Weco Education Trust

IT 343/2014


A Message From the Founder


Education is very important to me as I come from a working class background, where both my parents left school at age 14 and both went straight into manual labouring jobs. My father - Michael Davies – was adamant that travel and education broaden the mind and ensured that my brother and I had the best opportunities he was able to afford.

I soon found out that my “free”, (state funded) education was not as “good” as my father had intended and the only way I was going to improve my life was if I furthered my education myself. As there is 'nothing for nothing' in this life I set about learning as much as I could with books borrowed from the local library. I invested a great deal of my time into educating myself in business as well as broadening my knowledge of history, geography and general knowledge to make myself more valuable in the work place. This created for me opportunities to study further and create yet more value and so the cycle of improvement began.

My desire is that the Trust will reach out and touch as many deserving South Africans as possible and promote in them an attitude of abundance and possibility. After all, Africa is too rich to be poor and educating people to believe in themselves and equipping them with the tools to be relevant, economically active members of society will change South Africa into a true economic power house, a place where all of our children may grow and prosper together
Founder

Contact Us

Please fill in the form below to apply for funding or to donate to the Weco Education Trust


Name


Email Address


Phone number


Funding or Donation?


Congratulations. Your message has been sent successfully.
Error, please retry. Your message has not been sent.

The Purpose of the Trust

The Trust offers financial assistance to people with financial barriers to further learning or studying opportunities. Using the earnings from its holdings in the form of dividends and by acting as a conduit for other company’s CSI spend in line with BEE we are able to make financing available to a wide range of learners for a wide range of courses.

We focus on the following areas of study.
1. University Bursary funding for courses leading to a certificate, diploma or degree
2. AET - Basic education in maths and English/Communication to improve understanding and ability to function in the work place. REALLL NQF2-4.
3. Vocational training for skills development, designed to upskill and increase the chance of employment.
4. Personal Development programs to increase entrepreneurial thinking and create employee engagement that will contribute to economic growth.

The Trust has taken up the challenge of Mahatma Ghandi “to be the change we want to see in the world”. We believe that skills development and personal development go hand in hand and that a holistic approach is required to redress the poor level of education in our country where according to Stats SA 1st quarter 2019 shows an unemployment rate among 15 to 24 year olds is 55.2%.

To be truly economically empowered we must be able to contribute to society and the economy and to do this education forms the foundation. It is our aim and our purpose to serve and to support a wide range of beneficiaries through donations towards their education.



Sources of Income

The trust receives 26% of the declared dividends in any given year from Weco (Pty) Ltd. The Trust may receive donations, as it is a registered charity organisation, from third parties. This is an untapped source of funding currently. Donors will receive a section 18A certificate for tax purposes and will score SED points in terms of BEE.

Fundraising is an area where we are sorely lacking in expertise or hands on administration. We welcome any donations as well as the time and efforts of fund raisers who are able to tap into the massive CSI spend of South African based companies, to further our aims.

Please contact us using the form above if you wish to donate or offer assistance

Our Trustees

The Trustees have been specifically invited and chosen to join the Board by the founder based on their experience. The CVs of the trustees are available on request and together we have many years of experience in business, covering all aspects from legal, compliance, administration, HR, training and development, finance and accounting. These business skills serve us well in the successful operation of the Trust. Our role as trustees is to further the aims of the Trust fairly and in accordance with the objectives set out in the Trust Deed. Working closely with the MD and CFO of Weco (Pty) Ltd., to give input on behalf of the Trust regarding matters of dividends, investments and strategy we strive to meet the needs of Weco (Pty) Ltd., of which the Trust is a 26% shareholder and to distribute income to beneficiaries to further their individual educational needs.


Our Beneficiaries

Beneficiaries are clearly described in the Trust Deed as being “black” as defined by the relevant BEE Act and being natural persons who receive and accept a donation, sponsorship or bursary towards their education. They remain a beneficiary for the duration of the financial year in which they receive the financial aid. Our focus for 2019/2020 is to assist black women.


Support for our Learners

Where possible through our associates and colleagues we aim to offer support to the learner during their studying. This may take the form of work experience opportunities, additional personal development or vocational study programs and additional lessons for a subject or module that is giving difficulty.