Access to tertiary education still remains a challenge in South Africa because of financial constraints hence financial services group, Standard Bank has raised more than R30 million for students through a crowdfunding initiative in partnership with Feenix. Moreover, Standard bank has also linked the UCount Rewards programme to Feenix giving Standard Bank customers a chance to fund a student.
Feenix was launched in June 2017 as a response to the #FeesMustFall movement that swept across South African tertiary campuses in 2015 and 2016. The platform connects communities; providing a tool for students to formalize their fundraising efforts and a channel for funders to find students they wish to support. Donors get a chance to see exactly who their money is going to and what it is being spent on.
The online platform has a relationship with students and the universities where students are matched with the appropriate sectors which enable corporates to simplify their recruiting process.
The money was raised through the crowdfunding initiative which has helped over 1000 students cover some of the costs associated with tertiary education.”Crowdfunding is an important new funding model for education. The work being done by Feenix is something we as a bank are proud to be able to facilitate. It is an innovative way of ensuring that many young South Africans can fulfil their potential. As a partner, Standard Bank is committed to ensuring that more young people have access to education in South Africa,” concluded Funeka Montjane, Standard Bank Chief Executive of Personal and Business Banking South Af