosted by MEC Dugmore and the Western Cape Education Department (WCED), Mr Bryant and senior members of Operation HOPE participated in a signing ceremony to commemorate the organization’s official launch into Cape Town today.

Said MEC Dugmore: “It has become increasingly important for school leavers to have developed a range of managerial, consumer, financial and computer skills to enable them to function optimally in the economy.

“Entrepreneurial knowledge skills and attitudes form an integral part of the Economic and Management Sciences learning area in the General Education and Training (GET) band in primary schools; and of Business Studies in the Further Education and Training (FET) band in high schools.

“The primary objective of this partnership is to deliver, promote and assess financial literacy, dignity, and entrepreneurship education for WCED learners and youth through HOPE’s Banking on Our Future program.”

For more information contact:

Ingrid von Stein 021 448 2020, cell 082 32785 63, ingrid@totalmedia.co.za

or Bradly Howland 021 448 2020 cell 072 850 3792, bradly@totalmedia.co.za

Editors notes:

Who is OPERATION HOPE? www.operationhope.org

Operation HOPE, Inc. (OHI) is a non-profit, public benefit organization, founded immediately following the civil unrest of April 29, 1992 in Los Angeles. OHI is America’s leading provider of economic tools and services. OHI is an effective facilitator, lender, advocate and educator for and on behalf of the other America.

OPERATIONS HOPE’S PARTNERS IN SOUTH AFRICA

Operation HOPE, in partnership with Citi, Deutsche Bank, International Finance Corporation (World Bank Group), Standard Bank, Clinton Global Initiatives, and the Nelson Mandela Children’s Fund among others have committed to invest $1 million (U.S.) and to recruit, train and mobilize more than 250 local professional HOPE Corps volunteers in a new and innovative private/public partnership to teach a minimum 50,000 South African youth in financial literacy, dignity and entrepreneurship in South Africa.

About: John Hope Bryant - Founder, Chairman & CEO of Operation Hope:

John Hope Bryant is a philanthropic entrepreneur and businessman. On January 22nd, 2008, Mr. Bryant was appointed vice-chairman of the U.S. President’s Council on Financial Literacy by U.S. President George W. Bush. Mr. Bryant also serves as chairman of the Under-Served Committee for the U.S. President’s Council.

For enquiries, contact Gert Witbooi:  082 550 3938, or gwitbooi@pgwc.gov.za.


Issued by:
Gert Witbooi
Media Liaison Officer
Office of the MEC for Education
Western Cape
Tel: 021 467 2523
Fax: 021 425 5689

Visit our website: http://wced.wcape.gov.za

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