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Philanthropy

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PHILANTHROPY FOUNDATION

When you have given your all to have it all, to reach ultimate success, we want you to ask, “What now?”

This is where our first donor-advised fund of its kind in South Africa comes in. It enables individuals and corporates to donate to the foundation and to make recommendations as to how those funds are invested and distributed.

Effectively, it is a collective foundation (one foundation, many sub-accounts).

The Citadel Philanthropy Foundation Trust is a registered public benefit organisation in terms of the Income Tax Act (PBO registration number 930 042 339).

The Citadel Environmental, Social and Governance Report 2023

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PERSONAL GIVING

As a donor you will be able to personalise your account and, if desired, make grants in your account’s name.

COST BENEFITS

The CPF is a good alternative to a private foundation. It offers all the benefits, but with lower associated costs and zero administration.

TAX BENEFITS

Donations to the CPF are immediately eligible for tax benefits; the foundation also facilitates all tax incentives and B-BBEE points.

INVESTING FOR YOUNG ADULTS

As a leading South African financial services company, Citadel is passionate about investing in the youth. Our philosophy, as a business, is that everyone should have a sound understanding of financial markets and access to ethical and transparent financial services. However, to do this, people need to have a basic understanding of the investment universe. We also believe that people are never too young to understand what drives the economy, the markets, and long-term savings. After all, the youth of today are the leaders of tomorrow.

OUR COMMITMENT TO FINANCIAL LITERACY

With this in mind, Citadel launched a 10-module financial literacy programme aimed at Grade 10 learners. The Citadel investing for young adults course is available online via a secure training platform. Each module covers a different aspect of the economy, markets and investing. The content is interactive and accessible for learners, while still keeping it accurate and relevant. Each module takes about 45 minutes to complete and has a quiz or practical test at the end to solidify the learner’s knowledge.

THE FOLLOWING TOPICS ARE COVERED

  • Money
  • The economy
  • Saving
  • Tax, inflation and estate planning
  • Banking
  • Budgeting
  • Insurance
  • Markets
  • Investing
  • Financial planning

SUCCESSFUL COMPLETION

Learners who successfully complete the course, receive an electronic certificate of completion.

Before we launched the course in 2022, the Financial Planning Institute reviewed the course material. This is what they had to say: “The FPI believes that the Citadel Investing for Young Adults course will add an invaluable foundation, background information and explanation of key financial concepts to set learners up to eventually achieve financial success regardless of the career they may choose. We commend Citadel for this initiative. The FPI therefore recommends this programme as an essential steppingstone for young adults on their path to financial literacy, especially in South Africa.”

WHAT WE ARE EXCITED ABOUT

More than 1,500 learners have completed the online course. However, what we are very excited about is that we are in the process of converting the online course into printed workbooks. We have partnered with a non-profit organisation and with the endorsement of the Department of Education, the course will be rolled out in 38 rural no-fee schools over the next two years – reaching about 38,000 learners. In the first year, 2024, we will focus on 19 schools in the Western Cape and Eastern Cape. In the second year, 2025, we will focus on 19 schools in Gauteng and KwaZulu-Natal.

INVESTING FOR YOUNG ADULTS

Watch our Head of Philanthropy, Jean de Villiers, talk more about the Citadel investing for young adults course:

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