Marius & Kgapane on Stage

Luno, the Cryptocurrency exchange, in partnership with Youth Money Circle (YMC), have educated young South Africans about Cryptocurrencies. The event which was dubbed Financial Bootcamp 2020 took place on Saturday in Johannesburg. 

Marius Reitz, General Manager for Africa at Luno who presented a session on Cryptocurrency 101 – The Future of Money in 2020 and Beyond walked participants through how Cryptocurrency works. He outlined the investment opportunities and how the participants could take advantage of them.

In attendance were almost 100 young people from high schools, colleges, recent graduates and young entrepreneurs. Even though YMC has organised various financial literacy events for the youth, it was the first time they covered Cryptocurrency and its investment opportunities.

Popular Request 

In an exclusive interview with QBITtimes, Tshepo Kgapane, founder & MD of YMC intimated that, for the last two years, they had been inundated with requests from the youth to organise a session around cryptocurrencies, due to the popularity of Bitcoin in South Africa. 

“It made sense for YMC to partner with one of the Global leaders in the Cryptocurrency space; Luno, to host a session around the digital currency,” Kgapane noted. “There is also synergy between the two organisations as both priorities education. Luno through it’s learning portal and YMC through its free financial literacy events.”

Rameez Dockrat of Luno on his part expressed the same sentiment of Luno having some goals in common with YMC. He pointed out how the educational programmes Luno generates target young peoples’ understanding of financial freedom.

Crypto As Economic Empowerment

Cryptocurrency’s inherent potential to eliminate poverty has been touted as an immense opportunity for young Africans to escape poverty in the 21st century. It is, consequently, a sector of Financial Literacy that must be pushed at all levels of education. 

When QT inquired from Kgapane if he sees Cryptocurrency education as a form of economic empowerment for young South Africans, he had this to say:

“Yes, there are so many direct and indirect benefits of cryptocurrencies for Young people in South Africa. It is a seamless way to transact without the high fees and time delays that traditional banks are associated with. Cryptocurrencies can also serve as an investment for young people and a source of employment as it’s adoption surges in South Africa (Programmers, IT specialists, marketers, etc.). This is particularly important as Youth unemployment is very high in South Africa.” 

Furthermore, Dockrat hinted that Luno would have more educational initiatives with YMC to expand the frontiers of Cryptocurrency education in South Africa. “Luno and YMC would love to continue working together, to provide education on the future of money. Follow Youth Money Circle and Luno on Twitter to find out about future events and partnerships,” Dockrat said. 

Kgapane, popularly known as Large_TheDJ was optimistic the relationship YMC has begun with Luno would continue unabated in different ways. Some of the activities the pipeline include social media campaigns, vlog and events. 

About Youth Money Circle

The Youth Money Circle initiative was started in 2015 as a movement to get young South Africans to start thinking differently about money. It’s a free financial literacy event that is fun, informative and unconventional—making use of popcorn, slush, a DJ and amazing speakers to get young people to engage on the topic of money.