Standard Bank uses community radio for money education

The financial literacy campaign, known as Money Talks, will run from 22 February until November 2010 to help consumers understand the ins and outs of money.

It is part of Standard Bank's initiative to extend banking to under-serviced communities. Key features include delivering affordable and accessible financial services through branchless banking.

Specialist media house Kagiso TV and Communications has brought its experience of working in communities to bear in designing the 16-week campaign. It will be broadcast in eight languages and will open in Tembisa on Voice of Tembisa, in Umlazi on Izwi Lomzansi and in Bethelsdorp on Bay FM.

From March 15, the programme will be broadcast on Radio Mafisa in Tlhabane and Phokeng in North West province and Link FM in Mdantsane in the Eastern Cape. The final rollout will begin on 19 July when the series commences on Radio Teemaneng in Galeshewe in Northern Cape, Middleburg FM in Mpumalanga and Moletsi Community Radio in Polokwane, Mosupatsela FM in Mangaung, Free State and Zibonele Community Radio in Khayelitsha, Western Cape.

Media training

Standard Bank experts, who will take part in the broadcasts, recently attended a media training workshop run by Kagiso. The participants included branch managers as well as community bankers based across the country to help local consumers come to grips with financial literacy.

All were taken through the ins and outs of the programme and had a chance to do a recorded radio interview in the agency's in-house studio. These interviews were then played back to them to help them see where they could further improve.

Timely campaign

The campaign comes at a good time as the recession has made consumers increasingly concerned about managing their money. "The most powerful capital of all is knowledge because it allows people to make sound financial decisions. Consumer education should not be seen as a grudge offering, but as an integral part of the bank's service," said Coenraad Jonker, director of community banking at Standard Bank. However, this could only be done effectively "with the right communications partner, such as Kagiso."