The UWC FinLit Challenge was about students redesigning the financial literacy experience of young adults aged 18-25 years. The challenge was offered by Metropolitan’s (MMI Foundation), in partnership with UWC Centre for Entrepreneurship and Innovation (CEI) and Innovate South Africa.
It created an opportunity for students to bring their voice and perspective to a very pertinent issue in South Africa. Financial Literacy, which is a vital need among young adults in South Africa in order to improve their financial security and avoid the debt trap so prevalent in the country. There is a particular gap in knowledge among young adults after they leave home and are required to be financially independent as they become less reliant on their parents or guardians.