[Article I wrote to promote Kinfundi.]
Getting back into the swing of things after the December holidays is always a bit of a challenge. Even more so for those who are unsure of their financial stability or how they’re going to afford the new expenses of the new year. Kinfundi is a way to alleviate some of that strain.
Employers now have the power to send their employees and their relatives back to school. Kinfundi is a new type of employee fringe benefit that bosses can offer to their staff to help them save for future tuition fees for their families.
In a country such as South Africa, with increasing income inequality and stagnant upward mobility, it is important that every person and business that can, offer their staff helping hands where they need it most. And with the cost of education increasing at nearly double the rate of inflation, ensuring that future education expenses are provided for, is a massive step in the right direction.
For the first time in South Africa, there is now a publicly-available product that employers can use to do just that: Kinfundi is a new type of fringe benefit that employers can offer to their staff to help them save for their family’s future education fees.
“Not only are we starting to instill a much needed culture of savings in our country, we are addressing an extremely relevant and important issue in an innovative and interactive way. Imagine the impact on morale, when you help staff not only with their development, but the education of their entire family!” says Chris Nel, Managing Director of TrustEd Education Group.
Kinfundi is an educational affordability platform, not a financial service. This reduces barriers to access and allows for far lower costs, increasing affordability and therefore inclusion. Employer contributions are tax deductible and qualify as both Skills Development and Socio-economic Development spend on their BEE scorecards.
“Kinfundi has been developed and fine-tuned to ensure that all of its features meet market demands and that its’ benefits are in line with tax, BEE and other legislation, making it beneficial to employers and companies as well.” says Dakin Parker, co-founder of Kinfundi.
Another unique aspect of Kinfundi is that it sources and channels donor funding from CSI departments, charities and others, directly to our members.
With the end of the financial year looming, the prospect of a new school year just around the corner and no clear resolution on the #feesmustfall protests, employees and employers should band together to take on this challenge. Kinfundi is perfectly positioned to help in every way, including meeting B-BBEE spend targets for Skills Development and Socio-Economic Development.
Give Together. Grow Together.
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