From: Ruth Benjamin-Swales <RBenjamin-Swales@asisa.org.za>
Subject: ASISA Foundation Newsletter July 2020
No images? Click here Facing Covid-19 challenges head-on The second quarter of 2020 has increased the ASISA Foundation’s focus on strategies for future sustainability, as well as strengthening internal systems and processes to ensure efficiencies, effectiveness, and synergies across all ASISA entities, as we transition to virtual interactions and continued delivery of programmes through online and digital tools. Programmes embrace technology We have, however, been encouraged by the feedback received from our FLAME and Build Up programme participants via surveys from independent monitoring and evaluation specialists. Participants say they are now better equipped to manage their current financial challenges due to Covid-19 because of the skills and tools they obtained from attending our programme. Amendments
New, improved website Thank you May you all stand strong, be safe, and be blessed in this time. Ruth Benjamin-Swales WageWise is a partnership-based financial literacy programme targeted at workers earning less than R20,000 per month. It seeks to enhance the workers’ ability to grow and protect their wealth, so they can become more financially resilient consumers. Training continues with a new, multiplatform approach As a result of lockdown restrictions, we had to change the 2020 roll-out into a multiplatform approach to address challenges that consumers and workers are facing, especially as many workers are having to deal with reduced incomes. This approach ensures that the programme reaches a broader audience. Radio campaign Facebook campaign Website The FLAME programme is a hybrid consumer financial education (CFE) and socio-economic development (SED) initiative targeted at potential entrepreneurs, micro-enterprise owners and managers to enable greater financial capability, wellbeing and economic participation. The FLAME team’s dedication to CFE reaps benefits The impact of lockdown during the past quarter has been unprecedented, and the ability of the programme to adjust as needed and continue is a testament to the dedication and commitment of the FLAME team and participants. The benefits of FLAME’s national footprint, a project management support team, and regional implementation partners were evident during this period as teams were able to coordinate actions and experiences across regions to fast-track the best way forward. The support provided has assisted in building resilience and confidence within the participants, with all having accessed new technologies (email, Zoom, etc.), which many previously found to be nearly impossible and intimidating. Successes The King William’s Town cohort has experienced a mixture of success and challenges, as 50% of KWT businesses were able to continue operations in this period. Sadly, Covid-19 has also directly impacted three participants’ families. Lockdown woes Build Up is a financial literacy programme for co-operatives which focusses on equipping members with the necessary financial skills to manage their household finances and plan for their future. Pilot virtual training session well-received The Foundation facilitated its first virtual training session for the leadership of the Buffalo City Primary Housing Co-operative, incorporating group discussions and activities. PowerPoint presentations, videos, and infographics shared through WhatsApp were used throughout. Training was well received and participants were eager to learn. The questions raised and experiences shared were pertinent to their personal experiences. For a pilot the challenges were minimal and the experience was valuable. The workshops provided much insight for the Foundation on how to prepare and run future workshops. Wellness day feedback The Wellness Day was organised for the Western Cape Secondary Housing Co-operative where CFE bodies like the Credit Bureau Association, National Credit Regulator, Council for Medical Aid Schemes, and the Western Cape Consumer Office were present. The Retirement Fund Trustee Education (RFTE) programme, run by the ASISA Academy, strives to empower Principal Officers (POs) and both employer- and employee-appointed trustees who sit on the boards of retirement funds to fulfil their fiduciary duty towards their funds, effectively engage with financial service providers, and manage their retirement funds responsibly. Learning continues with new workshops in the pipeline Since the start of 2020, 202 delegates were reached through 17 workshops, including five online half-day workshops using MS Teams from May to July. These virtual workshops included two Section 37C Death Benefits workshops to the Vodacom and Engen Oil Pension Funds, and a workshop on segregated investment portfolios to the Cape Peninsula University of Technology Retirement Fund. Online learning Content development Work is being completed to pursue the delivery of the NQF level seven Principal Officer qualification via Recognition of Prior Learning (RPL). |