Croydon Based Entrepreneur Launches Pilot Scheme for Financial Education to Solve Debt Nationwide

Frank Mukahanana who built a company dubbed by the Financial Times as the ‘antidote to Wonga’ has launched the TWiCE Campaign this week, a pilot scheme designed to fight against financial illiteracy by teaching people how money works in order to reduce up to £200m of Croydon’s overall personal debt in five years.

TWiCE is a community outreach program designed to change Britain’s financial landscape, borough by borough by providing free financial education, because Frank believes that everyone deserves a fair shot at financial success.

The reality is that good, hard working people might be struggling with their money for any number of reasons. They often look to payday loans when they have expenses they can’t cover and nowhere else to turn.

In light of Wonga’s collapse, and other payday loan companies racking up thousands of customer complaints, it’s time to transform people’s relationship with money.

Frank believes everyone can start learning how money works, and how to make money work for them. TWiCE is rolling out community workshops that will teach people how to manage their finances so they can build the life they love. A streamlined online platform with Fortnightly Insights will identify constant changes in the world of finance, and how it directly affects everyday people and their money.

In recent studies carried out it was found that on average, Britons start to worry about their finances from the age of 26. Frank believes that when people have little to no margin to work with, it can often lead to feelings of entrapment. In a Guardian article from July this year, it was found that British households spent an average of £900 more than they earned – it then comes as no surprise that people are struggling in more ways than one. That’s why TWiCE community programs will create a safe and open environment to continue the conversation around mental health and personal finance.

Through financial education, TWiCE will instil healthy financial habits in the people of Croydon, turning the Borough from a debt capital to a savings capital, and reducing personal indebtedness in the area by up to £200m in the next five years – and that’s just the beginning. It all starts in Croydon, but Frank plans to roll this out nationwide and change the financial landscape of the UK.

Change starts this week, and Frank and the team will be celebrating the launch on Friday 21 September in central Croydon. The campaign is working directly with the Mayor’s office, Croydon council, and local MPs with Croydon’s main decision makers and influencers, all coming together on the evening to make positive change in the community. At the launch, TWICE will be showcasing how they are empowering the people of Croydon, and then the nation.

ABC Information: If you are interested in seeing how TWiCE is making a difference, check out our website at www.twicecampaign.org and register your interest in changing your borough for the better.