ANNUAL GENERAL MEETING AND ANNUAL STAKEHOLDER EVENT · Quotes from Facilitators Stakeholder Event...
Transcript of ANNUAL GENERAL MEETING AND ANNUAL STAKEHOLDER EVENT · Quotes from Facilitators Stakeholder Event...
ANNUAL GENERAL MEETINGAND
ANNUAL STAKEHOLDER EVENT
21 February 2019
AGENDA
Stakeholder Holder Event
Time Item Presenter
Annual General Meeting
10:00 - 10:10 Welcome and Chairman’s address Dep Chairman: Ingrid Goodspeed
10:10 - 10:25 CEO’s Report Ruth Benjamin-Swales
10:25 - 10:35 Financial Report Lee Coller
Programme Reports
10:35 - 10:40Saver Waya Waya - Implemention
ExperiencesCoco Cachalia
10:45 - 11:05 SWW : TVETs – Young Adults Ivor Msimang / Alyna Wyatt
11:05 - 11:20 Retirement Fund Trustee Education Ruth Benjamin-Swales
11:20 - 11:40 Coffee Break
11:40 - 12:10 Saver WayaWaya : WageWise Janete Nel /Alyna Wyatt/ Brett Nicholls
12:10 - 12:50 Save Waya Waya: FLAME Ruth/Alyna /Owen /Lesego Moruko
12:50 - 13:00 Closing Remarks – ASISA Foundation Dep. Chairman Ingrid Goodspeed
13:00 - 14:00 Lunch All
Chairman’s Address
Ms Ingrid Goodspeed
Stakeholder Event
CEO’s Report
Ruth Benjamin-Swales
Stakeholder Event
Stakeholder Event
CEO’s REPORT
➢ Profile
➢ Strategic Objectives 2018
➢ Vision 2020
➢ Acknowledgements
FOSTER THE FUTURE – RESPONSE TO ACHIEVEMENT OF NDP
Grow and Maintain
Savings Pool
(Inclusion, Maintenance)
Financial Literacy
and Trustee Training
Economic Growth
and Job Creation
(Infrastructure, SA Financial Centre, FSC)
ESD, Skills Development,
Transformation
1 2
FOSTER THE FUTURE
Stakeholder Event
6
Stakeholder Event
STRUCTURE
Vision
Stakeholder Event
VISION
To implement
• effective and meaningful
• consumer financial education initiatives that have a
• significant and sustainable impact
• on South African society
• through greater financial capability and
• economic participation by particularly the
• poor and needy
Vision
Stakeholder Event
MISSION
To foster the future of South African society and the
Savings and Investment industry through effective,
objective and targeted consumer financial education
to facilitate greater financial inclusion
10
Stakeholder Event
CFE PROGRAMMES
Vision
Stakeholder Event
STRATEGIC OBJECTIVES
• Thought Leader
• Influence CFE Narrative
• Collaborate for Reach, Scale and Impact
• Implement and evaluate strategic and
innovative programmes
Vision
Stakeholder Event
Collaborate for Reach - Scale - Impact
14
Vision
Stakeholder Event
COLLABORATIONS -2018
• Sun International
• Sanlam
• ABSA and TVET College campuses
• Batseta
• Todays Trustee
• SA and WC Housing Co-operative Associations
• Money Smart Week
Collaborate for Reach - Scale - Impact
Vision
Stakeholder Event
Strategic Collaborations
3
121
0 20 40 60 80 100 120 140
Number of
workshops
Number of
Participants
SWW Co-operative Statistics
Vision
Stakeholder Event
Strategic Collaborations
IMPLEMENTING PARTNERS
Stakeholder Event
Vision
Stakeholder Event
VISION 2020
STRATEGIC COLLABORATIONS- 2019/2020
➢ SAICA
➢ Ikusasa Student Financial Aid Programme (ISFAP)
➢ FLAME 2.0
➢ Banking Association of South Africa (BASA)
➢ Financial Sector Conduct Authority
➢ Build Up - Co-operatives
➢ Today’s Trustee
➢ ASISA Enterprise and Supplier Development
Financial Report
Stakeholder Event
Vision
Stakeholder Event
FUNDING
Financial & Compliance Overview
R 52 MILLIONEXPENSED SINCE INCEPTION
• All programmes qualify as consumer financial
education and socio-economic development
• The programmes reached disadvantaged
groups of which more than 85% were black
beneficiaries and 66% were black woman
• >25% of the Foundation’s Board of Trustees are black females
• Unqualified Annual Financial Statement Audit
report (28 February 2018)• >25% of the funds were
allocated to rural areas
Vision
Total Income vs Total Expenses last six years: as at 31 December 2018
Stakeholder Event
FUNDING
-
5 000 000
10 000 000
15 000 000
20 000 000
25 000 000
2014 2015 2016 2017 2018 2019
Total Income
Total Expenses
Vision
Stakeholder Event
FUNDING 2018/2019
- 5 000 000 10 000 000 15 000 000 20 000 000 25 000 000
WageWise
FLAME
TVET
RFTE
Other
Cumulative Project Expenditure from inception to 31 Dec 2018
WageWise FLAME TVET RFTE Other
PARTNERS - FUNDERS
Q&A
Stakeholder Event
THANK YOUAGM CLOSED
Stakeholder Event
Consumer Financial Education Programmes
Stakeholder Event
Saver Waya Waya -Implementation
Experiences
Stakeholder Event
TVETS & Worksites
Stakeholder Event
➢ Collaborating with all project partners: Working as a team with
the funders and Monitoring and Evaluation to decide on
parameters, objectives and finalising a theory of change
➢ Development of appropriate content for each target group
➢ Advocacy & Stakeholder Engagement in identified institutions,
worksites and worker organisations
➢ Training of Trainers
➢ Scheduling and logistics requires excellent project
management to ensure smooth rollout of the project.
Quotes from Facilitators
Stakeholder Event
“I learnt a lot of things in the programme that I have started applying in my personal life”
- Facilitator Dimpho Tshabalala – TVET Programme
“When my students started on the programme, they were shy and did not have a voice, at the end of the programme, they had a voice, were confident and
were performing at the awareness event and sharing what they learnt with other students.”
- Puleng Sirengqe – Facilitator TVET programme
Quotes from Facilitators
Stakeholder Event
“When you are training people about managing finances, you also have to manage your money
well and be a role model. I looked at the exercise on how much do I owe, and looked at my monthly expenses in paying debt, it was about 48% of my
monthly net income, I used the tracking how much you owe tool and started working at reducing what I owe. and now I have reduced my debt to 22% of
my net income.”
– Zain Khan- Facilitator WageWise Programme
ASISA FOUNDATION ANNUAL STAKEHOLDER EVENT
Young Adults
Young Adults
Stakeholder Event
Overview
The SWW-TVET 2018 delivered by the ASISA Foundation, funded and supported by the ABSA group
The SWW-TVET 2018 was implemented from April to October
2018.
Young Adults
Stakeholder Event
Total Reach = 1, 450
The programme was successful at meeting its target of 1000 students.
83%There was good retention of students across
the programme. 83% of students attended
three or more workshops
Reach & Target
172 143 148
391
133
987
34122 122
19
166
463
206265 270
410
299
1 450
0
200
400
600
800
1 000
1 200
1 400
1 600
Reach Per Campus
At least
three
workshops
Non-
Participatin
g awards
event
attendees
Young Adults
Stakeholder Event
Project Success
The two closed Facebook group had 705 active members in total as of 27/11/2018;
continuous engagement and posts on the group.
The students appreciate the content on financial literacy
Young Adults
Stakeholder Event
Needs vs wants 86,62%
77,78%
Cash vs credit 92,85%
97,09%
Simple interest17,16%
46,56%
Credit/loan agreement
74,87%
80,16%
Stokvels42,19%
57,28%
Saving for a car62,21%
73,02%
Compound interest13,48%
30,69%
Payslips51,89%
73,15%
Pre-test Post-test
All test results improved except for Needs vs Wants. The biggest positive change in overall results was for Simple
There has been an overall
improvement of knowledge
during the programme.
In particular there were
substantial improvements in
the percentage of correct
answers to the simple and
compound interest answers.
Saver Waya Waya TVET 2018: Knowledge transfer
Young Adults
Stakeholder Event
46%
63%
Baseline Endline TV
ET
stu
de
nts
ke
ep
ing
a b
ud
ge
t
More students in the sample now keep a budget after the programme This result is statistically significant
Saver Waya Waya TVET: Budgeting
*Endline three months post-implementation
21%
33%
46%
35%
31%
33%
Always
Usually
Sometimes
Out of the people who keep a budget, more people now always stay within budgetThis is a statistically significant result
Baseline Endline
Young Adults
Stakeholder Event
Saver Waya Waya TVET: Saving
*Endline three months post-implementation
26%
29%
45%
57%
0%
43%
I already save.
I don't have enough money to save.
I want to start saving, but I don't know where the best place
is to save my money.
The number students reporting that they are already saving more than doubled at endline.This result is statistically significant
Endline
Endline
Baseline
Young Adults
Stakeholder Event
Saver Waya Waya TVET: Saving
%
%
Easy 34%
52%
Manageable 29%
35%
Somewhat difficult 25%
9%Very difficult 12%
5%
Baseline Endline
More students found it easier to open an investment account, while less found it difficult after the programmeThis result is statistically significant
Savings accountInvestment account
*Endline three months post-implementation
Easy 61%
80%
Manageable
27%
18%
Somewhat
difficult 10%
1%Very difficult 2%
Baseline Endline
More students found it easier to open a savings account, while less found it difficult after the programmeThis result is statistically significant
MaT
Young Adults
Stakeholder Event
Saver Waya Waya TVET: Saving
12% 26%
30%32%
31%18%
26%24%A great deal
A fair amount
A little bit
Not at all
There was an increase in the percentage of students who were not worried at all about their debts, and a decrease in the percentage of students who were worried.This result is statistically significant
BaselineEndline
50%
*Endline three months post-implementation
Young Adults
Stakeholder Event
Saver Waya Waya TVET: Black tax
*Endline three months post-implementation
18%
28%
54%
14%
18%
68%
Very difficult - I am not comfortable discussing financial matters with my
Easy - My family are open and willing to talk about financial matters.
Somewhat difficult - There are certain financial matters that we do not discuss.
The number of students reporting that it is easy to speak to their families about
financial matters increased.This result is statistically significant Endline Baseline
Feelings regarding financial responsibilities Frequency
I feel better prepared to manage my financial responsibilities to my family. 79%
My feelings about my financial responsibilities to my family have not changed. 2%
I do not have financial responsibilities to my family. 19%
Young Adults
Stakeholder Event
Saver Waya Waya TVET: Soft skills
*Endline three months post-implementation
100% of respondents felt that, after the programme, their CV reflected their
experience and qualifications in a format that is attractive to future employers.
(This result is statistically significant)
85% of respondents believe that a CV should be 1-3 pages long. This is consistent
with what was taught in the programme, indicating that knowledge about how to draft a CV
has successfully been transferred to the students.
(This result is statistically significant)
68% of respondents believe that you should update your CV every time something
important happens in your career, while 31% believe that you should update it when
you apply for a new job. The key take-away from this is that, after the programme, almost
all of the students believe that they should keep their CVs current and update so that they
reflect their most recent achievements.
(This result is not statistically significant)
Outc
om
es
Imp
act
Activitie
s
Financial education
workshops are
delivered by trainers.
Trainers facilitate
WhatsApp groups with
students.
SWW TVET SMS
campaign is executed.
SWW TVET social
media campaign is
executed.
Experiential learning is
encouraged through
edutainment.
Outp
uts Financial education content from the workshops is reinforced via auxiliary delivery channels.
Students learn about financial concepts and good financial behaviour, as well as soft skills related to employability to assist them as they
enter the working world.
Students attend
financial education
workshops.
Students engage with
their trainers and fellow
students via WhatsApp.
Students receive
SMSes containing
financial education
messages.
Students engage with
their fellow students via
Facebook.
Students compile own
drama productions as
part of experiential
learning component.
Students are financially capable and prepared for the world of work.
Students’ welfare improves.
Students’ awareness of financial concepts, good financial behavior, and soft skills related to employability improves.
Students share their new knowledge with family and friends.Students’ attitudes towards their finances and job search change.
Students’ knowledge of financial concepts, good financial behavior, and soft skills related to employability improves.
Students adapt their financial and job search behaviour.
✓✓✓✓✓✓
To be assessed
12 months
post
implementatio
n (July – Sept
2019)
• Death Benefits
• Annual Financial Statements review
• Investment Policy Statement assessment
• Investment Management fees and costs
• Default regulations
One day workshops (6 hours)
Half day workshops (3
hours)
• Investment Fundamentals
• Trustee Governance & Ethics
• Employee Benefits
• Responsible Investing
• Investment Fundamentals (Masterclass) in
Active Ownership (for organised labour)
Our programme offering comprises:
Stakeholder Event
Retirement Fund Trustee interventions : 2018
Stakeholder Event
0
20
40
60
80
100
120
140
124
112
93
78
61
38 36
26 26
1612
9
RFTE delegate numbers by workshop type - 2018
Stakeholder Event
Source – FSCA data
1 778 370
840 473
Non-commercial funds
Commercial funds
R2,618,843 million* Excluding GEPF
Retirement fund industry * Fund assets 2018
- R million
Stakeholder Event
Source – FSCA data
Academy
workshops
11%
Remainder
89%
ASISA 2018 penetration – non-commercial
funds: Fund assets
Stakeholder Event
Source – FSCA data
10 705 620
5 606 373
Non-commercial funds
Commercial funds
Retirement fund industry Fund members 2018
Stakeholder Event
Source – FSCA data
Academy
workshops
2%
Remainder
98%
ASISA 2018 penetration – non-commercial
funds: Fund members
Stakeholder Event
Self-Administered and Multi-Employer Funds
Stakeholder Event
RETIREMENT FUND INDUSTRY TREND …from 5,400 active
registered funds
Pension Provident RAF
Preservatio
n
Beneficiary
Retirement Fund Industry Trend
Stakeholder Event
…to 200 multi-employer funds…
Retirement Fund Industry Trend (Continued)
Stakeholder Event
Facilitating Stronger Governance
Stakeholder Event
Relevance of the content
1
0
158
205
Not at all
Somewhat, but notenough
A satifactory amount,met my expectations
Very much, more than Ihad expected
How much do you think that this workshop
has helped fulfil your role as a trustee?The programme content
is relevant to the needs of
participants and is flexible
to the composition of the
groups
Targeting full boards has
the added advantage of
addressing issues that
are relevant to the board.
0
0
146
226
Not very effective at all
Somewhat effective,…
Good, reasonably…
Fantastic, extremely…
How effective did you find the presenter to be
in conveying information to you?The presenters are
flexible at handling the
different skill levels of the
participants but this
continues to be a challenge
RFTE: 2018 Final Report Findings
Stakeholder Event
Knowledge transfer and
confidence level
Knowledge Pre Post
Annual Financial Statements Analysis 41% 54% 13%
Death Benefits 47% 58% 11%
Employment Benefits 43% 59% 16%
Investment Fundamentals 46% 71% 25%
Investment Fundamentals Masterclass 54% 78% 24%
Investment Management Fees and Costs 51% 82% 31%
Responsible Investing 66% 91% 25%
Tax Implications of Retirement Funds 37% 67% 30%
Trustee Governance and Ethics 39% 48% 9%
Confidence Pre Post
Annual Financial Statements Analysis 51% 64% 14%
Death Benefits 59% 76% 17%
Employment Benefits 53% 70% 17%
Investment Fundamentals 53% 73% 20%
Investment Fundamentals Masterclass 43% 50% 7%
Investment Management Fees and Costs 56% 76% 20%
Responsible Investing 42% 78% 36%
Tax Implications of Retirement Funds 75% 89% 14%
Trustee Governance and Ethics 68% 82% 13%
Change
Change
There have been
improvements in
knowledge across all of the
workshop topics
There have been
improvements in the
confidence levels of
participants across the
various the workshop topics
RFTE: 2018 Final Report Findings
Stakeholder Event
This workshop has been made possible by the responsible support
of :
THIS PROGRAMME HAS BEEN MADE POSSIBLE BY THE RESPONSIBLE SUPPORT OF:
Stakeholder Event
Today’s Trustee OnlineEducation Platform updatee-Learning and e-CPD offering
Consumer Financial Education
Stakeholder Event
Trustee education via Today’s TrusteeToday’s Trustee
Introduction to Today’s Trustee
• SA’s foremost trusted pension fund magazine
• Distributed free of charge to >12 000 subscribers each quarter
• Printed copies and electronic versions of the publication
available to trustees, principal officers & other stakeholders
Today’s Trustee partnership delivered the following in 2018:
• Financial Sector Code (FSC) concept educational supplement
presented at Batseta Winter Conference – June 2018
• Delivery of a new online Today’s Trustee subscriber and learner
database managing 12 000 trustee & stakeholder contacts
• Delivery of a new Moodle-based Online Education Platform
offering e-CPD and other Consumer Education info for retirement
fund trustees (Beta version)
• Initial Online Education Platform content developed –
Investment Fundamentals, Introduction to Active Ownership
Trustee education via Today’s TrusteeToday’s Trustee
Today’s Trustee partnership – Key 2019 deliverables
• Delivery of final live version of Moodle-based Online Education
Platform (once the new Today’s Trustee website goes live)
• Delivery of additional Online Education Platform content
• Delivery of four Today’s Trustee publications incorporating
consumer education content
• Partnerships with industry stakeholders for the development and
distribution of consumer financial education content – either for
distribution to the Today’s Trustee database or alternative
stakeholder specific distribution lists
Trustee education via Today’s TrusteeToday’s Trustee
ANNUAL GENERAL MEETINGAND
ANNUAL STAKEHOLDER EVENT
21 February 2019
;
WORKFORCE
STAKEHOLDER HOLDER
EVENT
Reach
Stakeholder Event
9,192 participants reached between Jan – Dec 2018
71%822 2,879 5,364 9,192 18,257
2015 2016 2017 Total2018
492 2,961 5,739
3 x 1-hour 3-hour 6-hour
Geographic
Stakeholder Event
Geographic Reach
For the first time, WageWise reached participants in all 9
provinces
49% are based in rural areas
14
1345 2151
1783
1702
333
462
677
725
Partnerships
Stakeholder Event
Sun International
SANBI
SanParks
DoE
NEHAWU
Department of Finance
Kgosi Mampuru Prison
SAPS
Transnet
Tshwane Municipality
Workshops
planned
169
55
52
20
5
Workshops
held
144
5…
48
2
5
Sanlam Sky
Grounded Media
Sun International (via ASISA)
NEHAWU (via Grounded Media)
SANBI (via ASISA)
In 2018, the programme secured
workshops through 5 channels, with Sanlam Sky accounting for the majority
of workshops held
Employers/Worksites
Workers
Stakeholder Event
Successes in 2018Establishing a strong partnership with Sun International
Establishing a national footprint
Increase in the SMS hit rate since the introduction of an incentive (83%
of SMSs are delivered and 61% of participants reported receiving it )
Solidifying a strong relationship among all implementing stakeholders
Successful implementation of the industrial theatre videos (since they
are in languages that are popular in the areas where the workshops
are held and also include subtitles to facilitate greater understanding)
Testimony
Stakeholder Event
Monitoring & Evaluation
Stakeholder Event
WageWise: Knowledge gain
13%
27%
21%
38%
19%
2015 2016 2017 2018 (6-hour) 2018 (3-hour)
Average knowledge gain per year has been positive
Monitoring & Evaluation
Stakeholder Event
WageWise: Knowledge gain
84%
38%31%
54%47% 47% 45%
39%
93%
63% 61%
70% 73%66% 67%
60%
Needs and
wants
Interest rates Debt
counselling
Payslips Benefit
statements
Savings Selection of
trustees
Role of
trustees
Pre (average) Post (average)
Knowledge gain was the highest for debt counselling between 2015 and 2018 (average over
the years)1
Monitoring & Evaluation
Stakeholder Event
WageWise: Behaviour changesI now only take R100 with me when I go out drinking.
When that’s gone, I either go home or my friends have
to buy me drinks
I have cancelled my DSTV subscription. Changing my spending habits
leaves me with extra money to saveAfter the workshop, I started to clear my debts. I
now only have one or two debts left to pay off
I learned to save and stay away from loan sharks
I opened up a savings account at FNB
The workshop encouraged me to save money for
my son’s school fees
l reduced buying tupperware and buying things from
catalogues l do not need
l am no longer spending too much money on
alcohol and smoking. This meant that I had money
to fix the ceiling at home
Monitoring & Evaluation
Stakeholder Event
WageWise: Impact: 3 vs 6-hour
While the three-hour workshops were successful at achieving some
knowledge transfer, participants reached through the six-hour
workshop performed better on average
7%16%
43%
28%
65% 68%
Which statement is TRUEregarding payslip deductions?
