Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
07 May 2018 Photo Valentino Ndaba
Study shows students shop more and save less Dr Koloba
Dr Habofanwe Koloba, senior lecturer at the University of the Free State’s Department of Business proposes financial literacy as the solution to student debt and lack of saving predicament.

Did you know that failing to service store or credit card debt may jeopardise the growth of South Africa’s economy? Outstanding payments might seem inconsequential but they may adversely affect the country’s credit rating. Dr Habofanwe Koloba, senior lecturer at the University of the Free State’s Department of Business Management recently published an article titled: “Access to credit and saving behaviour of generation Y students: Are we educating an over-indebted generation,” in the Journal of Economics and Finance Studies which speaks of this phenomenon. 

From analysing the financial behaviour of a group of 145 millennials and literature, Dr Koloba hypothesised that easy access to store and credit cards by Generation Y students had influenced their poor saving habits. “There is a statistically significant relationship between store or credit card usage and lack of savings among Generation Y students,” he writes.

Salvaging the situation
Dr Koloba advocates for the integration of financial literacy within the curriculum in addition to parents playing an active role in instilling financial intelligence in their children from a young age. He also asserts that financial institutions need to offer products that encourage saving among students rather than luring them to indebtedness.

The benefits of saving 
Savings are channelled into dividend-producing investments which fuel the eradication of poverty, inequality and unemployment as well as provide capital for infrastructure development. Needless to say, a consumerist society with a poor saving culture does not promise to attain these successes.

News Archive

Student organisation tackles difficult questions in debate
2012-05-12

 

At the debate were, from the left: Danie Jacobs, Head of the Centre for Business Dynamics, Mhlanganisi Madlongolwana, Nombuso Ndlovu and Prof. JP Landman.
Photo: Leatitia Pienaar

 

“South Africa is consumed by a monster, namely the lack of critical thinking and dialogue with regard to our problems. Now is the time to make radical changes.” This is according to Nombuso Ndlovu, who spoke at the first debate in a series of Commercio and the UFS Business School.

“Young people are more interested in social gatherings than applying their minds to the problems of South Africa,” she said. Nombuso is the CEO of Commercio.

Commercio is the student organisation in the Faculty of Economic and Management Sciences. Two teams, one positive and one negative, debated the topic: Is South Africa’s current economic direction viable?

What emerged from the debate was that our students are well-aware of what is going on in our economy and that people cannot just sit back and expect government to deliver. Every individual has a responsibility. South Africa has a “democratic deficit” society, a “corruption-stricken economy” and “economic activism” is necessary to get the economy on the right path.

Prof. JP Landman, Visiting Professor at the Business School, economic advisor, analyst, columnist and also managing director of the Aardklop Arts Festival, was the expert panel member. He said the critical issue in South Africa is “how do you distribute wealth while keeping things going?”

“It is fantastic that South Africans have developed a collective repulsiveness for corruption.” People must know what underpins society and where aggression comes from.
– Leatitia Pienaar.

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept