Kinfundi is a brand new category of employee benefit designed to encourage and assist companies in helping their staff save for any future tuition fee expenses. Our mission is to facilitate transformation through access to quality education.
Kinfundi is not a financial service, as defined by legislation and therefore barriers to access (e.g. FICA) are removed or reduced and employer contributions are tax deductible. Employers also qualify for Skills Development and/or SED spend on their BEE scorecards. It works off monthly contributions via payroll that are remitted by the employer to Kinfundi and invested.Accounts are held in Edu-Time Points (ETP) and not Rands, where 1 ETP is equal to R1.
Employers, employees and donors are essentially buying a digital voucher that is worth its face value on redemption, for tuition fees at qualifying educational institutions only, think Airtime for education. Account balances grow through donor and CSI funding, which Kinfundi shares with members and also use as incentives for their actions and behaviours. This is why we need your help.
By becoming a donor, you are empowering the youth of South Africa and providing freedom of quality education for all our members!