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ABSA invests R2.4million in scholarships
ABSA invests R2.4million in scholarships
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ABSA invests R2.4million in scholarships

Date Released: Fri, 21 September 2018 12:42 +0200

By Sino Falakahla, 3rd-year journalism student

Absa recently handed over a cheque of R2.4million to Rhodes University from its CEO scholarship programme for the 2018 academic year.

Absa’s funding will extend to a group of carefully-selected, academically deserving Rhodes University students for the entire year of 2018, in the following academic fields: Commerce, Humanities, Engineering, Science, Art and Technology. The scholarships are granted on academic merit and the primary focus at Rhodes has been to assist students in the missing middle group.

During the handover ceremony, the Absa team encouraged students to use this opportunity to contribute to the greater good of humanity. The scholarships will support 49 students with full tuition, as well as residence expenses in some instances.

Vice Chancellor Dr Sizwe Mabizela and Deputy Vice Chancellor of Research Dr Peter Clayton were present at the ceremony to receive the scholarship cheque.

Dr Mabizela encouraged those present to support Absa bank because “they are a bank with a conscience,” he said. “They are committed to making a positive contribution to this country." He thanked the bank for its commitment to creating a better, more inclusive and fairer society by investing in the country’s youth.”

In the past two years, Absa has funded over 6500 university scholarships for young people across Africa. Twenty-one universities in South Africa are being supported, including Rhodes University.

Absa's commitment to education includes a study loan scheme and a free youth banking product, which responds to the broader development needs of financial inclusion.

De la Mare said, "We like to see who we are partnering with. We like to see who you are, so that we are not simply investing in people we can't put faces to."

He added, “Business does not exist in a vacuum. What happens on this planet affects business and people, and there is a reciprocal relationship between business and society. If society is not healthy, then business will be affected. We cannot exist alone. We have to tackle our society’s challenges together.”

One of the bursary recipients, Ms Thamaga, thanked Absa on behalf of all the bursary students. She said, “Having met other bursary recipients, I realise what impact this opportunity has not only for us to obtain our degrees, but for us achieving our goals and dreams." She hopes to increase the participation of women in sport through her love of sport and television.