If you buy a cellphone and payfor it over 12 months at a 10%simple interest per month, howmuch will your total repayment
be?
You want to save R1000 amonth for 4 years to get enoughfor a second-hand car. From theoptions provided, where do you
think you should save yourmoney?
(six-hour workshops)
(three-hour workshops) The difference in results could be
because the trainers had more time
to teach the content in the 6-hour
workshop.
Monitoring & Evaluation
Stakeholder Event
WageWise: Behaviour changes
63%
67%
69%
2018
2017
2015
0% 10% 20% 30% 40% 50% 60% 70% 80%
2017 2018 (FPI data)
% of participants that signed up for
FPI session
39% 0.9%
% of participants that met with an FPI
planner
14% 0.4%
2018 (follow-up survey data)
1.5%
1.3%
Coping with Dynamic Change: Aspects of Building Individual and Organisational Resilience to Achieve Impact
• Facilitate ssustained behaviour change resulting in financial inclusion through economic participation and overall improved well-being
• Through effective & relevant financial education
• Give community members a sense of hope and confidence to overcome “learned helplessness” by incorporating “soft skills “
• Use a micro enterprise development programme as a provide the skills and tools to enable income generation
• Embed financial literacy and behaviour change through extended multiple interventions
ABOUT THE ASISA FOUNDATION FLAME Objectives
Stakeholder Event
ABOUT THE ASISA FOUNDATION FLAME - Overview
• Expand financial literacy programme to provide higher impact for community members throughout the micro enterprise programme
• Provide business and entrepreneurial skills training to the target market
• Provide individualized business support at assisting participants to start/ grow and run their micro enterprises
Programme objectives
±270 Participants
5 weeks 10 weeks 9 months8 weeks
Micro Enterprise Bootcamp
MicroEnterprise
Face to FaceIncubation
Planning &
Feasibility
30 Incubatees
Advocacy &
Scoping
4 Areas
Participants
Hammanskraal
Soshanguve
Garankuwa
Rustenburg
Financial Literacy
Close out &
Reporting
3 Areas
77
MicroEnterprise
VirtualIncubation
6 months
±500 Community member
Participants
3 months
Stakeholder Event
Micro-Enterprise Overview
GRADUATING PARTICIPANTSNEW ENTERPRISES
SELECTED ENTERPRISESPITCHING ENTERPRISES
93% COMPLETION RATE
180
200
220
240
260
280
Recruited Targetgraduation
Actualgraduation
7 new Start Ups
operationalized
during bootcamp
and 10 Started in the
Overall Programme
99 Participants pitched their businesses for selection
30
30
39
Rustenb
urg
Hamman
skraal
Soshang
uveSoshanguwe
Hammanskraal
Rustenburg
80% Female representation
in the selected 30 Enterprises
30%
40%
30%Start-up
Established
Early-stage
The Micro-Enterprise Bootcamp and the transition into the Micro-Enterprise
Incubation phases had a number of highlights and key success
INCUBATEES
Stakeholder Event
Virtual Incubation Overview
At the end of the 9-Months incubation period, the extended incubation
programme was launched to imbed sustainability and test virtual approaches.
➢ Retention rate: 29 out of 30 (97% ) micro-businesses completed 9 months of
face-to-face incubation and 20 (68%) of these participated in the virtual
incubation.
➢ Key Performance Indicators achieved - Business and Impact
➢ Business
• Increased Sales
• Increased Profits
• Increased Markets
• Access to Finance
• Financial recordkeeping
• Product costing
➢ Impact
• Jobs supported – created and sustained
• New / enhanced business premises
• Personal growth and assets
• Community impact
• Financial inclusion
➢ Programme generated hope, confidence and resilience
ABOUT THE ASISA FOUNDATION Incubation Highlights
Stakeholder Event
Virtual Approach Limitations
Key limitations presented by the virtual extended programme can be grouped
into the following three distinct but related categories i.e. structural limitations,
environmental limitations and demand side limitations.
