Standard Bank has been at the forefront of impacting students in South Africa through the partnership with Feenix and its innovative crowdfunding platform. Since its launch in June 2017, Feenix has been a game-changer in the educational landscape, providing a lifeline for students who fall just above the National Student Financial Aid Scheme (NSFAS) threshold.
In 2023 alone, Feenix raised more than R11 million, enabling 772 students to receive tuition funding. Since its inception, Feenix has impacted 4,121 students with tuition, while a total of 14,037 students created fundraising profiles on the Feenix platform and have access to their holistic support services.
Lea Schafer, Feenix Head of Fundraising and Communications says: “Feenix aims to make a lasting impact in the lives of students by connecting students in need of funding for current or historic debt, with loyal funding partners. Our funding partners range from private individuals to businesses making Corporate Social Investment (CSI) or Broad-Based Black Economic Empowerment (B-BBEE) donations.”
Feenix goes beyond financial support, offering skills development bursaries and holistic support for under-resourced students. The aim is to support and equip students who are empowered to overcome obstacles to achieving their degrees and securing their first jobs. Holistic services include interventions enabling financial literacy, job readiness and personal mastery, including sponsored services such as mental health support and essential learning tools.
“Businesses can leverage Feenix to connect with potential graduates and interns, creating a symbiotic relationship that benefits both the corporate sector and the student community. Donations are tax-deductible, and business donors can claim Broad-Based Black Economic Empowerment (B-BBEE) points for skills development and socioeconomic development.” says Schafer.
Feenix has a nationwide reach, working with all of South Africa’s 26 public universities. This ensures that no matter where a student is studying, they can access the support they need.
As the founding partner Standard Bank believes that Feenix is more than just a funding platform it’s a commitment to the future of the youth in South Africa. By investing in education, Standard Bank is making a lasting impact on the nation’s future leaders, innovators, and change-makers.
About Feenix
- Feenix is an independent, Public-benefit, and technologically innovative organisation. We serve higher education students to assist in reducing and removing their debt through a secure crowdfunding platform and our Skills Development Bursary programme with businesses.
- Feenix was launched in June 2017 as a response to the #FeesMustFall movement that spread across campuses in South Africa. This movement highlighted the extremely high cost of tertiary education and the impact that financial stress has on a student’s success rates.
- In 2020, Feenix launched Wafunda, the Feenix Social Enterprise creating diversification for income as well as diversification of programming. WaFunda (Feenix Social Enterprise Pty Ltd) is 100% owned by the Feenix Trust and is an Exempted Micro Enterprise (EME) as defined in the B-BBEE Act. WaFunda strives to become a valuable partner for social change that shares the vision of its parent company Feenix.
- Together, Feenix and WaFunda strive to empower students, break down barriers to education, and create a more inclusive society.
- Find more information please visit www.feenix.org and/or contact Lea Schafer via email at lea@feenix.org
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