Feenix.org crowdfunding platform raises R1m during highly successful first month:
Johannesburg, 26 July 2017 – Standard Bank, Africa’s largest bank by assets, continues its key support of powerful crowdfunding initiative Feenix.org with just over R1million raised during the first month of operation.
Since launching in June, 25 students have been fully funded and a total of R1 090 000 raised.
“Thank you to all our donors, individuals and corporates, who have come on board to show their support in improving access to tertiary education for students across the country and, in so doing, change the face of economic transformation in South Africa,” says Jayshree Naidoo, Interim CEO of the Feenix Trust, and Head of the Standard Bank Incubator.
The Feenix.org initiative provides innovative access to digital channels to allow individuals and enterprises to securely donate money directly to students to help them complete their studies, and to remain in the loop every step of the way.
“As a proudly digital bank Standard Bank wants to play a meaningful role in improving access to education. We see the power of crowdsourcing as a viable solution to boosting educational funding channels and are very proud of what has been achieved in just one month. We look forward to far more success via this initiative in the future,” says Mrs Naidoo.
The most recent success stories to date include Mpolokeng, currently studying towards her BTech in Taxation at the Cape Peninsula University of Technology. “Mpolokeng is one of four children, with a total of ten dependants in her family. Her mom is the breadwinner and she was lucky to have been afforded the opportunity to study at a university. Mpolokeng is studying so that she can make a difference in her family and help her siblings to study too”, says Mrs. Naidoo.
Ntombikayise was born in KZN and was raised by her mother, a single parent, following the death of her father when she was only five year-old. She battled throughout her studies having to depend on loans, but with her mother being a pensioner, they have been difficult to obtain. Luckily, Ntombikayise has now been fully funded and is in her first year at the University of the Witwatersrand, studying towards her Masters (MSc) in Chemical Engineering.
Josephine describes herself as enduring in nature, with unwavering commitment to what she puts her heart into. She is currently pursuing her undergraduate studies in BEng: Chemical Engineering at the University of Pretoria, but until the Feenix.org opportunity presented itself, she did not have any form of funding options to continue with her third year, and would have found herself sitting at home when the second semester started. That is no longer a concern, as Josephine has been fully funded and can now continue with her studies.
“These are just some of the wonderful examples of how this innovative model can turn around the fortunes of bright young students who might otherwise never have been able to reach their dreams and fulfil their potential. It is time for everyone in society concerned about the state of education and willing to do something about it, to step forward,” says Mrs Naidoo.
Feenix is part of a multifaceted strategy by the Standard Bank to develop meaningful, practical and sustainable ways to help the youth access quality education to deepen knowledge and build skills for the next generation, improving employability and self-employability, and ultimately contributing to South Africa’s economic growth.
Standard Bank has undertaken to be the financier and go-to-market partner of the Feenix.org Trust, which has been established to retain and manage funds from donors. It has committed to the ‘project for 36 months, or until the project is self-sustaining.
“Helping fund students through their studies and enabling them to reach their nexts in life is one of the best ways to make a real difference to our country’s economic future – but you only need to visit the Feenix.org platform to see how much work is left to do. Therefore, as we celebrate Mandela Month – an icon who believed in the power of education – we would like to call on all corporates and individuals to assist us in raising enough to see 67 students fully funded before month-end and beyond,” continues Mrs Naidoo.
Simply visit Feenix.org make a profile on the website, browse through the database, pick a student or students you want to fund, and nominate an amount you would like to donate to them.
Corporates can donate from their skills development or CSI budget and will receive a Section 18A tax certificate. It also counts towards B-BBEE scorecards.
“Together we can enable students to succeed at their studies and achieve their nexts – taking them from their last day of school to their first day of work. And corporates, these students could be the next employee talent you’re looking for.”
For all details, visit Feenix.org, email info@feenix.org or engage with Feenix.org on Twitter @Feenix_org.
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