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Eduloan was established in 1996
Rebranded to FUNDI in October 2016
We specialise in solutions for Educational
Institutions
• Educational loans
• Bursary management
• Educational Technology tools
We are committed to making education
affordable and accessible to all aspiring
students
FUNDI OVERVIEW
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OUR CREDIBILITY
Our People• SA - 139 staff • SA - 48 branches• SA – 5 retail branches• Zimbabwe - 10 staff• Zimbabwe – 2 branches
Our StakeholdersKey relationships with:
• 26 Public Universities
• Public and Private Institutions
• FETs Institutions
• Corporates
Our Shareholders
• Public Investment Corporation – 40%
• Open Learning Holdings – 20.93%
• Standard Bank – 16.5%
• Kopane Investment – 17.63%
• Management & Staff – 4.94%
Funders
• UIF
• Public Investment Corporation
• Compensation Commission
• Standard Bank
• Mergence
20 years in existence
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FUNDI CORE PRODUCTS
Educational Loans and
Bursary Management
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EDUCATIONAL LOANS • Loans rand value advanced since inception: R5 billion
• Number of loans advanced since inception: over 830, 000
• Collection rate: 98% (salary deduction) 95% (debit order)
• Impairments: less than 2% (salary deduction) and 5% (debit order)
Key
Sta
ts
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EDUCATIONAL LOANS CONT…
Interest rates & fees: As a developmental finance provider Fundi strives to offer competitive interest rates on unsecured loansto drive accessibility to education funding
Seamless customer experience: Reduce administration requirements for student and borrower as Fundi deal directly witheducation institutions from TVETs, Universities and private institutions
Focused on education: Funds are used for their intended purpose as we pay the institutions or service providers directly ratherthan to the individual
Wide range of loan offerings: Offer education loans for tuition fees (University, TVETs, schools & professional societies), books,accommodation and education technology
Multiple loan solutions: Various collection methods from salary deduction (civil servants & specific corporate employees)through to debit order collection
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UN
IVERSIT
IES
PU
BLIC
FETS
OTH
ER
AFFILIATED HIGHER EDUCATION INSTITUTIONS
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FUNDI BURSARY FUND MANAGEMENT
165 154 155 149 196
125 202 188 186 205
240
345 426 371
918
157
117
235 275
195
637
930
1,051 1,035
1,329
-
200
400
600
800
1,000
1,200
1,400
1,600
Act. 2012 Act. 2013 Act. 2014 Act.2015 YTD Act.2016
Millions
Cash&Tuition
Food
Books
Accomdation
Funds underadministration
• Total funds managed on behalf of universities and private bursars from inception: R5.5 billion
• Total number of current beneficiary / active students: 128,437
• Current number of funders: 40
• Merchant network: Over 2,500 nation wide
Key
Sta
ts
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FUNDI BURSARY FUND MANAGEMENT CONT…
A solution tailor made to work in a South African context - a clear understanding of the infrastructure and logisticalchallenges faced by merchant networks, institutions, funders & students
A solution that is scalable and stable – technology underlying the solution is built to handle thousands of transactionsper second with sound business continuity in place to ensure system uptime
A solution that can accommodate any method of transacting – technology underlying the solution can facilitateauthenticated & un-authenticated card swipes, tap-n-go devices & mobile transactions
A transparent solution with in-depth reporting – All bursary related information readily accessible from the bursarymanagement portal with full reconciliations and transaction related information
A national footprint of on and close to campus merchants and offices – Our merchant footprint include nationwideaccess to Shoprite / Checkers, 107 book stores, 300 accommodation providers & 508 food merchants. We have apresence through local branches at 22 of the 25 formal Universities
A solution with built in spend control technology - through spending categories managed through the Fundimerchant network bursary funds are used for the intended purpose
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• In order to encourage corporates to invest money into bursary funding we have created
a central online platform (www.edufunding.co.za ) through which the following can be
done:
• Advertisement of bursaries
• Automated screening of applicants
• Selection of successful candidates
• Disbursement of bursary funds using a secure closed loop system
• Student support services
• Online visibility on spend and usage of funds by beneficiary students
• Analytics and reporting
• There are well over 200 bursaries advertised on this platform, with more than 300,000
registered users accessing the platform monthly
BURSARY FUND FACILITATION PLATFORM
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BURSARY FUND FACILITATION PLATFORM CONT…
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PRO
VIN
CE
UN
IVERSIT
IES
VEN
DO
RS
Gauteng City Region Academy (GCRA)
Premier’s Office (North West)
CO
RPO
RATES
Zululand Antracite
Dell
Foundation
Individual food
vendors = 130Individual book
vendors = 130
FUNDI BURSARY STAKEHOLDERS
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KEY CHALLENGES IN STUDENT FUNDING
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KEY FUNDING CHALLENGES - LOANS
• Loan funding is currently provided to parents/ guardians / sponsors based on their
payment profile, affordability (income and expenses) and behavioral patterns
• This does not cater for underprivileged students with no sponsor or surety who meets
the above criteria
• Cost of higher education makes it difficult for underprivileged students to access it even
though they may have a working sponsor (missing middle)
• The lack of scoring models that can measure propensity to repay rather than
conventional affordability criteria
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KEY FUNDING CHALLENGES -BURSARIES
• It is not known to us how many bursaries are currently available in the country and what
the combined value is
• Many bursaries are granted on the basis of academic merit rather than neediness of
students
• Bursaries are channeled towards historically privileged universities rather than
historically black ones
• Lack of information on the availability of bursaries (disparate platforms)
• Low throughput rates discourage corporates from investing in bursaries