Richard Mills realised there is a lack of planning for saving for University in South Africa, so he launched Eduvestment to educate parents about saving for education
Richard was given a bursary by an institution to study a Bcom in Statistics. But in his heart of hearts his passion lay elsewhere, he longed to study a BSc in Actuarial Sciences. The institution that gave him the bursary was unable to fund studies outside of the statistical field and so after one year of Statistic studies, Richard forfeited his university funding.
He was unable to continue his studies due to a lack of personal savings or access to a student loan. During this time he realised there is a lack of education in the savings culture in South Africa so he decided to launch Eduvesment. Eduvestment is designed to teach parents about the importance of saving for a child’s tertiary education no matter which social class they fall under.
“If we could teach ourselves and our parents the importance of investing and saving for education, the next generation will be in a better South Africa and this will help our country to develop a little bit faster.”
Richard supports the idea of free education but understands the implication that it currently has on the South African Economy.
“I support the free education idea but with the South African economy we are not yet stable enough to fund all of those students, we are not Germany or any one of those developed countries. We are still developing.”
The Eduvestment team is working very hard to come up with investment services that will target low class and middle-class families.
“The reason we have funeral covers is because we realized its important to save or invest money for unforeseen circumstances like death”
Richard wants to take that idea and create the same emphasis on the importance of saving for education. The idea is still in its early days but it is great that the youth of South Africa are starting to try and solve the problems that they currently face.
“Let’s take South Africa to the next level by not protesting this time but by coming to see if this concept will be a solution”
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