14 March 2018

South Africa: Nedbank Invests R72 Million in Education Solutions

Johannesburg — FINANCIAL services giant, Nedbank, has over the past year invested more than R70 million in education in South Africa.

The funds have been devoted through its corporate social investment arm, the Nedbank Foundation.

Mark Rose, Head of New Business Development for Nedbank Business Banking, disclosed the investment as the firm announced the launch of a range of digital offerings the company believes would ease the administrative burden at local schools, helping them become more efficient and enhancing the education outcomes of learners.

"(The fund, R72 million) all of which is focused on making a positive difference to the country's schooling sector and enhancing schools' capacity to develop the leaders our country needs to take us forward to a brighter future," Rose said of the investment.

This suite of solutions announced by Nedbank includes SchoolAdvisor, a procurement offering specifically made for schools that allows staff to easily access price comparisons between suppliers as well as independent reviews of the quality of service and products each of these suppliers provides.

To enable easy and secure payments and receipts, Nedbank offers the Karri App, which is a mobile payment platform that parents can use to make payments for their children's participation in school events.

The application makes it easy for teachers and administrators to remind parents about payment deadlines as well as allocate the payments they receive, all without the need for learners to have to carry cash or for the schools to have to hold large sums of money on premises.

The Nedbank suite of school solutions also includes a digital offering focused on helping learners improve their education outcomes.

Tendopro is a Nedbank-sponsored, free education platform that allows learners to access supplementary learning and revision material online.

The solution offers learners a compelling incentive to work through the material, allowing them to earn 'Tendoberries' as they progress, which they can then redeem for airtime, data bundles and music downloads.

Rose said developing the suite of digital solutions afforded the bank the privilege of gaining better understanding of the ecosystem of schools in the country.

"We intend using those insights to constantly refine these solutions and develop innovative offerings that add value to our schools, reduce their administrative burden and maximise the positive impact they have on the lives of the young people they nurture."

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