The ASISA Foundation hosted a combined Annual General Meeting and Stakeholder Event on Thursday, 21 February in Johannesburg, to share with stakeholders highlights of what has been achieved to date.
Foundation CEO, Ruth Benjamin-Swales, shared with the audience that the Foundation had received contributions of R69 million from inception to the end of December 2018. More than 25% of the funds were allocated to rural areas and in total the Foundation programmes reached disadvantaged groups of which more than 85% were black beneficiaries and 66% were black woman. The Foundation has to date reached more than 32 000 beneficiaries.
These programmes include the Foundation’s Saver Waya Waya WageWise programme, currently supported by Sanlam, which has provided more than 18 000 economically vulnerable workers across all nine provinces with financial literacy skills. WageWise is responsible for 57% of the Foundation’s total reach.
The Saver Waya Waya Financial Literacy Programme for students at Technical and Vocational Education and Training Colleges (TVET), delivered by the Foundation in collaboration with the Absa Group, is specifically designed for final year students in disadvantaged communities with the aim of preparing them for the job market and managing their money once they start earning an income. In 2018 the programme reached 1 450 students across five campuses.
The Saver Waya Waya Financial Literacy and Micro Enterprise (FLAME) Programme, provided some 1 000 vulnerable community members with vital financial education and entrepreneurial support. The programme also incubated 29 township businesses from the country’s poorest areas, which support 101 jobs, 60 of which are new jobs created during the programme. These businesses started the incubation programme with cumulative recorded turnover of just over R100 000. After 15 months of incubation the businesses were generating cumulative turnover of more than R4 million, of which R1 million was profit.
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