FLSC 2022 PRIZES
The winning learner from each district will receive a tablet with 500mb data loaded.
The winning learners of the provincial final shall be awarded prizes in the following order:
- R 30 000 for the winner;
- R 15 000 for the first runner-up; and
- R 7 500 for the second runner-up.
The schools of the winning learners of the provincial final shall be awarded educational material of the schools’ choice to the following order:
- R 30 000 for the winner school;
- R 15 000 for the first runner-up’s school; and
- R 7 500 for the second runner-up’s school.
The winning learner of the national final will be awarded prizes in the following order:
- R30 000 for the winner;
- R15 000 for the first runner-up;
- R7 500 for the second runner-up; and
The top three learners will also win full bursaries for a three-year qualification at a public university.
The bursary includes tuition fees, textbooks, accommodation with meals and a monthly stipend. The bursary will be for a period of three (3) years only.
The provincial and national winners and their parents or guardians will receive comprehensive financial planning sessions and financial advice to be provided by a CERTIFIED FINANCIAL PLANNER®, who is professionally appointed by the Financial Planning Institute (FPI). These sessions are designed to assist the winning learners and their parents or guardians on the utilisation of the prize money.
Such financial advice will be provided in accordance with provisions of the Financial Advisory and Intermediary Services Act (Act 37 of 2002) and will be rendered free of charge to the parent or guardian.
Disbursement of the award will only be made as per the documented advice provided by the CFP® professional; therefore, the winning learners and their parents or guardians must avail themselves to these financial planning and advisory sessions.
Should a financial product be selected, the prize money will be disbursed directly to the product supplier or should a financial product not be taken up, then the payment will be disbursed according to the advice of the financial planner.
No disbursement will be made directly to the winner, parent or guardian or any other party who is not recommended by the financial planner.
Note that any further financial advice that is provided by agreement between the financial planner and the parents or guardians of the winners, which also falls outside of the scope of the terms and conditions prescribed for this prize, are excluded from these conditions. Note further that the FSCA will also not be held liable with regard to this further advice.
The above-mentioned prizes are not exchangeable for cash and can only be disbursed upon fulfilment of the following conditions:
- The capturing of the scores, and the results of the competition final, will be audited by an independent Registered Auditor as defined in the Auditing Profession Act (Act 26 of 2005).
- Winners will be chosen by an independent panel of judges. The judges’ decision shall be final with no further recourse thereto.
- Once the prize money is disbursed, the FSCA will have no further obligation regarding the prizes.
- Winners will be required to provide periodic feedback regarding the competition to the FSCA via interviews for a period of no more than three years from the date of the final. The CFP® professional will also report back to the FSCA once all is completed from their side.
- A monitoring and evaluation service provider who is contracted by the FSCA, and who will be following the finals, will make contact with the winners and their teachers. Interviews and focus group discussions.