Unako

” … The Unako Community-Based Movement represents what South Africa needs today… young people who would dare to take on the world and change it…for the better. We should listen to…and learn from them…” Dr Allistair Witten

 

Responsive image

 

 

STORIES

#thinking_is_a_humanright #questioning_society #critical_literacy #unako
 

UNAKO·TUESDAY, MARCH 20, 2018

Today’s session was an emotional roller coaster for me. The session took off with excitement and happiness, it climaxed to being tearful/emotional and then it came down again to laughter. I was excited and happy when the children shared their questions and views from their communities on questions they were asking. Their questions were mind-boggling, because I didn’t expect that level of abstract thinking from them. Sivuyisiwe Foji.

LIBRARY PROJECT

Ulwazi - meaning Knowledge in IsiXhosa - is one of the most fundamental focuses of the Unako. Our primary objective is to improve the low level of literacy in township schools and encourage a culture of reading in our communities. This is done by establishing literacy clubs and reviving libraries in schools. A functional library in a school that provides a safe and conducive space for learning even afterschool is known to have the potential of improving the pass rate of any particular school. 

FINANCIAL LIT

Unako’s Financial Literacy and Entrepreneurial Skills
 
Unako is guided by her vision of committing to building a South African society of literate, critically conscious citizens, capable of participating meaningfully and contributing to the development of a democratic society.
 The evidence of history has illustrated to us that a civil society which has better understanding of personal finance and entrepreneurship imperatives is a society that contributes positively on the advancement of our well-being. It is further understood and envisaged that the corollary to cultivating such conditions would lead to an improved life for ordinary people with prosperous economic opportunities. In view of this, Unako has sought to honour her vision by initializing a financial literacy and entrepreneurial skills programme which commenced from July 2018.
 
Fundamentally, Unako’s financial literacy and entrepreneurship skills programme has been informed by troubling figures that pose a considerable threat to building a developmental state that our country espouses.
 
Notably, it is concerning that South Africa has the lowest savings rate at 14%, and is even surpassed by many middle – income and emerging economies, whose savings rates exceed 20%. The problem with low saving rates is that, people who save less tend to borrow more, thus South Africa is ranked as a country that has the highest number of borrowers at a staggering 86%. This high percentage of money borrowed by South Africans also explains why only 6% of South Africans can retire comfortably without making any adjustments to their lifestyle.
 
Unako realizes that the absurd figures stated above are so due to many South African consumers having very little understanding of finances, how credit works, and how it contributes on their financial wellbeing. The lack of understanding financial imperatives is one of the main reasons behind savings and investing problems faced by many South Africans.
 
 
Unako is mindful that the myriad of contributing factors to our low saving rate and high borrowing rate are also be attributed to our high unemployment rate (27.7%) and the unnervingly low entrepreneurship rate (6.67%), which elucidates why the South African economy has been incapable of creating jobs. Further to this, the income-based inequality or having an unflattering Gini Coefficient that ranges from 0.660 to 0.696 underscores the perpetual socio-economic malaise under which South Africa functions. This Gini Coefficient  also expounds on the country’s incongruous number of social grant recipients (above 17million) which exceeds the number of employed people in our economy (under 10million). This is simply unacceptable in a developmental state.
Consequently, at Unako, we are of the view that educating and engaging our target market, which is largely youth, about financial literacy and entrepreneurship can help in reducing our borrowing and unemployment rate, improve our savings and investing rates as the country. Financially literate consumers tend to save and invest more, they undertake insurance planning better, which helps in reducing the number of people who rely on government for survival through inheritance of investment and life policies. Reduction in transfer payments can only help our government in redirecting cash saved to economic empowerment programs, which will stimulate growth and job creation driven by entrepreneurs in partnership with government. 
We realize that our role in this domain is somewhat integrated with that of government, primarily as our objectives are centered on the need to ameliorate our communities from the social ills which envelop them.
Our hope as Unako, with the introduction of the financial literacy and entrepreneurship skills programme, is that the imagined trajectory of our youth will inspire creativity, a new found zeal for hard work and accountability, and to have the unwavering resilience to build a capable state. 
 
 

Our Facebook Page

 

Latest Tweets

Unako Vidoes