Qaphela Project Logo
 

Project Qaphela is a financial literacy programme targeted at the National Union of Mineworkers (NUM) members across the three sectors that the NUM are represented in, being mining, energy and construction. Qaphela is an Nguni word meaning ‘to be alert / aware / smarter’.

The project has been made possible through a partnership between the National Union of Mineworkers (NUM), Sanlam and the ASISA Foundation. The Sanlam Foundation is the financier of the programme and this funding has been directed to the project via the ASISA Foundation, who will fulfil the role of project management. The project has been run as a pilot in 2015, to glean learnings which will be incorporated into the roll-out for 2016.

 
Saver Waya-Waya Logo
Saver Waya-Waya Logo
 

The content includes basic financial literacy and content specifically focussed at workers. The messages are conveyed to participants in interactive face-to-face workshops which are complimented by edutainment and opt-in SMSs incorporating financial tips aligned to the content.

The content themes are:

  • Planning with Money
  • Budgeting and Saving
  • Borrowing and indebtedness
  • Understanding Payslips
  • Understanding Benefit Statements
  • Preparing for Retirement

Monitoring and Evaluation (M&E) +

The M&E of the pilot of Project Qaphela involved various data collection methods including:

  • Site visits and informal interviews
  • Pre- and post-surveys with participants
  • Group interviews with trainers and key informant interviews
  • Follow-up telephonic interviews four, twelve and twenty-four weeks post the workshops

The key successes of the pilot programme indicated:

  • There has been an improvement in knowledge transfer for beneficiaries.
  • Most participants indicated that they had learned how to manage their finances or how to budget.
  • Some respondents also indicated that they had paid off their debt entirely since completing the programme.
  • About a third of respondents reported that they had undertaken a follow-up activity to continue to improve their financial management in the weeks following their completion of the programme. These activities included:
    • Contacting their HR departments to query their payslips and/ or pension benefit statements
    • That they contacted a debt counsellor
    • That they contacted a financial advisor

Building on the learnings of Project Qaphela and the M&E report’s recommendations, the Foundation plans to extend financial literacy workshops with enhanced content and delivery mechanisms to additional worksites in the new Saver Waya-Waya WageWise programme in 2017.