Mathematical Literacy as a new subject in the final three years (grades 10 to 12) of schooling in South Africa is discussed. The discussion is driven by debates and deliberations around the introduction of Mathematical Literacy as they emerged in the public domain and constructs emanating from a diverse field of literature related to both mathematics and mathematical literacy. In particular the National Curriculum Statement Grades 10 to 12: Mathematical Literacy is held in focus and somewhat mirrored against Critical Mathematical Literacy. It is concluded that there should be guarding against Mathematical Literacy degenerating into a 21st century form of arithmetic.