The South African Reserve Bank (SARB) is offering a number of bursaries to address the severe shortage of skills in South Africa.
The purpose of the bursary scheme is to assist financially needy students who obtain good results in matric/Grade 12 and who want to study in fields relevant to the bank, the SARB said.
It added that the bursaries are intended for undergraduate studies at a South African university on a full-time basis.
The SARB said that the studies that students intend to pursue should have a bearing on, and be applicable to, the functions and activities of the bank.
- Actuarial Sciences;
- Mathematical Statistics;
- Information Technology;
“A bursary will be granted from the first academic year and reviewed annually. Bursary holders need not reapply for the bursary each year. The total number of students and related bursary costs will be reviewed annually.
“The SARB will provide students who are Bank bursary holders, vacation work opportunities that are funded by the bank.”
The SARB said that over and above the criteria around subjects, the following will be used as guidelines in the awarding of bursaries:
- Bursaries will be awarded to students who obtain 70% in the June Matric/Grade 12 examinations with final awarding subject to final results and enrolment acceptance at a South African university;
- Bursaries will be awarded to South African citizens only;
- Only students who would not have the means of attending university, had it not been for a bursary, would be considered.
“The bank will have first right of refusal with regard to funded students, that is, bursary holders will be obliged to work for the bank after completion of their studies, unless the bank chooses not to employ them,” it said.
“Students who choose not to work for the bank despite the bank offering them a position after completing their studies will be required to pay the full cost of the bursary back to the bank.”
You can read more about the application process here.