The Foundation is set up and aims at all times, to qualify as a Broad-Based Ownership Scheme (B-BOS) as defined by the codes of Good Practice on Broad-Based Black Economic Empowerment (B-BBEE) gazetted under the B-BBEE Act, in terms of which at least 85% of its activities are carried out for the benefit of Black persons in the Republic of South Africa, of which 40% will be for the benefit of Black women.
Grant contributions made to the ASISA Foundation to support Consumer Financial Education, as defined in the FSC, will facilitate immediate 100% FSC points scoring, with the grantor (measured entity) being able to immediately recognise the full grant amount awarded.
The ASISA Foundation will also be the primary beneficiary of the ASISA Enterprise Development (ED) Fund which is an ASISA entity aimed at Enterprise Development of qualifying Emerging Micro Enterprises (EME’s) and Qualifying Small Enterprises (QSE) through structured capital finance and business development support. This will serve to ensure the Foundation’s future sustainability.
Additional benefits to contributors to the Foundation include: