The importance of financial literacy cannot be overstated in today's world. As such, the Group Chief Financial Officer of the City of Ekurhuleni, Mr Kagiso Lerutla CA(SA), has highlighted the need for financial literacy to be taught in primary education.

Speaking at a Finance Open Day, Mr Lerutla expressed concerns over the lack of financial literacy among many young South Africans, which has led to financial problems such as debt and poor financial decisions. He emphasized that teaching financial literacy in primary education would equip children with the necessary skills and knowledge to make sound financial decisions in the future.

"Financial literacy is crucial in today's world, yet many South Africans lack the necessary knowledge and skills to make sound financial decisions. It is, therefore, important that we teach financial literacy in primary education. This will equip children with the necessary skills and knowledge to make sound financial decisions in the future," Mr Lerutla said.

Mr Lerutla further stated that financial literacy would also help children understand the importance of saving and investing, which would benefit them in the long run. He emphasized that financial literacy would not only benefit individuals but also contribute to the country's economic growth.

Financial literacy will not only benefit individuals but also contribute to the country's economic growth. It is imperative that the government and educational institutions prioritize financial literacy in primary education to ensure that future generations are financially literate and responsible.