In partnership with the School of Savings South Africa, the Foundation is deepening its commitment to financial education by funding the rollout of the initiative to four additional schools in Durban. The project provides learners with practical tools, including workbooks, activity-based guides, and money boxes, to develop healthy saving habits and long-term financial confidence.
Nicole Pinto, CEO of the Prescient Foundation, believes equipping young people with financial knowledge is one of the most effective ways to empower communities. She explains that, “Financial literacy is one of the most powerful tools we can give our youth. With Project One Rand, we’re not only teaching learners to save – we’re equipping them with the habits, confidence and knowledge to make smart financial decisions for the rest of their lives.”
Delivered through the PENNYWI$E Money Management initiative, the programme spans 18 months, focusing on sustained impact and behaviour change. At its core is a simple daily challenge: save just R1 a day. By demonstrating the power of consistent small actions, learners are introduced to the concept of delayed gratification and are encouraged to take ownership of their financial futures.
Each learner receives:
- A money box to physically save their daily R1
- A workbook and activity-based learning guide
- Real-life examples and discussions on saving, budgeting, and spending
- Regular support to reinforce positive financial behaviour
The following schools are currently participating in the 2024 phase:
- Sacred Heart Secondary – 167 learners
- Westham Secondary – 92 learners
- Magqibagqiba Secondary – 117 learners
- Phoenix Tech Secondary – 116 learners
This expansion follows a successful pilot phase run in three Durban schools in 2023 and sets the stage for a planned national rollout.
Pinto adds that “Youth unemployment, high household debt, and a culture of instant gratification continue to limit opportunities for young South Africans. Project One Rand meets learners where they are, giving them the tools to build a better financial future – and to pass those lessons on to their families and communities.”
The programme was developed by Joe Chetty, a Certified Financial Planner® and founder of the School of Savings. Recognising the urgent need for early financial education, Chetty designed Project One Rand to focus on the three core principles of Decision, Direction, and Discipline. These principles guide learners in understanding not only how to save but why it matters.
The programme teaches learners to:
- Develop a consistent savings mindset
- Understand the value of delayed gratification
- Differentiate between good debt and bad debt
Chetty acknowledges the importance of the Prescient Foundation’s backing, noting that, “We are incredibly grateful to the Prescient Foundation for believing in this vision and enabling us to reach more young South Africans. Together, we are planting the seeds of financial confidence and resilience in the next generation – one rand, one lesson, and one learner at a time.”
The Prescient Foundation’s long-standing mission is to enhance lives and uplift communities through education, sustainability, and youth-focused development. Their support of Project One Rand aligns directly with their goal of creating empowered and self-sufficient citizens.
As Pinto puts it, “This is about more than saving a few rands. It’s about empowering the next generation to take control of their financial futures. And as we celebrate 20 years of the Prescient Foundation, we’re proud to invest in the leaders, earners, and changemakers of tomorrow.”
With South Africa’s savings rate under strain and youth financial literacy still low, the expansion of Project One Rand offers a practical and hopeful solution, one that begins with a single rand and grows into a lifetime of financial resilience.
