Innovative new financial education partnership delivers BBBEE benefits and social impact
Finance and financial performance concept illustration
Decusatio Human Capital Solutions has partnered with financial education provider FinMeUp in an exciting new collaboration that will allow organisations to secure Socio-Economic Development recognition on their broad-based black economic empowerment (BBBEE) scorecards.
In South Africa, it is estimated that less than 40% of South Africans have a formal retirement plan in place, and between 70% and 90% of the country cannot afford to retire. These alarming statistics indicate that over half of the adult population in the country lacks a basic understanding of financial concepts such as interest rates, inflation and savings, regardless of their level of education or employment status.
To address this critical issue, personal finance and investment education platform FinMeUp has joined forces with Decusatio Human Capital. Together, they are introducing a digital financial consumer education solution to the mass market called Besmarta. Besmarta, powered by Digime and FinMeUp, will allow organisations of different sizes to onboard staff and beneficiaries as part of their BBBEE and Human Capital development strategies to improve financial literacy.
Decusatio CEO Marc Ashton says: “Having covered financial markets for nearly 20 years, the subject of financial literacy is something I am very passionate about – and the fact that we have been able to find a scalable and innovative partner for this project is incredibly rewarding.”
Decusatio head of Human Capital, Nelly Mohale, adds: “This partnership strengthens our outsourced HR offering and allows us to engage with businesses who see staff as their most valuable asset to invest in.”
The product has been reviewed by one of South Africa’s leading BBBEE verification agencies, which has confirmed that it is suitable for recognition under the Consumer Education element on the BBBEE scorecard.
“We are excited by this partnership and look forward to working with the Decusatio team to fulfil our mission to deliver high-quality financial education and help ordinary South Africans make smarter financial decisions,” concludes Higgo Van Biljon, CEO of FinMeUp.
