South Africa

OECD-FSB Conference on Financial Literacy: Financial Education for All


27-28 October 2011
Cape Town, South Africa


Organised by the OECD and the Financial Services Board of South Africa, this Conference on Financial Education for All brought together experts from around the world to share their experiences of designing and establishing effective financial education initiatives to support and protect consumers.

Discussions focused on:

  • Strategies to support consumers in assessing their savings needs for retirement
  • Combining financial education with financial consumer protection and financial inclusion strategies
  • Comparing financial competencies internationally using the Financial Literacy Measurement Survey conducted by the OECD and its International Network on Financial Education
  • The specific financial education needs of women and the extent to which these vary across countries
  • Putting policies into practice - effectively reaching young people and adults

The conference was held back-to-back with 2011 OECD-IOPS Global Forum on How to Build Adequate, Long-Term Pension Savings (25-26 October) and the World Bank and Financial Education Fund Workshop on Impact Evaluation Methods for Financial Capability Enhancement Programs (31 October-1 November).


Information regarding the 8th meeting of the International Network on Financial Education (INFE) and its Subgroups, held on 25-26 October 2011, is available on the INFE site for members.


Conference documents

Summary Record

Conference Programme

Information NoteInformation Note

Speakers' Biographies


Speaker presentations


DAY 1 – Thursday 27 Oct 2011


• Opening remarks and keynote address by Mr. Nhlanhla Nene, Deputy Minister of Finance, South Africa

• Opening remarks by Mr. Rintaro Tamaki, Deputy Secretary-General, OECD


Session 1 - Effective Communication on Pensions

Moderator: Mr. Ross Jones, President of International Organisation of Pension Supervisors (IOPS), Vice-Chair of Australian Prudential Regulation Authority (APRA)


• Ms. Fiona Stewart, Principal Administrator, Pension, OECD

• Ms. Vanessa Rubio, Head of Information and Promotion Unit, National Commission for the Pension System (CONSAR), Mexico

• Mr. Jurgen Boyd, Deputy Executive Officer, Retirement Funds, Financial Services Board, South Africa

• Mr. Darren Mc Shane, Executive Director, Mandatory Provident Fund Schemes Authority, Hong Kong

Discussant: Mr. Antoni Ballabriga Torreguitart, Director of Corporate Responsibility, BBVA, Spain


Session 2 - Financial Consumers Empowerment: Combining financial education and consumer protection approaches

Moderator: Mr. André Laboul, Head of the Financial Affairs Division, Chair of the International Network on Financial Education, OECD


• Mr. Ashley Searle, Consumer Protector/Director, Office of Consumer Protection, Western Cape Department of Economic Development
• Ms. Ursula Menke, Commissioner, Financial Consumer Agency of Canada
• Mr. Saran Prashant, Whole time member, Securities and Exchange Board of India (SEBI)


Session 3 - Roundtable on Financial Education in Africa

Moderator: Ms. Ingrid Goodspeed, Chief Director, Financial Inclusion and Market Conduct, National Treasury, South Africa

• Ms. Chiara Monticone, Policy Analyst, OECD: General Overview of Financial Education in Africa

• Mr. Japheth Katto, Chief Executive Officer, Capital Markets Authority, Uganda
• Ms. Olivia Davids, Head of Consumer Education Department, Financial Services Board
• Mr. Chisha Mwanakatwe, Director of Non Bank Financial Institutions Supervision, Bank of Zambia
• Dr. Bola Fajemirokun, Executive Director, Development Initiatives Network of Nigeria


DAY 2 – Friday 28 Oct 2011

Levels of financial literacy worldwide: where do we stand? Results of the OECD/INFE International Pilot Survey
• Ms. Adele Atkinson, Policy Analyst, OECD


WORKSHOPS - From Policies to Practices: Delivery channels, Effective Outreach and Evaluation

WORKSHOP 1 - Reaching out to young people: Financial Education in Schools - Challenges, operational solutions and impact evaluation
 Ms. Flore-Anne Messy, Principal Administrator, OECD

• Mr. Lyndwill Clarke, Manager of Formal Education, Consumer Education Department, Financial Services Board, South Africa
• Mr. Vasco Cavalcanti, Head of Department, Securities and Exchange Commission of Brazil (CVM)
• Mr. G. P. Garg, Chief General Manager, Securities and Exchange Board of India (SEBI)


WORKSHOP 2 - Reaching out to adults: Borrowing and Savings programmes - Experiences and their evaluation
 Ms. Adele Atkinson, Policy Analyst, OECD
• Ms. Nomsa Motshegare, Acting Chief Executive Officer, National Credit Regulator, South Africa


Session 4 - Financial inclusion: Using financial education to reach out to underserved groups and the informal sector
Mr. Ismail Momoniat, Deputy Director General, Financial Inclusion and Market Conduct, National Treasury, South Africa
• Mr. Pungky P. Wibowo  on behalf of Mr. Muliaman Hadad, Deputy Governor, Bank Indonesia
• Dr. K C Chakrabarty, Deputy Governor, Reserve Bank of India
• Mr. Thami Bolani, Chair, National Consumer Forum, South Africa
• Dr. Penny Hawkins, Theme Coordinator, Policy and Regulation, Finmark Trust, South Africa


• Closing remarks by Mr. Gerry Anderson, Deputy Executive Officer of Market Conduct and Consumer Education, Financial Services Board, South Africa



If you have any questions, please contact:


Ms. Marta Trzcinska, Assistant,, tel: +33 (0)1 45 24 85 55
Mr. Andrea Grifoni, Policy Analyst,, tel: +33 (0)1 45 24 83 53


Financial Services Board of South Africa

Ms. Olivia Davids, Head: Consumer Education Department,, tel. +2712 428 81 23


See also

The OECD International Gateway for Financial Education:

Tourism in Cape Town


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