Frequently Asked Questions

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Frequently Asked Questions2018-10-26T11:34:09+02:00


What is Teach Children to Save SA (TCTS SA)?2018-10-26T09:25:33+02:00

Teach Children to Save South Africa (TCTS SA™) is a financial literacy and savings initiative designed to highlight the importance of inculcating a culture of saving in our youth and to promote volunteerism in the banking and financial sector. The custodians of TCTS SA™ are The Banking Association South Africa and the South African Savings Institute. Teach Children to Save was founded by the Washington DC based American Bankers Association Education Foundation (ABAEF) in 1997. It was localised, customised and successfully piloted by The Banking Association South Africa and the South African Savings Institute in 2008 in conjunction with ABAEF, Operation HOPE and Citi.

Basic tenets of TCTS SA™:
• Spirit of Ubuntu and Volunteerism;
• Proudly South African; ethos and
• Nation-building

What are the goals and objectives of TCTS SA?2018-10-26T09:26:03+02:00

The overall goal of TCTS SA™ is to teach children to save. TCTS SA™ objectives are to foster a culture of savings, promote volunteerism, create awareness about the value of money and the importance of savings, promote financial literacy and assist learners to appreciate the power of choice.

What are the key concepts covered by the TCTS SA lesson plan?2018-10-26T09:28:35+02:00

During the campaign, children will participate in lessons and activities designed to create an understanding of budgets and savings plans, differentiate between needs and wants, track their daily expenses and learn how to make saving an integral part of their lives.
Key concepts of TCTS SA™ lesson plan are:
• Reasons to save
• Budgeting
• Understanding the difference between a need and a want
• Where to save

What is the South African Savings Institute (SASI)?2018-10-26T09:29:15+02:00

The South African Savings Institute (SASI) is an independent non-profit organisation dedicated to developing a robust culture of saving in South Africa. The organisation was formed in 2001. SASI is a founding partner and joint custodian of TCTS SA™.

What are the concepts covered by the Islamic lesson and how are they different?2018-10-26T09:36:10+02:00

The saving concepts remain the same; the key difference is the understanding of money in Islam such as:
• Money/ Resources is the bounty of Allah
• Money has no intrinsic value, and is merely a means of trade
• Ownership of money ultimately belongs to Allah, its use has been entrusted to us
• Hoarding and wasting of money is prohibited
• It must be lawfully earned and spent
• Paying Zakah ( obligatory if eligible) purifies one’s money and uplifts the community
• Sadaqah and Lillah donations (voluntary giving) safeguards one from calamities and misfortunes
Islamic Finance is based on the elements of Shariah Law.

Previous outreach:2018-10-26T09:36:32+02:00

2008 – 50,857 learners in 228 schools
2009 – 76,909 learners in 421 schools
2010 – 57,158 learners in 270 schools (Major challenge: Public Sector Strike)

How long is each lesson and who delivers it?2018-10-26T09:36:54+02:00

A TCTS SA™ lesson is a one-hour long lesson on saving. Volunteer bankers and financial sector professionals deliver the lesson and the modus-operandi is participative lessons at various schools to inspire learners to be lifelong savers. The volunteers use their own work-based knowledge and skills to enhance the delivery of the savings lesson

Is this the first time this programme is being rolled out in South Africa?2018-10-26T09:37:16+02:00

No, this is the fifth year the programme will be rolled-out at South African schools nationwide and it will be the third year of the roll-out of the Islamic Finance chapter of TCTS SA™. The programme is an annual programme of the banking industry and broader financial literacy under the auspices of Consumer Education and Financial Literacy as a transformational pillar.

When was this initiative launched in South Africa?2018-10-26T09:37:49+02:00

The national pilot programme was launched on 25 July 2008 at Musenga Vhadzimu Primary School in Diepsloot, Johannesburg, Gauteng Province. On this day, volunteer bankers and financial sector professionals went into various schools to teach a one-hour savings lesson.

