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XHUMA - South Africa

civic & social organization

XHUMA - South Africa Details

XHUMA is a social project aimed at improving the lives of underprivileged children in Cape Town/South Africa by teaching them financial literacy.As such, XHUMA is set up and executed by Strategy and Internation...
XHUMA is a social project aimed at improving the lives of underprivileged children in Cape Town/South Africa by teaching them financial literacy.As such, XHUMA is set up and executed by Strategy and International Management (SIM) Master students from the University of St. Gallen as part of the SIMagination Challenge course and has been running since 2012. This year, we – an international group of 10 young people – got together and made a plan on how to improve these children's lives.XHUMA focuses on South Africa because of the potential for a positive change within its society and our ability as Master level students in a management course to contribute to that change.South Africa is regarded as Africa's most developed economy, as a BRICS nation, and also as one of the rising nations in our global economy. However, besides South Africa still being plagued by its past of colonialism and Apartheid with 10% of its population owning more than 85% of household wealth, the country‘s inequality issues were further exposed by the ongoing COVID-19 pandemic. A major driver of these unfortunate circumstances is the high youth unemployment rate which is currently exceeding 50%. A key issue in this self-reinforcing vicious poverty cycle is financial literacy. We, as students in the SIM program, with diverse backgrounds and a common passion to change the world for the better, have the will to meaningfully contribute to the effort of tackling this issue.
Location
St. Gallen, St. Gallen

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