How Fundi Loans Started in South Africa
Millions of South African students use Fundi to cover school fees, accommodation, books, and other study costs. For those who don’t qualify for full government funding or need extra help, Fundi loans can be a lifeline. But where did this loan system begin? Who started it, and why?
Fundi didn’t just appear overnight. It was created to meet a real need in South Africa—helping students access education when money is tight. Its history shows how local ideas, partnerships, and goals came together to support learning in a practical way.
Keep reading to discover where Fundi loans come from, how the service began, and why it plays an important role in student life today.
Why Fundi Was Created
Students Were Struggling to Get Loans
Before Fundi existed, many students had trouble getting help to pay for university or college. Banks didn’t want to lend to people who didn’t have a job or steady income. Some students depended on family, while others gave up studying because they couldn’t afford the fees.
There was a clear gap in the system. Many young people were eager to study but didn’t have the support they needed. Fundi was built to close that gap by offering loans focused only on education.
Education Seen as a Long-Term Investment
The people behind Fundi believed that education is one of the best investments a person can make. They wanted to help students who had the potential to succeed but lacked the funds to get started. Instead of focusing only on profits or quick returns, the goal was to help students graduate and become financially independent after school.
How Fundi Started
Originally Called Eduloan
Fundi began under a different name—Eduloan. It was launched in the late 1990s during a time when South Africa was making changes to improve access to education. Eduloan worked with schools, colleges, employers, and government offices to make education loans easier to access.
From the start, Eduloan focused only on education. That’s what made it different from banks and other lenders. The service was designed with students in mind, offering payment plans that worked for them.
Built on Local Support
Eduloan had strong support from public and private groups. Some companies offered Eduloan loans to their workers as a way to help them study further. Government departments used the system to manage study funds for staff. This local backing helped the company grow faster and reach more students.
The Name Change to Fundi
A New Identity With a Clear Meaning
In 2016, Eduloan changed its name to Fundi. The word “Fundi” means “expert” or “educated person” in several South African languages. This change was more than just branding—it showed the company’s focus on learning and growth.
The new name made it easier for people to connect with the purpose of the platform. Fundi wanted to support the full education journey, not just give out loans.
More Than Just Loans
After the name change, Fundi added more services to help students succeed. These include:
- FundiCard – A payment card for student expenses like meals and books
- FundiPay – A secure way to pay for school costs online
- Accommodation payments – For students who live in off-campus housing
- Book support – Making it easier to buy learning materials
Fundi moved from being only a loan provider to being a full support system for students.
What Fundi Stands For
Equal Access to Education
Fundi’s main mission is to help all students get the education they deserve, no matter where they come from. Whether someone lives in a small town or a big city, they should be able to study if they want to. Fundi supports students who might not qualify for government grants but still need help paying for their education.
Helping Students Prepare for the Future
Fundi’s loan structure is designed to keep students focused on school. Repayments usually start only after a person starts working. This gives students a better chance of finishing their studies without extra stress. By removing money as a barrier, Fundi helps more people build skills, get jobs, and contribute to the economy.
Fundi in 2025
Fundi is now a major name in student finance across South Africa. The platform supports learners in:
- Public universities
- Private colleges
- TVET colleges
- Short courses and training programs
Fundi also works with many employers and government departments to manage bursaries and staff development programs. It continues to grow by adding better tools and easier ways to manage student finances. In 2025, Fundi is more than just a lender. It is a trusted partner in education for thousands of students.
Conclusion: Fundi’s Local Roots and Purpose
Fundi loans started from a simple but powerful idea—make education possible for anyone with the desire to learn. Created in South Africa as Eduloan, and later rebranded to Fundi, this platform was built to solve real challenges faced by students who couldn’t get help from banks.
Its services are tailored to the needs of learners, with strong support from schools, companies, and government offices. Over the years, Fundi has grown into a full support system, offering tools that help students manage their money and stay focused on school.
Knowing where Fundi loans come from shows how a locally driven idea can create lasting change. Fundi continues to play a big role in helping students reach their dreams, giving more people the chance to build a better future through education.