The ASISA Foundation is a public benefit organisation founded by the Association of Savings and Investments South Africa (ASISA) with the aim of enhancing financial literacy and enabling greater economic participation among poor and vulnerable population groups in South Africa. The Foundation’s work come alive through five distinct programmes – BUILD UP (financial literacy for groups with a common purpose), FLAME (financial literacy for owners of micro-enterprises), L+EARN (financial literacy for young adults), WAGEWISE (financial literacy for workers) and RFTE (Retirement Fund Trustee Education). The desired outcome of these programmes is to influence a change in financial behaviour through effective, objective, and targeted consumer financial education and skills development, thereby helping programme participants to manage their financial affairs successfully and empowering them to make appropriate financial decisions. Over 90% of programme beneficiaries are black South Africans and more than 45% of these are black women. Since inception in 2013 until 29 February 2020, more than 48 000 beneficiaries were reached across all 9 provinces through face-to-face, in-person education initiatives. During the Covid-19 lockdown period thousands more have been reached through multiple virtual and digital platforms. The ASISA Foundation is funded primarily by ASISA members, as well as grant and donor funding organisations.
