JOHANNESBURG - Only 51 percent of South Africans are financially literate.
And what's even more sobering is that South Africa has one of the lowest savings rates in the world.
This is why the National Treasury, Financial Sector Conduct Authority, and National Consumer Financial Education Committee want you to participate in Money Smart Week.
A week dedicated to empowering South Africans with financial knowledge - from budgeting to investing.
Lyndwill Clarke, Head of Department for Consumer Education at the Financial Sector Conduct Authority, has more on this initiative.