South Africa’s education system was ranked 133rd out of 142 countries in the world by the World Economic Forum in 2018. What does that mean? South Africa has the most unequal school system in the world. Almost 20 years after the end of apartheid with South Africa, having and one of the highest budget spending on education in the world (20% of GDP), the South African Education system still propagates the inequality of the apartheid era. The quality of education is pivotal for the production of human capital and economic growth and this cannot be compromised by failing to refocus on the quality of education offered in schools.
Youth unemployment in the country stands at an all-time high, particularly between the ages of 18 and 35, it is essential therefore that we better prepare school leavers with the knowledge, skills, attitudes, and action abilities to more meaningfully access and participate in the economy.
Many High School students are faced with various socio-economic issues which incapacitate them to see a bright future. This results in them failing or dropping out at school, due to limited innovative learning through mediums. Socio-economic issues affect the concentration of a student resulting in students not becoming successful through long-term commitment and dedication. Also, writing final Grade 12 exams determines the future of many high school students, therefore reinforcement in learning through various innovative strategies are welcomed within the Further Education Training phase.
With the advent of the 4thIndustrial Revolution, technology transformed the financial industry through automation! With the rapid changes, many analysts predicts greater transformation and possible job losses in future. The World Economic Forum estimates that 65 % of students today will ultimately be working in jobs that don’t currently exist. That is an alarming statistic for any person entering the workforce, but reading between the lines, this is a reminder for employers in all sectors that transferable skills and training are more important than ever, because the jobs are evolving. The new buzz word is called “FINTECH” derived from the word Financial Technology.
QuickBooks is an accounting software package developed and marketed by Intuit. QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
The QuickBooks Certified User certification is an industry-recognized credential that effectively validates one’s skills in QuickBooks accounting software. Becoming an Intuit® QuickBooks Certified User signifies students to have the knowledge and skills to help manage the books effectively in the most prevalent bookkeeping application in small business today. The bookkeeping software has an overall international impact and certification!
Beyond the business world, Quickbooks software can serve as an educational tool to transform the FET Accounting subject, to create future Financial Tech Entrepreneurs, or pursue a career within the Financial Industry.
Genesis CITI, a social educational enterprise, and project owner of Youth Fintech Project partnered with Western Cape Education Department to roll out the first High School Fintech project under the banner of 4IR Skills for Education. During the presentation phase to WCED, we received an Endorsement Letter from WCED, Mr. Don Haripersad, Head of FET Curriculum. With governmental support, Masterkill and Certiport partnered and funded the project. Certiport, A Pearson Vue Business, a leader in providing global vendor certification, ensured that students can learn online and provided exam international vouchers for students and teachers.
The selection of Grade 11 Accounting students are based on the content covered within the CAPS Curriculum and content obtained to date. The Quickbooks training is an international certificate, which will require students to write an international exam once training has been completed. The project will allow students to combine both Accounting and Technology to become more effective and efficient within the classroom. It will also add value to the subject and create future employment opportunities for students and post matric studies. It will also spark & stimulate high school students to see opportunities and careers within Financial Information System Industry.
The global certification awarded has transformed the mindset of the students that participated. Students can find an alternative methodologies using the financial software, when they are challenged with accounting concepts. Also, the global certification serves as an advantage for the student in the job market and future careers in financial technology. The Intuit Quickbooks Certificate can LEAP students into the workplace, based on South Africa’s scarcity skills issue.
On the 5thDecember 2019, a 4IR Skills for Education Graduation were held in Cape Town, the first ever in South Africa, celebrating the success and impact of the Youth Fintech Project obtaining global certification. 20 Students were graduated and 2 teachers.
Llewellyn Scholtz, Executive Director of G-CITI & I-CAN Centre stated that “The future starts in the classroom”, in his graduation speech. He believes that providing high school students with global vendor certification aligned with subject matter offered, will improve results and create a readiness for the workplace. He believes that these certifications can rectify past of education and prepare learners directly for the workforce.
