Fundaba
Fundaba is free interactive e-learning business education platform that has been developed inside the FNB banking app for convenient access. It comprises multimedia content such as videos, podcasts, quizzes, templates and tools for all FNB customers to learn about entrepreneurship and running a business.
Here, too, FNB is responding to the challenge of emerging digital banks. Earlier this year, TymeBank launched TymeCoach, designed to get customers’ finances into better shape.
FNB says it has conducted extensive research and worked with hundreds of local business owners and mentors to provide users with critical knowledge and practical help to assist them as they navigate the business journey; from incubating a business idea, to starting, running and growing a business in South Africa. SMEs can also actively share and provide feedback on various educational chapters to increase the effectiveness and relevance of the content.
The name Fundaba was created through the combination of the South African words “Fundi” (“expert”) and “Indaba” (discussion), which describe the aspirations of the product and the impact that FNB hopes to achieve through its use.
Says Jesse Weinberg, head of the SME Customer Segment at FNB, “As a leading business bank in South Africa, a core part of our strategy is to help develop SMEs by supporting entrepreneurs through their journey, and a key part of this journey is entrepreneurship knowledge and skills which we believe can help on a large-scale using our digital infrastructure.”
The Fundaba educational programme consists of 12 modules across 4 lifecycle stages of a business (incubate, start, run and grow) and follows a South African entrepreneur’s journey as he builds his first business – ‘Lebo’s Bakery’. All audio and video content is available in five local languages including, IsiZulu, isiXhosa, Sesotho, English and Afrikaans.
“Through our research and first-hand engagements with SMEs, we discovered that there is a knowledge gap amongst many existing and aspiring entrepreneurs when it comes to starting, running and growing a business. We feel we have a role to play to help close this gap, and at the same time help catalyse a country-wide dialogue of increasing entrepreneurship skills and knowledge sharing.”
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