Mapaballo Borotho
As South Africa celebrates Youth Month, all eyes are on the country’s young people, and the conversations are buzzing.
From how they stretch every rand to survive the high cost of living, to tackling the elephant in the room that is youth unemployment, it seems like young people are juggling more than just TikTok and Instagram.
You’d think the youth, especially the infamous GenZs affectionately known as ama2000s, are out here living in soft life denial, sipping cocktails, maxing out credit cards, and dreaming in aesthetics.
But, according to Standard Bank’s Head of Youth and Mass Segments, Tshiamo Molanda, the picture is far more. The South African youth is financially savvy.
Speaking on Kaya Biz with Gugulethu Mfuphi, Molanda dropped a truth bomb that might leave a few eyebrows raised: young people aged 18 to 35 know what they’re doing with their money.
“Yes, they swipe those credit cards – but here’s the twist: they also know how to pay them off smartly, manage high interest rates, and rack up loyalty rewards like pros. Standard Bank’s data shows that 16% of their credit card base is made up of under-35s.
“They do a lot of frequent buying,” Molanda says, “But they also pay off their cards. That means they’re managing interest rates better and using their loyalty rewards more efficiently.”
Young women are apparently more responsible with their finances. They’re planning, investing in funeral policies, and making sure the whole family is covered. Aunties, uncles, gogo? Sorted.
“Women are prioritising funeral covers,” Molanda said. “They’re thinking about households, extended families, and future responsibilities. That sense of care is very strong.”
As much as young people do love a good Instagrammable brunch or an expensive Dubai trip, they’re also investing in assets.
Molanda says many are buying cars, investing in property, and making real long-term moves.
For the full conversation listen to the podcast below.
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