Finweek English Edition - - INSIGHT -

For fam­i­lies that do not earn more than R180 000 per an­num, gov­ern­ment has an ini­tia­tive called Fundisa that will help you save to­wards an ac­cred­ited de­gree or di­ploma at a TVET or Uni­ver­sity.

“You’re paid an an­nual bonus on the in­vest­ment, which can be up to 25% of the money you save an­nu­ally up to a max­i­mum of R600 per child.

“If you save R100 a month [R1 200 a year], you will get an­other R300 a year. To re­ceive the max­i­mum bonus of R600, you have to save R2 400 a year. The bonus can only be used by the learner. You can with­draw your own money but will then lose the bonus,” says Mbuya.

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