After the successful launch and national interest generated, this initiative was adopted as an annual programme of the banking industry and the broader financial sector of South Africa. On 22 July 2009, the Minister of Basic Education launched TCTS SA™ 2009 at Tumagole Primary School in Phokeng, Rustenburg, North West Province. The pilot of Islamic Finance Chapter was launched by the DG: Education, KwaZulu-Natal at Orient Islamic School in Durban on the 23rd of July 2009. The MEC Education Limpopo, Mr. Dickson Masemola launched the 2010 post-programme roll-out at Letlotlo Primary School.

Why did you launch the Islamic Finance Chapter?2018-10-26T09:38:13+02:00

It is important that the core objectives and savings messages of the campaign are carried through to all communities in the country with sensitivity to cultural and religious principles. Islamic Banking is growing in South Africa. Islamic product offerings by banks are increasing, although there is only one bank that is purely Islamic in South Africa; however, other banks provide Islamic products through what is termed an “Islamic window”. It is important to note that Islamic banking is not only for Muslims, but is open to all who want to use it. Islamic Finance is based on the elements of Shariah Law.

What is the relevance of the programme?2018-10-26T09:38:38+02:00

The programme aims to foster a culture of saving in learners in Grades 4 to 7. The idea is to target learners in their formative years in order to influence their knowledge, behaviour and attitude in line with the programme motto: “Ligotshwa lise manzi” a Zulu maxim meaning you best shape a stick whilst still moist!

Who are the founding partners of TCTS SA?2018-10-26T09:39:03+02:00

The Banking Association South Africa
• South African Savings Institute (SASI)
• American Bankers Association Education Foundation (ABAEF)
• Operation HOPE
• Citi

What is The Banking Association South Africa, and what is its role?2018-10-26T09:39:22+02:00

The Banking Association South Africa is a not-for-profit industry body representing both local and foreign banks registered and operating in South Africa. Current membership of the Association stands at 34 member banks. The Association is the voice of the South African banking industry and its broad role is to create and maintain the best possible platform on which banks can do progressive, competitive, profitable, responsible and sustainable banking. The Banking Association South Africa is a founding partner and custodian of TCTS SA™ that coordinates and manages the roll-out of the programme across the country and also interfaces with the SADC Banking Association which has endorsed TCTS as its regional financial programme.

Is the lesson plan relevant to the school curriculum?2018-10-26T09:39:44+02:00

The lesson plan is integrated within the school curriculum’s Economic Management Science and Life Orientation subjects, through close collaboration with the Department of Basic Education.

How will you ensure that the message is brought across to all children specifically to those in the lower income brackets?2018-10-26T09:40:03+02:00

A database of all schools in South Africa has been loaded onto the dedicated upon registering online each bank/financial institution selects a school/s to be visited. We encourage participating banks and financial institutions to select schools in their areas of operation, to facilitate accessibility of volunteers. The various volunteer bankers and financial sector professionals visit the schools allocated, which are positioned around the country, from urban to rural, to engage on a face-to-face basis with learners of varying ages and income brackets. TCTS SA™ has a bias towards the rural and impoverished schools, so encourages participating banks and financial institutions to visit these schools that would normally not be reached. Another designated group of schools is “special need” schools; we request that special attention is paid to these schools

Which learners are targeted – income group, area and age?2018-10-26T09:40:24+02:00

The TCTS SA™ programme targets children nationwide in Grades 4 to 7 and these encompass learners from all income brackets in rural, peri-urban and urban areas. This cross-section of demographic profile will ensure the message generates maximum impact. TCTS SA™ 2010 is also piloting with Grade 8 in some Dinaledi schools.

Who can participate?2018-10-26T09:40:44+02:00

Volunteer bankers and financial sector professionals from various banks and financial institutions;
• Schools; and
• Government
Online registration at

Volunteer registration and Toolkit

Volunteer bankers and financial sector professionals offer 67 minutes of their time to deliver a powerful savings lesson, engaging the learners to participate.


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