More than half of coloured children and over 70 percent of black children in South Africa grow up without a regular father figure¹⁻². For many boys, that absence means growing up without a father’s guidance on how to treat others, take responsibility, or manage their lives – including their money. It’s a crisis of mentorship that contributes to cycles of poverty, emotional instability, and in some cases, gender-based violence.
The cost of absence
In addition to the social effects of a lack of mentorship, the economic impact can be just as profound. Informal financial lessons like how to budget, how to prioritise spending, or how to think about debt and saving, are taught at home, modelled by parents. When this is missing, young people are left to figure out money management on their own – often with painful consequences.
While schools and financial institutions have a role to play in closing this gap, it’s the everyday interactions that have the most impact. Conversations around the dinner table, small acts of budgeting at the grocery store, or setting up a savings goal together – these are the building blocks of financial confidence and long-term resilience.
RCS, a financial services provider deeply invested in the well-being of South African communities, believes this is a conversation that can no longer be ignored.
"We don’t just provide financial products, we believe in building financial confidence, starting with young people," says Regan Adams, CEO of RCS. "Through our social investment initiatives, we engage directly with youth and communities to foster skills, mentorship and a sense of belonging. Our belief is simple: when children see positive role models demonstrating respect, resilience and responsible money habits, they are more likely to break cycles of poverty and build brighter futures."
This Father’s Day, RCS urges every South African man – whether as a father, uncle, grandfather, brother, mentor or coach – to step forward and claim the chance to make a difference. Through partnerships with organisations such as the Whitaker Peace and Development Initiative (WPDI) and the JAG Foundation, RCS is working to foster mentorship, life skills and enable access to credit and financial education.
The broader goal, however, is to equip young people with more than just financial tools. It’s to provide a sense of direction, purpose and agency – often best taught by someone who has walked the same path.
When fathers are present, they can help shape financial futures by:
· Leading by example: Showing how to prioritise needs over wants when shopping or explaining the impact of impulse purchases versus planned spending.
· Encouraging saving: Demonstrating how even small, regular savings can grow into a meaningful nest egg.
· Explaining responsible credit: Unpacking concepts like interest, repayment obligations, and the importance of always paying on time.
These everyday lessons create habits that serve young people for life. And while not everyone has a father at home, many still have access to positive male role models.
This Father’s Day, the call is simple: Step up.
You don’t need formal training to mentor someone. You only need time, presence, and a willingness to share what you’ve learnt.
Whether it’s encouraging a teen to open a savings account, talking about budgeting, or simply modelling respectful behaviour – your influence matters. With so many children growing up without consistent guidance, these small acts carry significant weight.
“Let’s celebrate the fathers who are present but also acknowledge the absence that exists for so many,” says Adams. “And let’s encourage every man who can, to step into the gap. One conversation, one example, one relationship at a time.”
