Mr Price Foundation and Zapper join forces to tackle youth unemployment
In a bold new partnership, Mr Price Foundation and Zapper have teamed up to address South Africa’s youth unemployment crisis. By leveraging Zapper’s digital payment technology, the collaboration aims to raise awareness and drive donations for the Hope4Youth campaign.
As a registered non-profit founded by Mr Price Group 20 years ago, Mr Price Foundation has been at the forefront of youth empowerment. Donations made via Zapper will directly support the Foundation’s mission to equip young South Africans (aged 15-34) with sustainable economic opportunities.
With a simple QR code scan, Zapper removes barriers to giving, allowing individuals and businesses to support transformative youth empowerment initiatives effortlessly.
South Africa’s youth unemployment rate stands at a staggering 45.5%, driven by challenges such as limited access to quality education, skills mismatches, and economic stagnation. Expanding programmes like Hope4Youth is crucial in tackling this crisis.
“Through our partnership with Zapper, we have the chance to accelerate our programmes and rapidly extend our reach to more young people,” said Mr Price Foundation executive director Octavius Phukubye.
“If every Zapper user and merchant contributes a small donation, we can drive a monumental shift for youth economic inclusion and economic growth aspirations,” Phukubye added.
Investec opens Clarity Trading Platform to all South Africans
Investec has officially opened Clarity, its high-tech, self-managed trading platform, to the general public, expanding investment opportunities for South Africans.
The group says designed for tech-savvy investors, Clarity offers seamless access to local and global markets, allowing users to trade over 750 instruments on a leveraged or non-leveraged basis via CFD (contract for difference) instruments.
“The platform gained significant traction after launching to Investec Private Banking clients, attracting a diverse age range from 20-somethings to clients in their 70s,” says Tinus Rautenbach, business head of Clarity. “We have since implemented enhancements - prioritising quality and service excellence - and are excited to open the platform to the South African investing community.”
A key feature driving adoption is the instant conversion of South African rands (ZAR) to foreign currency, enabling quick forex trades in just 25 seconds. There are no minimum investment requirements, with some portfolios exceeding R1 million, the group says.
Clarity caters to the growing DIY investing trend with an intuitive app and website, live chat support, and real-time market data.
“Offering a digitally led platform for DIY investing with no brokerage fees appeals to a larger customer base, serving as a potential gateway into the Investec ecosystem,” Rautenbach adds.
According to Investec, the platform continues to evolve, recently adding tech and pharmaceutical stocks, cryptocurrency exposure via the iShares Bitcoin Trust (Bitcoin ETF), and 24/5 forex trading. Further enhancements, including an integrated trade, invest, and save solution, are in development.
Investors can sign up at nowclarity.com and download the Clarity app on Apple and Android.
Understanding the Two-Pot System: insights from Alexforbes' recent survey
54% of respondents accessed their savings pot, while 46% did not, indicating informed decision-making, according to Alexforbe's recent survey.
The group says this suggests growing trust in the two-pot system as a tool to balance retirement savings with immediate financial needs.
Insights are based on a comprehensive survey of over 8,200 responses and data analysis covering over one million members, the group says.
"86% of claimants were satisfied with their decision, indicating that the system is meeting the expectations of most members. Survey feedback suggests a generally positive experience with the claiming process," it says.
According to Alexforbes, 96% of respondents understood the long-term impact of withdrawals and tax implications. Engagement before implementation contributed to building trust between members and their retirement funds.
"47% of members plan to claim in the future, with 34% of previous claimants intending to claim again. Among those who did not make an initial claim, 33% do not plan to claim, while 13% are considering it," it says.
The survey revealed that 80% of claimants used their withdrawals for debt repayment and essential living expenses. Of these, 50% repaid debt, while 30% covered essential costs.
"Other uses included major purchases (13%), financial investments, home improvements, medical bills, education, and vehicle maintenance (7%)," the survey found.
Alexforbes says these findings indicate that members are prioritising financial stability when accessing their savings.
PERSONAL FINANCE