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Australian Finance Group Limited (ASX:AFG) has today announced the completion of the acquisition of the remaining 16.7 per cent stake
AFG is evolving its service offering, maintaining its position as the market leading partner of choice for brokers. Australian Finance
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As part of our wider sustainability program, AFG is the Principal Partner of Foyer Foundation, an independent non-for-profit that works with young Australians at risk of, or experiencing, homelessness.
Foyers are integrated learning and accommodation settings that provide young Australians experiencing disadvantage with safe and secure accommodation as they pursue employment and/or education pathways, and eventually transition to independent living.
The funding provided as part of the partnership will support Foyer Foundation in its vision to see 50 accredited Foyers across Australia by 2030. Currently there are 16 accredited Foyers and another 16 which are investment ready.
The Foyer model is an evidence-informed, international best practice that helps disadvantaged young people, aged 16-24, to achieve the transition to adult independence and break the cycle of disadvantage.
AFG CEO David Bailey and Foyer Foundation board member Michelle Hoad, Managing Director of Western Australia’s North Metropolitan TAFE, launched the national partnership at the largest Foyer in the world, Foyer Oxford in Leederville, Western Australia in June 2021.
Following a successful first year, AFG and the Foyer Foundation in 2022 agreed to extend the partnership for a further three years. As part of the three-year extension, AFG has committed a further $600,000 to the Foundation.
The social crisis of homelessness is a whole of community problem. AFG is committed to help play our part in addressing that problem.
As one of the country’s largest networks of mortgage brokers AFG sees firsthand the importance of a place to call home. Foyer Foundation is an organisation that has a globally proven model that works to address the issue among young people, one of the hardest hit parts of our community when faced with homelessness.
By partnering with Foyer Foundation, AFG is supporting a program that helps young people into a stable and secure home from which they can find their feet and take their place in the community.
AFG works to support its brokers to build their success. AFG calls it ‘brokering a better future’. By helping Foyer Foundation to wrap the support needed around these young people, we hope to play a part in helping them build a better future also.
A key component of the funding support is the ‘AFG Independence Fund’, which offers a series of grants accessible to Foyer’s young people. The grants are tailored to contribute to their education, well-being and employment support pathways. Purchase of laptops, purchase of tools and funds for driving lessons, are among examples of how the grants are used.
“The AFG Independence Fund helps to remove barriers that often challenge our young people when striving for future goals, creating more opportunities for our young people, allowing them a chance to thrive.”
This incredible ongoing support and funding from AFG including the creation of an Independence Fund will be a game changer for some of our young people needing to access extra resources and support to help them achieve their goals, often after a turbulent period in their lives.
*13 accredited/accrediting Foyers.
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Australian Finance Group Limited (ASX:AFG) has today announced the completion of the acquisition of the remaining 16.7 per cent stake
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