Heritage Month | Role of tradition in South African financial practices

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A man is seen using a mobile phone.
Siviwe Gwarube 
Inclement weather has led to road closures in some parts of KwaZulu-Natal. 
JOHANNESBURG – Capitec has revealed eye-opening poll results showcasing how South Africans’ cultural backgrounds and family traditions shape their financial beliefs.
This as it celebrates Heritage Month.
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The survey highlights the enduring popularity of traditional savings methods, particularly stokvels, which underscore the deep cultural roots of these communal savings clubs.
However, the findings also indicate the need to improve financial education, enabling individuals to make informed choices and strengthen their financial futures.
The Head of Brand and Communications at Capitec, Asha Patel discussed the results with eNCA.