STRUCTURAL LIMITATIONS ENVIRONMENTAL LIMITATIONS DEMAND-SIDE LIMITATIONS
LIMITATIONS AS A RESULT OF
PROGRAMME OR ADMIN DESIGN
LIMITATIONS AS A RESULT
OF TELECOMMUNICATIONSLIMITATIONS AS A RESULT OF
BENEFICIARY CONTEXT,
BEHAVIOUR, ETC
1 2 3
• Resource change in terms of
change from face-to-face to
virtual;
• Numerous attempts or multiple
(repeat) calls before getting a
response of the participants;
• Elongated intervention time;
One Size fits all approach.
• Mobile Phone Access;
• Low connectivity;
• Limited network coverage;
Affordability.
• Programme fatigue;
• Busyness;
• Limited tech literacy;
• Familiarity; and
• Reporting biases.
BUSINESS PERFORMANCE
The combined sales and profit recorded for the entire FLAME Programme amounts
to R4.036 million and R1.118 million respectively for all businesses.
63%
37%
58%
42%
Face to face Virtual Extended
Total FLAME sales
(Face to face + Virtual Extended)
Total FLAME profits
(Face to face + Virtual Extended)Recorded over 9 months
Recorded over 5 months (extended)
R4.036 million
R1.118 million
BUSINESS PERFORMANCE
42 new job opportunities were created in the 9-month face-t-face incubation
phase and 18 new job opportunities were created in the extended programme,
bringing the total number of new jobs created in the programme to 60.
41
41
10
12
16 4
42
18
60
Baseline New Start-upsEntrepreneurs
New Start-upsEntrants
Early-stageEntrants
EstablishedEntrants
Face-to-FaceTotal
VirtualExtensionEntrants
ProgrammeTotal
Early-Stage EstablishedStart-ups
Total Start-ups
FLAME Outcomes and Next Steps
Stakeholder Event
FLAME Next Steps
Stakeholder Event
➢ Thought Leadership – Lessons Learned Report
➢ SAICA Collaboration – Financial Management for SMMEs
➢ Re-design and Development of FLAME 2.0
➢ Collaborations: Driven, SAICA, Kamva Capital, Institute 4 Success
➢ Alignment to SAQA accredited NVC programme
➢ Best Practices: OECD/INFE Competencies Framework
➢ Geographic Spread
➢ Link to Existing SMME Development Ecosystems
➢ Secure additional sources of funding
8%
11%
16%
8%
10%
15%14%
8%
6%5%
65% of beneficiaries are over the age of 35
<2
5
26
-3
0
31
-3
5
36
-4
0
41
-45
46
-5
0
51
-5
0
56 -
60
61 -
65
> 6
6
n = 102
Average age 43 years
old
Male 20% Female 80%1
Chart Title
The majority of beneficaries identify as female
♀♂
Age Distribution of Beneficiaries
These findings are based on an impact study of a statistically representative sample of FLAME beneficiaries
Gender Distribution of Beneficiaries
• FLAME was successful at targeting individuals that are aligned to the Financial Sector Codes (FSC) and the ASISA Foundation’s objectives.From the sample, 99.02% were black South African, 0.98% were coloured South African, and 79.41% were female.
• These results exceed the FSC’s target of 85% South African black and 40% black female South Africans.
• Building on the findings from the Saver Waya Waya Hammanskraal pilot, that people in mature life stages were less optimistic about their financial futures, FLAME was successful at
reaching adults in mature life stages.
FLAME: Demographics
Beneficiaries’ Adherence to Budget (N=103)
• FLAME was successful at communicating the importance
of budgeting.
• Between the baseline and the endline survey, 16% more
beneficiaries were adhering to budgets.
• There was a marginal increase of 6% in the number of
households that reported keeping a budget.
Always 66% 49% 33% 78% 25% 64%
Sometimes 20% 23% 33% 8% 50% 14%
Usually 14% 29% 30% 14% 25% 21%
Don't know 0% 3% 0% 0%
Financial literacy Boot camp Incubation
Percentage of households who
keep a budget (N=102)
These findings are based on an impact study of a statistically representative sample of FLAME beneficiaries
FLAME: Budgeting
• The inclusion of an income generation
component marginally increased the levels
of optimism towards savings. Broken down
by beneficiary group, the findings on the level
of optimism about saving were mixed.
• Beneficiaries had positive feelings about
opening a savings and an investment
account – which beneficiaries largely reported
to find ‘easy’ or ‘manageable’.
• There was a 23% increase in the uptake of
short-term savings and a 10% increase in
beneficiaries’ families who now save in a Stokvel.
