Former Orlando Pirates midfielder Steve Lekoelea believes clubs should place greater emphasis on educating players about saving and investing their money during their playing careers.
The 46-year-old spent a decade at Orlando Pirates, where he became a fan favourite thanks to his dazzling performances in midfield.
Now, nearly two decades after retiring from professional football, Lekoelea admits he failed to invest his earnings during his playing days.
He says financial education was never part of his upbringing, making it difficult for him to understand the importance of saving for the future.
“I was never taught about investment or how to save money. Things like that, I was never taught at home while growing up,” Lekoelea said.
“I was never asked as a child what I wanted to be. I learned things along the way. So you can’t blame me for not investing.”
Lekoelea also revealed that he received little to no guidance on financial planning when he joined Pirates in the mid-1990s.
“I don’t remember them giving me advice on savings and investment. That’s their biggest problem,” he said.
“They should advise us because they pay us a lot of money.”
The former Buccaneers star recalled how lucrative his early years at the club were, admitting that he was more focused on enjoying his earnings than planning for life after football.
“The chairman paid me a lot of money. I didn’t even know what my first salary at Pirates was. Whenever I scored a goal, I’d get an extra R10,000. That’s why I love money so much,” he joked.
Lekoelea’s story is not unique. He is among many former PSL players who failed to invest their earnings during their careers.
Pirates legend on financial management
Reports have frequently highlighted the financial struggles faced by retired footballers, with many local players reportedly going broke within a few years of hanging up their boots.
His comments have once again sparked discussion about the need for stronger financial education programmes in South African football to help players prepare for life after retirement.
