eNitiate | Financial Literacy Speech Competition 2019 Finals | Mr Hlengwa | 29 November 2021


History of the Financial Literacy Speech Competition

The Financial Sector Conduct Authority (FSCA), in collaboration with the nine provincial departments of education and in conjunction with the Financial Planning Institute (FPI) , implements the FSCA Financial Literacy Speech Competition (FLSC) for grade 11 learners.

The focus of the competition was to encourage learners to become more financially literate through research and the presentation of a five-minute speech on various financial literacy topics. Previous topics included; consumer protection, financial planning, rights and responsibilities, starting a business (entrepreneurship) and engaging with Financial Services Providers (FSP’s).

The Competition was founded by the KZNFLA trust Chairman, Mr Artwell Helngwa, who continues to be associated with this initiative as its Patron. Based on the success of the KZN model, the Financial Sector Conduct Authority (FSCA) – or the Financial Services Board (FSB), as it was known up to 31 March 2019 – received funding from the Financial Services Consumer Education Foundation (FSCEF) to pilot the same model in Gauteng. The then FSB partnered with the Gauteng Department of Education and the Financial Planning Institute (FPI) and in 2016, the inaugural Gauteng School’s Financial Literacy Speech Competition was successfully implemented.

In 2017, the competition was expanded to include three additional provinces, namely; Eastern Cape, KwaZulu-Natal and Mpumalanga. Due to austerity measures, the Mpumalanga Department of Education withdrew from the project and the competition was implemented in the remaining three provinces. The format of the competition in 2017 included an inter-provincial final where the top two learners from each province competed for the title of “Winner of FSB my life my money inter-provincial financial literacy speech competition 2017”.

In 2019, funding was sourced from the FSCEF to further expand the speech competition to all nine provinces. Thus, in addition to the Eastern Cape, KwaZulu-Natal, Gauteng the North West, Western Cape and Mpumalanga, Free State, Northern Cape and Limpopo departments of education were approached to participate in the national speech competition.

Objectives of the Competition

Promote financial literacy in schools on topics such as budgeting, savings and investments and consumer rights.
Create awareness on the importance of financial advice.
Promote careers in the financial services industry for example, a Financial Services Provider (FSP).
Encourage entrepreneurship
Introduce insurance as an investment choice for all individuals and use the youth to discuss financial concepts with their parents.
Integrate theory and practice as an important principle in the Curriculum and Assessment Policy Statement (CAPS)

The 2021 Competition

FLSC 2021 has gone digital

Due to the need to keep participating learners and their teachers safe from COVID-19, the FSCA decided to run the competition digitally, without compromising the same competitive spirit that was displayed by the previous participating learners.

Format of the 2021 Competition

The competition consists of four rounds; school, district, provincial national finals.

In the School Round, only high and secondary schools in quintiles 1 to 3 qualify to enter.

Participating Grade 11 learners studying business subjects are required to compete at a school level for the first position, and they do so by presenting a five-minute speech based on a choice of one of the following three topics:

TOPIC 1: In for a penny, in for a pound; taking care of the Rands and cents!
TOPIC 2: Setting our financial GPS’: life – long journey with money…
TOPIC 3: Choices: growing my business or someone else’s?

The winning learner from each participating school is required to record their speech on any device of their choice, and get it to be uploaded by the dedicated teacher on this Website, in order to enter into the District round .

Secure online adjudications are then conducted in District and Provincial rounds, through a process of eliminations.

Secure online adjudications are then conducted in District and Provincial rounds, through a process of eliminations.

The National final will see the top learner, from each of the nine provincial finals, compete for the National Prize.

We are looking forward to a great competition from across the country. Please visit again for updated information as the competition progresses.