How do South Africa’s youth rate financial services providers?

[PRESS OFFICE] There’s a concern that South Africa’s young people lack sufficient financial literacy, preventing their ability to make informed decisions about money, and planning for their future. 

This has subsequently become a focus for many financial services businesses as they work to create a more financially inclusive society of responsible spenders.  Many are making positive headway in building trusted brands among South Africa’s youth, as witnessed in the top ten finalists in the financial services categories of the 2024 Sunday Times GenNext Survey.

The annual Sunday Times GenNext Survey, now in its twentieth year, is conducted by Yellowwood and considered to be the leading barometer of what South Africa’s youth find on-trend and aspirational. The survey, conducted with 7 200 youths aged EIGHT to 24 years old, delivers insights that are valued by brand management and advertising and marketing professionals alike.

Here are the finalists – in alphabetical order – in this year’s financial services categories:

Coolest Banks finalists:  Absa, African Bank, Capitec Bank, Discovery Bank, FNB, Investec Bank, Nedbank, Old Mutual, Standard Bank, and TymeBank.

Coolest Savings & Investment Platform finalists: Absa, African Bank, Capitec, Easy Equities, FNB, Nedbank, Old Mutual Invest, Sanlam, Standard Bank, and TymeBank.

Coolest Insurance Brand finalists: 1Life, 1^st for Women, Assupol, AVBOB, Clientele, Hippo, Naked, Old Mutual, OUTsurance, and Sanlam.

The Sunday Times GenNext Survey covers 69 categories from the ‘coolest’ coffee shops to telco’s, cooldrinks to insurance products, entertainment and sport, and everything in between. The winners will be announced at the highly anticipated Sunday Times GenNext Awardstaking place in Johannesburg on 18 November.

The results of the 2024 Sunday Times GenNext Survey will be published in the Sunday Times on 24 November 2024.