Standard Bank matches staff giving for aspiring students to the shared impact of R 800, 000
Standard Bank, the biggest bank in Africa by assets, recently reported over R800,000 in staff contributions to aspiring tertiary students through its innovative crowdfunding platform, Feenix.
Feenix, a Public Benefit Organisation established in 2017, was created to close the funding gap for university students who fall outside the reach of the National Student Financial Aid Scheme (NSFAS). In August 2022, Standard Bank launched Payroll Giving as a way for employees to collectively support these students and make a meaningful, lasting impact. This initiative has become a vital pillar of support, especially considering that 81% of students on the Feenix platform do not qualify for NSFAS, a sobering reminder of the deep financial exclusion in our higher education system.
The significance of the Feenix platform is powerfully echoed by Dr Kirston Greenop, Head of Corporate Citizenship at Standard Bank, who recognises its role in driving meaningful, long-term change in the lives of aspiring students:
“We strongly believe in playing an active role in the corporate citizenship space. This goes beyond pure corporate social investments and goes into platforms like Feenix. What began as a small initiative in August 2022 has grown into a movement that reaffirms the power of collective giving and the impact it can have,”
Since the launch of Payroll Giving in 2022, 293 Standard Bank staff members have contributed to the programme, collectively supporting 24 students in pursuing their academic and career goals. One such student is Thobeka, who is studying Bachelor of Engineering Technology in Civil Engineering at Durban University of Technology. She shared:
“When I saw my fees were fully paid, I was overwhelmed with gratitude. Feenix has changed my life. Because of this support, I can now apply for my professional registration with the Engineering Council of South Africa, pursue further studies, and work towards my dream of owning a company that will provide employment to others.”
The need is urgent and undeniable. Every day, bright and determined young people are at risk of abandoning their dreams not due to a lack of potential, but because they cannot afford their university fees. But there is a way forward. Payroll Giving, together with organisations like Feenix, provides a powerful opportunity for those who want to help to turn good intentions into real, life-changing impact. By giving collectively, we can rewrite the future for hundreds of students helping them not just stay in university, but truly thrive. These sentiments are affirmed by Cara-Jean Petersen, Chief Executive Officer at Feenix, who says:
“We were born from the shared belief that access to education for investment-worthy students should not be dependent on wealth. We strive toward this by connecting donors who care with students in need and leveraging the crowdfunding technology to empower and enable students to be a part of their own solutions. We are absolutely overwhelmed by the generosity, passion and innovation displayed by the Standard Bank staff in rallying around us to see this vision through. Without their unwavering support and investment in education we would not have been able to equip so many students to overcome obstacles to achieving their degrees and securing their first jobs. No amount of gratitude could cover it.
In 2024 alone, Feenix raised over R28,2 million, enabling 649 students to receive tuition funding. Since its inception, R227.8 million has been raised and 4671 students have been supported with tuition and holistic services. While the impact to date is worth celebrating, we know the need remains with over 13690 students fundraising on the platform since inception, each with their own story, dream, and potential waiting to be unlocked.