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The Financial Services Board's Consumer Education Department collaborated with the Cooperative Banks Development Agency of the National Treasury to pilot an investor education project for members of Co-operative Financial Institutions (CFIs) in Limpopo province. The project commenced in July until end of November 2017, reaching about 547 (CFI) members.
The aim of the investor education programme was to enhance CFIs members financial management knowledge and raise awareness around different investment products.
The following topics were covered during the workshops:
1. Money management;
2. Why invest;
3. Saving versus investing;
4. Understanding investment terminology;
5. How to buy investment products;
6. Risks related to investment products;
7. The role of financial advisors and how to recognise a pyramid scheme.
Workshop attendees confidently commented that the information shared at the workshop will empower and enable them to make informed financial decisions on behalf of their members.
For more information, contact the Financial Services Board on 012 428 8000, 0800 11 04 43 or 0800 20 20 87 or visit the website https://www.fsb.co.za
Consumer Education Department