Example Project: Financial Sense (South Africa 2008)

Vision:

To ensure that every community development initiative is equipped with the financial management skills to successfully execute their goals. 

Mission:

Financial Sense assists the community in achieving efficient financial practices, strengthening the sustainability of development projects.  Financial Sense facilitates the transfer of skills from local business-minded professionals to community-development leaders.  Recognizing that the people are the stakeholders and beneficiaries of their own development initiatives, Financial Sense is committed to the integrity and success of their endeavours. Financial Sense exists to ensure that the lack of financial skills are no longer a hurdle in community development initiatives reaching their potential for the betterment of the people. 

Executive Summary:

Recognizing that South Africa continues to suffer from economic apartheid, our team investigated the issues surrounding poverty.  Through action research in the Grahamstown community, we found that while there are an abundance of community development initiatives, many lack the proper financial management skills to successfully execute their goals.  Financial Sense was formed with the vision to facilitate the transfer of financial knowledge from local business-minded professionals to those involved in community development projects.  While still in the planning stages, Financial Sense has made significant connections with the Department of Social Development, local banks and businesses.  Financial Sense plans to administer skill development through workshops and on-going mentorships.  Together with business professionals, academia, and community leaders, Financial Sense can unleash development potential and address a critical gap in the fight against poverty.