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Capitec launches free online financial education platform

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 17 Sept 2020

Capitec Bank has established an online financial education platform offering financial literacy on savings, spending and debt management.

The bank says the Live Better Academy offers practical tips and strategies to help people make smart financial decisions and achieve their goals.

Capitec says the course series can be done on a smartphone, tablet or PC, and requires less than 200MB to complete.

Each course is broken into 16 to 20 modules that take between five to 10 minutes to finish. Furthermore, Capitec says to keep the learning entertaining, the platform is gamified.

“Users earn points and badges as they engage, complete courses and answer questions. A leader board ranks users according to their total points and users are encouraged to build their knowledge scores, thereby mastering content,” says the bank.

The launch of the school comes on the back of the growing economic crisis in the country due to COVID-19, which has seen many lose their jobs. With these circumstances, experts warn managing debt is going to be difficult for many people.

Jean Rossouw, head of financial education at Capitec, explains the rationale of launching the academy: “We want to empower people to learn helpful money strategies and key financial principles in a simple and engaging way.

“The series has been designed for every level of financial knowledge. Users will walk away with practical information and tools that can help them achieve financial goals by learning to budget, repay debt faster, mitigate unnecessary risk, save for the future, and reduce unnecessary spending. All for free.”

Capitec says each month until December, five learners who complete a course will win a R1 000 cash prize. In addition, one person who completes all four courses will win the monthly R10 000 grand prize.

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