Financial innovation

Aurum Wealth Creators, according to CEO Shani Naidoo, is on a path of igniting ‘the new’ in terms of financial literacy; wealth creation; products for the modern age (including cryptocurrencies); and financial freedom, through the company’s drive to see wealth created and shared with those who are willing to learn, understand and reposition themselves. ‘As the CEO, it is an absolute pleasure to be involved with such a company bringing this level of financial innovation to the market,’ says Shani.

She adds that the average South African is under significant financial pressure. Even before the COVID-19 pandemic began taking its toll, ratings agencies had downgraded the country to junk status. ‘South Africa’s unemployment rate also reached a record high of 32.5% in Q4 2020. Another issue of major concern is the state of the education system, which of course, impacts the youth, who are the future leaders of the nation,’ she says. It is these challenges that have led Aurum Wealth Creators, a group of highly effective and dynamic people, to create solutions through methods and applications that provide access to the world of money, finance and investing for the general public. ‘Our philosophy is simple,’ says Shani. ‘Bring financial freedom to the people and financial freedom will multiply tenfold.’

While everyone may understand the concept of money, financial literacy is generally very limited. The overwhelming majority of people spend more than 75% of their hard-earned income on debt repayments every month. Another astonishing fact is that it will take the average person approximately five to 12 years to pay off existing credit-card debt – debt that equates to approximately R18 292 for the average South African household. ‘If we look at the type of debt that consumers are battling with, it becomes clear why the debt spiral is so easily engaged,’ says Shani. ‘In addition, other debt attractions exist: more than one store account; student, vehicle and personal loans; bond repayments; five to six different credit cards; and so on. All this is created as a result of past teachings and poor habits in terms of money management.’

With this in mind, Aurum Wealth Creators offers solutions that comprise financial leveraging, debt management and passive-income generation, in addition to related products that address personal and business financial needs in the digital era. ‘The Expense Buster and Debt Review offerings are specifically designed to reduce debt and encourage smarter money management as well as healthier habits,’ says Shani. ‘Both products are coupled with investment in addition to AI and algorithmic methodology, which is applied to all Aurum solutions.’ Industry 4.0 is influencing the financial world as it has most other sectors. Cryptocurrency has the potential to be a ‘sound money’ of the future, with a lesser chance of accumulated wealth being eroded through direct and indirect means, including government interference. Another product Aurum Wealth Creators has launched is its asset-finance package. ‘This is the new smart-money concept of asset finance,’ says Shani. ‘We’ve found a way to by-pass finance charges and bring asset finance to the market in a new and revolutionary way.’

Aurum Wealth Creators promotes financial literacy, which underpins wealth generation

According to Shani, ‘wealth creation, once reserved only for the elite, is now available to everyone. However, it requires a good understanding of financial concepts, which includes gaining insight from experts in the field. Money provides leverage, but in order for money or currency to deliver wealth creation, it must offer a reliable store of value over time’. She adds that with Aurum Wealth Creators, solutions of the new age already exist. While fiat currency and crypto always carry an inherent risk, ‘sound money’ is used in its wealth-creation methodologies and is proving to be an ideal avenue for creating and sustaining the wealth journey. ‘At Aurum Wealth, growing and protecting your income and wealth in uncertain times have become the status quo,’ says Shani. ‘Identifying problems is the easy part, but identifying solutions to these problems always proves to be more challenging. We take the hassle out of financial solutions.’

An example, she adds, is Dial-A-Mula Administrators, a sister company of Aurum Wealth Creators that has launched a dialler product that facilitates income generation for the lower-end and unemployed market through the use of network marketing via mobile phone. ‘The aim is to provide financial education in terms of basic literacy, how to start a small network business and, ultimately, contribute to alleviating poverty and unemployment,’ she says. The Dial-A-Mula product is also able to facilitate stokvel communities that wish to participate in the offering, thereby encouraging community development and upliftment through improved livelihoods and financial sustainability. ‘Furthermore, Dial-A-Mula’s high-tech integration and app methodology will enable university and school students to attend virtual classes via cellphone,’ says Shani. ‘This is an educational drive that the company is very passionate about.’

The Dial-A-Mula pre-launch took place in early February 2021 in Alexandra (located in South Africa’s Gauteng province), followed by two community-outreach sessions that were held at the Alexandra Community Centre, where residents of Alex were introduced to the financial tools. According to Shani, Dial-A-Mula is set to go live in Q2 2021, after which an office will be established in Alexandra. ‘Its purpose will be to teach and enable financial growth, and stimulate a higher vision and purpose for people,’ says Shani. ‘We look forward to meeting with government to produce a collaborative solution for our people.’