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

There’s a concern that young South Africans lack financial literacy, which means they are unable to make informed decisions about money and plan for the future. This has become a focus for many financial services businesses as they work to create a more financially inclusive society of responsible spenders. Many are making headway in building trusted brands among South Africa’s youth, as witnessed in the top 10 finalists in the financial services categories of the 2024 Sunday Times GenNext Survey.

The annual Sunday Times GenNext Survey, now in its 20th year, is conducted by Yellowwood and considered to be the leading barometer of what South Africa’s young people find on-trend and aspirational. The survey, conducted with 7,200 youngsters aged eight to 24, 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: Absa, African Bank, Capitec Bank, Discovery Bank, FNB, Investec Bank, Nedbank, Old Mutual, Standard Bank and TymeBank.

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

Coolest Insurance Brands: 1Life, 1st for Women, Assupol, Avbob, Clientèle, Hippo, Naked, Old Mutual, Outsurance and Sanlam.

The Sunday Times GenNext Survey covers 69 categories, from the “coolest” coffee shops to telcos, cooldrinks, insurance products, entertainment and sport. The winners will be announced at the Sunday Times GenNext Awards ceremony taking place in Joburg on November 18. 

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