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Our Financial Solutions

Employee Benefits Fund

Comprehensive Cover and Savings

Insubu created an EB fund (similar to a provident fund), with the following benefits:

  • life, disability and funeral cover,  which is provided at a much lower cost, than the industry bargaining council provident fund by Simply, a disruptive digital life insurance company. 

    • ​Additional life and disability cover of R28,000 –an increase of 39%

    • Additional funeral cover of R15,000 –an increase of 100%

  • a savings element, which is invested with Franc - Home. Franc, like Simply, is a simple, online platform that provides low cost access to the Allan Grey money market fund, Satrix Top 40 ETF, and Sygnia Itrix S&P 500 ETF

  • ​​based on an average salary of R6,600, the much lower cost of insurance cover and Franc,  results in the employees investment value at the end of 5 years being R39,500 vs R21,900 –an increase of 80%

Earned Wage Access

Instant Access to Funds

  • The scourge of the credit market are payday lenders and mashonisas. The majority of  the working class in South Africa are using payday loans to make ends meet during the month. 

  • Insubu uses Jem to enable employees to take an advance against their monthly salaries to prevent them from having to take payday loans at usurious rates

  • Jem uses a simple WhattsApp interface to transact and communicate with employees

  • Average saving per employee per month is R460

Funeral Cover

Peace of Mind

Many South Africans devote a large and unsustainable share of the disposable income to life funeral and burial policies”

In order to reduce the amount of disposable income being devoted to funeral policies, Insubu has done the following:

  • Increased the funeral cover for employees, which includes their spouse and minor children. An additional R15,000 through the Insubu EB Fund and an additional R18,500 through the bargaining council.

  • Has negotiated with Simply to start offering extended family cover on group policies.  The premiums will be significantly better than the retail cover offered by traditional players

  • Based on an average salary of R6,600, these two initiatives should enable employees to save R330 pm on their funeral cover for themselves and their extended family.

  • As an example, a manager at one of our clients currently spends R1,208 on multiple funeral policies, which represents ~8% of his salary. Insubu is able to provide the same funeral cover for R142. A saving of R1,066 p.m.

Secured Loans

Flexible Borrowing Options

“The unrestricted power of unsecured lenders is burying lower classes into the same inescapable poverty they’ve been fighting for generations.”

“It is a dysfunctional industry where lenders compete on the largest loan size, not on customer value, preying on financial illiteracy and consumer demand for credit”

“The all in cost of some of these loans can be as high as 225%.”

Differential Capital – Unsecured lending has consumers sliding towards financial ruin (2019)

  • The effective cost of a R10,000, 12 month unsecured loan from Capitec cost is 103% and the monthly repayments are R1,210.

  • Insubu is developing a secured lending capability (using the savings element of the EB Fund as security), with similarly significant benefits. 

  • The effective rate will be on the secured loan will be 33% and monthly repayments will be R970, which is a saving of R240 per month, as a result of the following charges​

Industries We Support

Diverse Sector Expertise

Insubu caters for the contract cleaning, security, retail, quick service restaurant, agriculture and hospitality industries, providing tailored financial solutions to meet their specific needs and challenges. 

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