Citizen Leader Lab, a non-profit leadership development organisation, has collaborated with leading professional services firm, Deloitte Africa, to introduce an exclusive Financial Management Series designed for school principals and bursars. The virtual series aims to equip school principals and bursars with essential and critical skills and the knowledge necessary for effective financial management in public schools. The launch session is scheduled for 19 March 2024 from 15h00 to 17h00 and there is no cost for school principals and bursars to attend. School principals juggle multiple responsibilities, with financial management being paramount among them. This is underscored by exploring financial management capacity in schools in Lebowakgomo, Limpopo, which revealed a concerning lack of financial literacy among school principals.

Acknowledging the significance of effective financial management, Deloitte Africa has developed a comprehensive guide to navigate the intricacies of school finance. Through interactive discussions and practical insights, participants will gain the expertise needed to safeguard their schools from potential financial pitfalls. “Deloitte’s initiative to train public school principals in financial management in South Africa stems from a recognition of the critical role that effective financial management plays in the success of educational institutions. By providing this training, Deloitte aims to address systemic challenges within the education sector, particularly concerning the efficient allocation and utilisation of resources,” says Ashleigh Theophanides, Chief Sustainability Officer at Deloitte Africa.

Komala Pillay

Ashleigh notes, “Improved financial literacy among school principals can lead to better budgeting, resource allocation, and decision-making, ultimately enhancing the quality of education and outcomes for students. Moreover, empowering school leaders with financial management skills contributes to greater transparency, accountability, and sustainability within the education system, aligning with Deloitte’s broader commitment to social impact.” ‘’As custodians of quality education in our schools, school principals require a deep understanding of their institutions, including its financial operations. By enhancing their financial literacy, school principals can proactively steer their schools towards sustainable growth and academic prosperity,’’ says Komala Pillay, Chief Executive Officer at Citizen Leader Lab.

Pillay adds: ‘’This exclusive series powered by Deloitte Africa is our commitment to encouraging fiscal responsibility among school principals. We extend a warm invitation to all of our Citizen Leader Lab alumni to join us on this journey towards financial empowerment.’’