Financial Education helps vulnerable South Africans to successfully navigate Covid-19

Genesis, the MEL partner of the ASISA Foundation, assessed the extent to which financial education, in particular the financial education provided by their WageWise programme, builds resilience during economic downturns. The survey found that individuals who had received some form of financial education prior to the pandemic, fared much better compared to their counterparts. In particular, they had existing savings, less debt, and they were able to continue to provide for their families, even with reduced incomes due to the pandemic.