In the early 1990s, as South Africa transitioned from apartheid to democracy, Archbishop Desmond Tutu coined the phrase “Rainbow Nation”— a name reflecting his dream for a united country. Despite many challenges, he was always optimistic and a voice of hope - not only for South Africans, but citizens across the world.
Following our success in winning the 2023 Rugby World Cup, our unity and diversity as a nation was once again put on display this year. The recent Olympic Games in Paris showcased Team South Africa’s resilience and passion, and our historic general election has reignited hope across the nation, promising a brighter future for all South Africans.
“We all should know that diversity makes for a rich tapestry, and we must understand that all the threads of the tapestry are equal in value no matter what their colour.”
Maya Angelou
Weaving threads of diversity
No two tapestries are the same. The unique, one-of-a-kind picture you see at the end of the slow weaving process is a complete original. In the same way, no two individual’s financial journeys are identical - each one is shaped by various choices and circumstances, which leads to a unique outcome tailored to each individual’s financial needs and goals.
At Picsa, we understand that our clients require a variety of financial products that differ from mainstream banking services. A one-size-fits-all approach to finances does not necessarily cater to the needs of low income workers in South Africa. These workers often feel that they are excluded from common financial services due to their socio-economic status and their inability to meet the requirements of a formal banking institution.
Inspiring hope through affordable financial solutions
Picsa’s financial solutions were built around the principle of hope: we want to give low income workers hope that they can overcome their debt and we want to be a beacon of hope for them and their families for the future.
Just like tapestry weaving involves slow and steady work to weave unique pictures, we believe that steady progress in terms of achieving financial goals is possible.
“We advocate for financial inclusion of low income workers by giving them access to all our financial products, regardless of their income level. We don’t have a minimum savings contribution amount - clients can save as little as R1 at a time if that is the only amount they can afford. We want to give them access to the hope of being debt free and to be able to save for the future through cultivating the habit of saving.”
Thian de Beer, Picsa CEO
Five ways we add hope to each of our financial products
Hope for immediate needs: short-term savings
Instead of relying on credit and payday loans, we make saving simple for our clients. With anytime access and no minimum deposit requirements our clients can begin saving with as little as R10 per month and access their funds when they need it through a convenient monthly withdrawal date.
2. Build hope for the future: long-term savings
We encourage our clients to start building hope for a healthy financial future with long-term savings. Their money is safely invested in their own name, and clients build confidence when seeing how their money grows and feel secure in the knowledge that it's waiting for them when they decide to step into the next chapter of their life.
3. Hope in times of loss: funeral cover
Picsa's funeral cover offers clients a beacon of hope, with one of the most affordable funeral policies available. Our funeral cover allows them to save up to R125 per month and ensures that their immediate family is covered, with the option to include extended family members at a low cost.
4. Hope for a healthy financial future: responsible loans
With our consolidation loan, clients can combine all their debts into one simple, manageable monthly payment, thereby reducing fees and eliminating the need to take out other loans. Our responsible lending approach ensures that clients borrow only what they can afford, with low interest rates that make it easier to stay on track. This unique offering allows clients to save while they borrow, because we’d like them to know that every step forward brings them closer to a debt-free life.
5. Celebrate hope: Earnbacks rewards programme
Our Earnbacks rewards programme acts as a cheerleader for our clients, celebrating their savings milestones by rewarding them for making good financial choices. Members can earn up to 100% of their product fees back in EarnBacks points, which continue to grow over time, offering a payout in cash when they retire or move on from employment.
Partner with Picsa to provide your blue-collar workforce with access to affordable, financial solutions that empower them to overcome debt, build savings, and become financially healthy. Together, we can weave a tapestry of hope for all South Africans.