Students to benefit from fund

2017-05-03 06:00

Approximately 3 000 university students in ten African markets will benefit from a multimillion rand scholarship fund.

On 19 April, Absa Bank announced an almost three-fold increase in the Barclays Africa Group’s 2017 CEO Scholarship Fund to R210 million.

Maria Ramos, Barclays Africa Group chief executive, said the allocation is in partnership with 21 universities in South Africa and several others in nine markets on the rest of the continent. She said the CEO Scholarship Fund forms part of the Education and Skills Development pillar of Barclays Africa’s Shared Growth strategy, through which it has undertaken to invest R1,4 billion in education and skills training between 2016 and 2018.

Ramos said education and skills development, enterprise development and financial inclusion are the three pillars of shared growth.

“It aims to create shared value for communities and stakeholders.”

Ramos said the financial injection will result in 3 000 university students across its ten African markets receiving a scholarship for the current academic year. She said last year R80 million in scholarships to 2 000 students in universities across South Africa was disbursed.

Ramos said 2 250 scholarships will be allocated to South African students, while 750 will go to students in the Barclays Africa operating regions outside South Africa. She said 500 of the local scholarships will be granted to Absa staff member dependents.

The Education and Skills Development commitment from Absa also includes:

  • the support of 34 TVET colleges as part of the Department of Higher Education’s Adopt a TVET Programme;
  • strategic university support focused on research and capacity development;
  • school governing body training; and
  • Ready to Work, a free skills development programme to give young people a range of work, money, people and entrepreneurial skills.

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