Stellenbosch University receives multimillion rand donation

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

Stellenbosch University. (Duncan Alfreds, News24)

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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

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