Basic maths enough for South Africans to count their change, says finance guru

Financial services expert Craig Kiggen has warned against the dangers of conflating maths skills and financial literacy.

This comes amid debate over the The Department of Education's proposal to remove mathematics as a compulsory promotion requirement of high school students.

Read: Education Department considers dropping Maths as a compulsory subject

According to Kiggen, basic mathematics is enough to enable South Africans to count up their money and complete basic transactions.

There's no doubt the minute you take away someone's that it's going top have an impact on their understanding of complex financial transactions.

Craig Kiggen, Regional Head of Citadel Wealth Management

But a basic level of mathematics will allow most of our population to be able to understand how a till slip works.

Craig Kiggen, Regional Head of Citadel Wealth Management

However, he explains that the proposed changes will have a threatening impact on the understanding of complex financial transactions such as compound interest.

Also read: Removing maths as a compulsory subject is a huge risk - Mathematician

Kiggen says that access to technology and information online may also compensate for the changes in the basic education curriculum.

He explains that some people who lack complex mathematical literacy are vulnerable to exploitation.

Take a listen to his views:


This article first appeared on CapeTalk : Basic maths enough for South Africans to count their change, says finance guru


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Removing maths as a compulsory subject is a huge risk - Mathematician

Removing maths as a compulsory subject is a huge risk - Mathematician

These proposals are to align pass requirements with that of grades 10 to 12.

Education Department considers dropping Maths as a compulsory subject

Education Department considers dropping Maths as a compulsory subject

The proposal still needs to be tabled for public comment before it is passed.

EduTree helps matric students improve their Maths results

EduTree helps matric students improve their Maths results

The App offers learners a chance to practice maths in a more simplified and easy to understand way.

South Africans lack interest in starting own businesses - research

South Africans lack interest in starting own businesses - research

Poor maths and science skills are the root cause of low entrepreneurship numbers says Gibs' Fazlyn Toeffe.

'Remodelled ANAs will need buy-in from teacher unions and schools'

'Remodelled ANAs will need buy-in from teacher unions and schools'

The highly contested ANAs will be replaced with a new assessment model, the Department of Basic Education has announced.

Physics pro Wandile Mabanga puts Africa on the map with interactive puzzle

Physics pro Wandile Mabanga puts Africa on the map with interactive puzzle

Maths genius and entrepreneur Wandile Mabanga is helping people play and learn with his unique, interactive Map Blitz board game.

DBE employs unqualified maths teachers - Equal Education

DBE employs unqualified maths teachers - Equal Education

Equal Education says the Department of Basic Education fails to deal with problems existing in both foundation and senior phases.

Maths not offered at some schools

Maths not offered at some schools

Stephen spoke to Basic Education Spokesperson, Elijah Mhlanga about the finding that some schools don’t offer Maths to learners

Popular articles
[WATCH] Teen shoved off bridge by pal into river

[WATCH] Teen shoved off bridge by pal into river

A Washington teenager was badly hurt when her friend pushed her off the bridge after she said she didn't want to jump.

I've always known what space I wanted to be in - Trevor Stuurman, visual artist

I've always known what space I wanted to be in - Trevor Stuurman, visual artist

#NightTalk host Gugu Mhlungu chats to entrepreneur & multimedia visual artist Trevor Stuurman about his accolades and inspiration

Africa State of Mind: ''They call me the real Makoya' - Femi Koya, musician

Africa State of Mind: ''They call me the real Makoya' - Femi Koya, musician

In this episode of Africa State of Mind, musician Femi Koya chats to Lee Kasumba about leaving Nigeria to come to South Africa.

I've always said that stories are the mothers of all disciplines - Gcina Mhlophe

I've always said that stories are the mothers of all disciplines - Gcina Mhlophe

Phemelo Motene chats to the mother of storytelling & a poet to the masses, Gcina Mhlophe about what it means to share your stories

This is how the Pebbles Project is protecting kids that live in the Winelands!

This is how the Pebbles Project is protecting kids that live in the Winelands!

Fundraising and Outreach Manager at the Pebbles Project, Charmaine Gola, chats about the work they do & their focus on the youth

The nutritional, environmental & socio-cultural benefits of indigenous foods

The nutritional, environmental & socio-cultural benefits of indigenous foods

'You need to look outside your traditional shopping centers to actually eat traditional food in the city' - Mpho Tshukudu, author

ProKid described as a true family man who loved his mom

ProKid described as a true family man who loved his mom

His brother Sandile Mkhize says he promised ProKid that he will continue where he left off.

'The Suzuki Dzire is the perfect day-to-day runaround car' - Jacob Moshokoa

'The Suzuki Dzire is the perfect day-to-day runaround car' - Jacob Moshokoa

In the car feature, automotive journalist Jacob Moshokoa chats about his experience driving around with the Suzuki Dzire.

[LISTEN] Codeine addiction and abuse

[LISTEN] Codeine addiction and abuse

Member of the SASOP, Dr Eugene Allers chats about the causes behind addiction to over the counter medication.

Phemelo responds after listener congratulates her for speaking wonderful English

Phemelo responds after listener congratulates her for speaking wonderful English

'To congratulate me, and to make it seem like this is an accolade is extremely offensive because of our history' - Phemelo Motene