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:


CapeTalk 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 CapeTalk community a safe and welcoming space for all.

CapeTalk 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.

CapeTalk 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
Predictably awesome new Nando's ad reminds South Africans ‘we can fix our sh$t’

Predictably awesome new Nando's ad reminds South Africans ‘we can fix our sh$t’

Watch the Guptas pack their bags and run in Nando's inspiring new advertisement.

PSG Chair Jannie Mouton opens up (kind of) about Steinhoff

PSG Chair Jannie Mouton opens up (kind of) about Steinhoff

In 2012 Steinhoff acquired 20% of wealth manager PSG, reportedly infuriating Mouton. Bruce Whitfield interviews him.

[LISTEN] Sara-Jayne King overjoyed at finding her biological father

[LISTEN] Sara-Jayne King overjoyed at finding her biological father

After a 702/ CapeTalk interview, the author of the autobiographical book Killing Karoline spoke to her dad for the first time.

[LISTEN] Caller challenges Eusebius on land disposition

[LISTEN] Caller challenges Eusebius on land disposition

‘I need you to provide me with an answer' - John from Edenvale, Gauteng

Number of South Africans visiting the seaside has dropped

Number of South Africans visiting the seaside has dropped

Fedhasa's CEO is encouraging South Africans to take a look at the specials that are currently out there and make their bookings.

How businessman Max Lichaba struck gold with his jewellery company

How businessman Max Lichaba struck gold with his jewellery company

Entrepreneur Max Lichaba built his own empire and is the CEO of Lichaba Creations and several other businesses. This is his story.