An actuary with experience in the insurance industry with both Deloitte and Discovery.
A chartered accountant and investment banker with experience at a leading local bank.
A qualified attorney with experience at Bowmans, specialising in Mergers and Acquisitions
A technology professional with 14 years’ experience in the South African startup environment.
What do we do
Nobuntu began with a simple observation that the ability of the average person in South Africa to put aside regular amounts of money each month is severely limited. Their earning potential is constrained. Opportunities to invest or save in structured and secure financial vehicles, are frequently beyond their reach. To reach these people, long-term savings products must be tailored to fit the needs, reality and lived experiences of people who arguably need to save the most.
However, most currently available long-term savings products are expensive, inaccessible, complex, lack transparency on fees and engage customers badly. These products are seldom designed with low-income earners in mind. This means that low-income earners lack meaningful access to financial products suited to their needs. Living longer becomes a real source of difficulty and fear.
Nobuntu is determined to solve this problem by providing low-income earners with financial security in old age. Using technology that gives people the ability to access the power of community, we provide a mutual savings solution where customers contribute as much and as often as they can while receiving increasing annuity payments for the rest of their lives. Through this we enable people to earn more, the longer they live. Helping them to break the cycle of poverty and assuring them of dignity in old age.
Finacial Services. Specifically, Insurance.
Low income South Africans earning between R50,000 and R100,000 per annum.
“Our reason for existing has not changed. We remain focused on solving the problem that we started out to solve, however we continually learn more about our customer and our business. We make frequent mini-pivots to refine our offering. It’s like putting together a puzzle and each week more and more of the puzzle is coming together. What has stood out for us, is the way we have grown as a team. Our skills complement each other’s and we are constantly learning and growing together. While we knew it would be challenging and we hoped it would be fun, it has proven to be more fun than we imagined and the challenge greater than we previously thought.”