South Africa

In 2008, the Financial Services Board of South Africa (FSBSA) commissioned research on the development of a framework to monitor and facilitate the effective delivery of financial literacy programmes in South Africa. The report, published in February 2009, highlights the complex nature of monitoring and evaluating financial education programmes. The research further underscores the need to understand and assess financial behaviour within the context of local constraints, not least of which is the availability of suitable financial products and services.

From the research, the FSBSA developed the “Guidelines for monitoring and evaluating consumer financial education programmes”. The purpose of this document is to provide organisations that offer financial education programmes with a set of guidelines or a “toolkit” for monitoring and evaluating these programmes. It is compulsory for all programmes and projects of the FSBSA relating to financial education to have a monitoring and evaluation strategy. In 2011, the FSBSA conducted a national baseline study to determine financial literacy levels in South Africa. Currently, the FSBSA is developing monitoring and evaluation process in line with the baseline study. These processes will apply to all programmes, including those targeted at schools and teachers.

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