South African fintech startup FinMeUp has partnered consulting firm Decusatio Human Capital Solutions to launch a digital financial consumer education solution that allows organisations of different sizes to onboard staff and beneficiaries as part of their B-BBEE and human capital development strategies to improve financial literacy.
Founded in 2020, FinMeUp offers a comprehensive range of solutions including an education platform, financial advisory, investments, insurance, and credit solutions. As a community-based platform, the startup is dedicated to fostering a collaborative environment where individuals can learn, engage, and grow together.
The startup secured a funding round back in August, and has now partnered with Decusatio Human Capital Solutions, a division of consulting firm Decusatio, to launch digital financial consumer education solution Besmarta. Besmarta, powered by Digime and FinMeUp, will allow organisations of different sizes to onboard staff and beneficiaries as part of their B-BBEE and human capital development strategies to improve financial literacy.
In South Africa, it is estimated that less than 40 per cent of South Africans have a formal retirement plan in place and between 70 per cent and 90 per cent 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 conc0epts such as interest rates, inflation, and savings, regardless of their level of education or employment status.
“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,” said Decusatio CEO Marc Ashton.
“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,” said Higgo Van Biljon, CEO of FinMeUp.