These findings are based on an impact study of a statistically representative sample of FLAME beneficiaries
Savings Debt and Borrowing
• There was an 18% increase in the number of
beneficiaries who prefer not to use credit.
Preference for credit across all three
beneficiary groups has decreased.
• In terms of the total sample’s borrowing habits, there was a 6% drop in the number
of people who have borrowed money from
an institution.
• 22% less beneficiaries are using a store
account to buy retail goods such as food and
clothing.
FLAME: Savings, Debt & Borrowing
• At the end-line over two-thirds of the beneficiaries were small business owners. The programme was therefore
successful at targeting entrepreneurs.
• Beneficiaries that reported to be employed decreased by 2% between baseline and endline.
• The biggest change in income was seen in the group of beneficiaries that reported earning nothing.
• Beneficiaries who exited after the micro enterprise bootcamp phase and the incubation phase of FLAME
earned more profit in their businesses than those who exited after the financial literacy component.
These findings are based on an impact study of a statistically representative sample of FLAME beneficiaries
Baseline Endline Change Baseline Endline Change Baseline Endline Change
Don’t know 9% 8% 3% -5% 7%
Refused to answer 21% 21% 9% 7%
R0 13% 5% -8% 11% 10% -1% 13%
R1- R400 4% 4%
R401- R800 4% 4% 15% 3% -12%
R801 - R1 600 22% 3% -19% 20% 6% -14%
R1 601 - R3 200 9% 17% 8% 15% 16% 1% 27% 13% -14%
R3 201 - R6 400 26% 33% 7% 16% 16% 7% 44% 37%
R6 401 - R12 800 17% 16% -1% 11% 25% 14% 13% 13% 0%
R12 801 - R25 600 13% 4% 10% 6% 13% 13%
R25 601 - R51 200 9% 4% -5% 11% 6% -5% 13% 13%
R52 201 - R102 400 7%
R102 401 - R204 800
Financial Literacy Bootcamp Incubation
Changes to Profit
FLAME: Income Generation
• Beneficiaries’ financial satisfaction improved from 4.92 to 5.14 (out of 10). This is a
positive, but small change. Beneficiaries are adopting positive financial behaviours such
as tracking income and expenditure, adjusting their expenses and planning for their future
financial needs.
These findings are based on an impact study of a statistically representative sample of FLAME beneficiaries
• FLAME produced
significant results when
it came to increasing
the beneficiaries’ confidence levels
around doing tasks well
and by themselves.
However, for other soft
skills the changes were
marginal.
Disagreeing with someone Baseline Endline Change
Get angry and shout at them 4% 5%
Calmly talk to them, and explain why their actions have upset
me 92% 92%
Say nothing, and stop talking to them 4% 1%
Don’t know 2%
When I am given a task to do feel that
I can do the task well by myself 47% 73%
I can do the task, but I need to ask for help 49% 27%
I can do the task, but I'm too scared to ask for the help I need 3%
I feel that other people can do the task batter than I can 1
In general I love myself in the same way that I love my
family and friends
Strongly Agree 80% 85%
Agree 18% 12%
Disagree 2% 3%
Strongly disagree
Financial Status
Life Skills
FLAME: Financial Status and Life Skills
FLAME sought to address the findings of the 2014 Hammanskraal pilot, which showed that mature adults were not optimistic about their financial future because of a lack of income. To overcome this attitudinal barrier the programme added an income generation component to the financial literacy lessons, thus aiming to enhance financial optimism and making financial
education more relevant to the audience.
• In terms of its target audience, FLAME was successful at targeting the right beneficiaries not only for the programme but for the FSC requirements as well.
• Central to FLAME was income generation. The programme was successful at generating income for beneficiaries. From a profit perspective, beneficiaries who exited after the micro enterprise bootcamp phase and the incubation phase of FLAME earned more profit in their businesses than those who exited after the financial literacy component.
• Increased exposure to the content did result in favourable results in terms of financial behaviour change. Beneficiaries reported that they budgeted more, saved using formal financial products and shifted away from the use of credit. These are all positive financial behaviours that have been sustained over the duration of the programme.
• FLAME included a soft skills component to improve life satisfaction and well-being of beneficiaries. This objective was partially met.
FLAME: Conclusions
Incubatee: Lesego Moruka
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