Stellenbosch University receives multimillion rand donation

2017-06-29 18:27
Stellenbosch University. (Duncan Alfreds, News24)

Stellenbosch University. (Duncan Alfreds, News24)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Cape Town - Stellenbosch University (SU) said it has received a donation of R194.6m, making it the largest individual donation the university has ever received.

This comes as total donations to the university increased by 53% in 2016.

In a statement, Rector Wim de Villiers said the donation by Dirk Ackermann is an investment in the future of a new generation of Maties.

"This confirms SU's valuable contribution as a national asset and it sends a strong signal to potential donors who have an interest in continued student success, and a desire to see a consistent output of graduates for the economy," De Villiers said.

The donation was made in the form of a share portfolio in 2006. At the time, the portfolio was worth R8.4m, but grew in value to R194.6m in the meantime.

Spokesperson Martin Viljoen explained to News24 that the donation has only been released now after Ackermann's wife died.

The fund will be used to establish the DW Ackermann Bursary Fund to benefit deserving students in the electronic and electrical engineering disciplines. Additional capital investment and bursary funding will be made through this donation.

"The assumption that all SU students are from affluent backgrounds is incorrect. Substantially more than a third of our most recent graduates received some form of financial assistance during their studies," De Villiers said.

"In 2000, 28% of Maties received some form of financial assistance. By 2014, this was up to 38% of our students. And last year, 41% of our students were from the so-called missing middle, ie from households with a combined income of R600 000 or less per annum."

Read more on:    stellenbosch university  |  cape town  |  education

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X

Inside News24

 
Watch: Investing in the future through child development

An investment of R32-million into 11 early childhood development centres is changing the future for children in the Northern Cape.

Partner Content
What all investors should know about index investing

Index-linked investments are growing fast in popularity globally, and are growing in size and complexity too.

/News
 

Weird things dogs do

Caught your dog doing something... well a little bit odd? Don’t worry, there’s a simple explanation for his behaviour.

 
 

Paws

Makeover saves dog’s life
For the love of Corgis!
Can we communicate with our pets?
8 great natural remedies for your pet
Traffic Alerts
Traffic
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.