HEARD on the street COM­PILED BY NEESA MOOD­LEY

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R 380M IN­VEST­MENT FOR SCHOOLS

Barn­stone Ed­u­ca­tion and the Schools and Ed­u­ca­tion In­vest­ment Im­pact Fund SA have an­nounced an ad­di­tional in­vest­ment as part of the sec­ond phase of the Pres­tige School project, which will fund the de­vel­op­ment and op­er­a­tions of six Pres­tige Col­lege af­ford­able in­de­pen­dent schools. This brings the to­tal fi­nance al­lo­cated to the project to date to R380 mil­lion.

The deal is the lat­est of its kind for the Schools In­vest­ment Fund, an ini­tia­tive es­tab­lished for the pro­vi­sion of low-fee in­de­pen­dent schools and man­aged by Old Mutual Al­ter­na­tive In­vest­ments.

The Thorn­view Pres­tige Col­lege is in its sec­ond year of op­er­a­tions and the Crys­tal Park Pres­tige Col­lege in Benoni will open in Jan­uary. There­after, four new Green­field schools will be de­vel­oped in Gaut­eng, with two schools set to open in 2018, one in 2019 and one more in 2020.

This ad­di­tional in­vest­ment should pro­vide ed­u­ca­tion for more than 10 000 pupils, but the vi­sion goes beyond this to reach 15 000 pupils by 2020.

Pierre Tre­doux, CEO of Barn­stone Ed­u­ca­tion, says the com­pany’s vi­sion is to es­tab­lish a num­ber of schools through­out the coun­try fo­cused on pro­vid­ing qual­ity, af­ford­able ed­u­ca­tion in ar­eas where there is a se­ri­ous need for ad­di­tional in­fra­struc­ture.

SAN­LAM SOUNDS LOAN SCAM ALARM

San­lam has is­sued a warn­ing re­gard­ing fraud­u­lent San­lam loan of­fers that are be­ing is­sued to con­sumers. The of­fer makes fraud­u­lent use of the San­lam brand, and is sent via le­git­i­matelook­ing email ad­dresses from a false en­tity called San­lam Loans and via an email in­box called san­lam­loans@fi­nancier.com.

The emailed of­fer re­quests that you com­plete an “ac­cep­tance form” and sub­mit your bank de­tails for a debit or­der de­duc­tion. It is not le­git­i­mate and is not linked to San­lam.

San­lam’s loan of­fer is man­aged through San­lam Per­sonal Loans, a reg­is­tered credit provider.

So­phis­ti­cated crime syn­di­cates have, in the past, tried to ex­ploit the chal­leng­ing eco­nomic cli­mate by tempt­ing peo­ple with low-in­ter­est loans.

San­lam’s foren­sic investigation unit notes that you should be vig­i­lant and take heed of the fol­low­ing:

San­lam will never ask you for an up­front pay­ment to process a loan ap­pli­ca­tion;

San­lam will not use a .com email ad­dress in its cor­re­spon­dence; and

Spell­ing and lin­guis­tic er­rors in com­mu­ni­ca­tions may in­di­cate a scam in­vi­ta­tion.

FNB PHISHING SCAM WARN­ING

If you bank with FNB, be warned that there is a phishing scam on the go and it works like this: You will re­ceive an email no­ti­fy­ing you that your one-time PIN has been de­ac­ti­vated.

The email con­tains a link that you must click on so that you can “re­ac­ti­vate” your one-time PIN ser­vice.

Note that this email is fraud­u­lent and will take you to a fake web­site that im­i­tates the FNB web­site, where you are then asked to en­ter your on­line bank­ing de­tails. It then takes you to a sec­ond screen, where you are asked to en­ter your card num­ber and ATM PIN.

FNB would not ask you to ver­ify your on­line bank­ing de­tails or ATM PIN via an email. If you re­ceive such an email, delete it im­me­di­ately, with­out click­ing on any links, and con­tact your bank.

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