The objective of the Fund is to encourage investors to save for the tertiary education of any South African child from a low-income household.
This is accomplished through rewarding individuals on an annual basis who have saved through the Fund with a grant bonus of 25% of their invested amount, which is capped at R600 per beneficiary. Investors can save for any child even if the child is not their own, and there are no limits of how many children an investor can save for. Fundisa savings can be used at a NSFAS accredited public FET college or university. The money may only be used for tertiary educational purposes, otherwise the bonus portion will be forfeited.
We make an annual contribution to the Fund to enable the 25% bonus payments to the Fund’s beneficiaries. The bonus amounts are allocated to beneficiaries through participating Funds managed by various collective investment management companies.