We spend most of our waking lives at work, making the workplace the most powerful platform for fostering financial wellness. Without the employers’ facilitation or participation, our savings levels in South Africa would be far lower. So how can we make the most of this to improve employee outcomes on a large scale?

In an episode of the Big Business Insights podcast, our host Blessing Utete, Commercial Executive Head at Old Mutual Corporate, highlights the power of collaboration. He is joined by Geraldine Fowler, president of the Institute of Retirement Funds Africa and Managing Director of GQM Fund Administrators, and Nyasha Dhlembeu, financial management lecturer and PhD candidate at the University of Pretoria, who researches the influence of financial literacy on retirement planning in South Africa.

Together, they unpack the moral and practical obligations of employers. Is it enough to simply offer a fund, or must companies actively nurture the financial wellness of employees, with education and advice?

The conversation delves into the impact of financial literacy, revealing why women and young people are often the most vulnerable. The discussion also explores what South Africa can learn from emerging economies like Kenya and Chile regarding auto-enrolment and innovative solutions for the informal sector.

Tune in to understand how we can collectively shift South Africa’s savings culture if we work together.