July is National Savings Month
As South Africans do not generally have a savings pools to tap into in times of emergency, they tend to cash in their retirement savings. We believe, it’s for this reason National Treasury has introduced Tax Free Savings Accounts from 1st March 2015 to build household savings and encouraging investment. South African Savings Institute (SASI) welcomes this strategy and is encouraged to pursue the mandate even more aggressively.
Hence the focus of July National Savings Month 2017 is Savings Literacy. With the theme: “Alternative Savings Models”. In response to the Ministers Economic narrative, SASI Acting CEO, Gerald Mwandiambira CFP, has penned an academic paper with ideas and thoughts on a blueprint to encourage Individual Saving in South Africa. This paper to be released in June 2017 will be a subject of much debate and coverage in July 2017. The Minister’s keynote address will be in response to these new savings ideas and vision to improve individual savings in South Africa.
SASI will launch the traditional July National Savings Month Campaign on Friday 30 June 2017. Savings month is SASI’s national savings awareness campaign. It is our flagship vehicle for this cause. Savings month reminds, media and consumers to either strive for financial freedom or remain continuously vulnerable. Cultivating a culture of savings and new savings ideas in all spheres of life is our focus for 2017, SASI believes in sustainable living in all areas of life. The focus for the year is not saving only money. We support all attempts to use the resources responsibly.
SASI will be partnering with organisations in the entire economy including Asset Management, Banks, Insurance Companies, Healthcare, FMCG, Automotive, Entertainment, Retail, Energy, Water, Communications and Beauty and Personal care to ensure that that a savings culture is at the fore. All saving behavior can be quantified in monetary value and SASI will attempt to demonstrate that saving is indeed a lifestyle choice.
SASI will be launching SASI July Savings Month™ in Soweto.
The launch will be preceded by our tradition breakfast launch. We intend to go to the community as responsible South African corporate citizens to demonstrate our commitment to economic sustainability and financial well-being of the South African consumer. Therefore, SASI will provide consumers with a platform from where they can receive first-hand experience of active participation in the savings and investments arena, from which many are excluded.
Furthermore, SASI is planning a number of initiatives during the Savings Month 2017 to instilling a culture of savings in all sphere of life, as shown in table 1. We believe the activities of the July; will be the continuity of the savings message across the country. This also is aimed at providing the necessary information to assist consumers make informed decisions for their financial wellbeing. Planned activities are as follows:
Events planned for the Savings Month Awareness Campaign include:
|SASI Savings Convention™ Launch Breakfast||30 June 2015||Maponya Mall, Soweto||VIP Guests|
|Media Campaign||1 July – 5 August||National Radio & TV||Public|
|Communities Campaign||6 July – 30 September||National||Selected Communities|
|Varsity/TVET Campaign||6 July – 30 September||National||Selected Campuses|