Avo Solutions
Boikanyo Ramothwala, one of 200 Rosebank College students who attended the Avo Vision/Absa Consumer Financial Education workshops in August, shared their insights with us. "Today, I learned about the 50/30/20 savings rule, which will help me manage my finances better. I also discovered that I can use the allowance I receive from my parents to start a side hustle. Listening to other students' ideas has inspired me to launch my own business.”
The partnership between Avo Vision and Absa was launched in March 2024 and aims to equip 9,000 South African consumers with knowledge and skills to manage their finances better. This education helps people make more informed financial decisions which in turn leads to financial freedom.
This initiative is currently supporting community-based individuals in Mpumalanga, Limpopo, and Gauteng. For the first time, the programme also includes ten financial skills training workshops focused on reaching small business owners in the same areas. This training enables them to understand financial concepts and products relevant to running their businesses. Financial education helps small business owners thrive in a competitive environment, access resources, manage risks, and achieve long-term success while improving the local economies.
Avo Vision trainer Lawrence Tlhapane had the following to say about the Rosebank financial skills workshops that he facilitated for the students: "Today was really an incredible day. I connected with younger, more active participants and had to find different, fun ways to teach them about money. I highlighted the importance of handling their money differently to prepare them for the real-life world of employment."
One of the participants, Nolwazi Hlatshwayo, said that she learned about budgeting. She also shared that one should not depend solely on a salary but rather find ways to boost income, such as starting small businesses. Her goal is to invest and start her own business. It bodes well for her financial future that Nolwazi says that she will now start budgeting every month.
As the programme progresses, the partnership with Absa has extended to make use of local radio stations to spread financial skills and knowledge to communities far and near. Five of Avo Vision’s financial education experts have been invited to share their insights. Their interviews will be broadcast in different provinces using local languages.
As the programme progresses, the partnership with Absa has extended to make use of local radio stations to spread financial skills and knowledge to communities far and near. Five of Avo Vision's financial education experts have been invited to share their insights. Their interviews will be broadcast in different provinces using local languages.
The Avo Vision experts not only teach financial insights but also live by them. Hanli Buber, Avo Vision's Head of Consumer Education, shares, "One financial rule that I absolutely live by, and have taught my children, is that you must always pay yourself first. The first 20% of every bit of money I receive goes directly into my savings. When it's gone, I can't touch it. I don't even think of it as my money anymore. That is how I save for emergencies, retirement, and special wants."
With every workshop, we see how our participants' mindsets change and how brighter futures and bigger life goals become more attainable. Avo Vision is committed to bringing this empowering opportunity to as many employees and community members as possible.
