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Absa continues to invest in financial education
Now in its fifth year, the Absa Financial Education Programme continues to enable employees to make informed financial decisions relating to their personal money management, accumulation of assets, debt management and providing for their retirement. The bank has invested R30 million in the past five years on providing free financial education through its national financial literacy program.
Arrie Rautenbach, Absa's head of retail markets, highlights the importance of financial literacy in today's tough economic environment. "According to a student's study, conducted through the Gordon Institute of Business, on the relationship between financial literacy and economic measures, individuals who have received financial education have a higher savings rate and are better equipped to make informed financial decisions.
"We must remember that employees dealing with personal financial stress cause a pattern of problems in the workplace including decreased ability to concentrate, increased absenteeism and the risk of fraud and/or theft that can negatively affect individuals and employers on various levels."
