Here is a list of bursaries offered by South Africa’s biggest banks

Capitec chief executive, Gerrie Fourie recently described the local hiring market as a ‘war of talent’ with businesses struggling to hire from a limited talent pool.

Fourie said that this is most keenly felt in highly-technical professions such as data science and IT workers.

“This is being fueled by people saying they are now working from home and overseas. It’s quite easy to work in London but you actually sit in South Africa, so I think there will be quite a war for talent,” he said.

South Africa’s banking sector is desperate for a number of tech-related roles, according to the Department of Communications and Digital Technologies.

The government has identified a big gap in cybersecurity skills and is currently working with other entities within departments to try and plug it.

The good news is that many of the country’s large banks provide Bursary Programme to aid  ‘financially restricted’ students, and bolster the country’s skilled workforce.

The South African Reserve Bank , as part of addressing the severe shortage of skills in the country provides bursaries to students in relevant fields of study who are from disadvantaged backgrounds.  The last date to apply for a bursary is 30 September 2022, with additional details here.

Legacy banks often provide programmes to filter educated graduates into their companies. In many cases by paying for a student to attend university a company as a result gains a valuable employee once the period of study has been completed.

BusinessTech looked at some of South Africa’s largest banks and what they offer students, with some bursaries closing at the end of the month for 2023.


Note: ‘All-inclusive’ for purposes of the below table refers to programmes that cover: full tuition, accommodation, textbooks, a laptop, meal allowance and a monthly stipend.

Standard Bank
Programme Standard Bank Bursary Fund
Coverage All-inclusive
Extras
  • Medical aid
  • Mentoring and psychological support
  • Transportation between home and campus four times a year at the cost of a bus ticket
Fields of interest Undergraduate or postgraduate in:

  • Accounting
  • Actuarial science
  • Analytics
  • Commerce
  • Computer and data science
  • Economic
  • Engineering
  • Finance
  • IT
  • Investments
  • Mathematics
  • Statistics
Dates Bursary applications open: April – 30 September 2022

FirstRand
Programme Laurie Dippenaar Scholarship
Coverage R925 000
Extras Personal interest by Laurie Dippenaar in each selection and the ongoing progress of recipients.
Fields of interest Any discipline at an international university of the recipient’s choice.
Dates Applications for 2023 are likely to open in December

FirstRand offers further scholarships for international postgraduate study with similar coverage of R925,000, further information can be found here.


Absa
Programme Absa Fellowship Programme
Coverage All-inclusive
Extras
  • Monthly data
  • Leadership Programme
  • Online masterclasses
  • Academic tutoring
  • Travel fees where applicable
Fields of interest Undergraduate in:

  • Science
  • Technology
  • Engineering
  • Creative Arts
  • Humanities
  • Mathematics
  • Digital Design
Dates Applications will open December 2022/ January 2023

Nedbank
Programme The Nedbank External Bursary Programme
Coverage All-inclusive
Extras N/A
Fields of interest Any field if the applicant fulfils financial eligibility requirements
Dates Applications for 2023 close 31 July 2022.

Investec
Programme Investec CSI Bursary
Coverage All-inclusive
Extras Assistance with job search and access to other bursaries managed by Study Trust.
Fields of interest Undergraduate in:

  • Commerce
  • Business science
  • Engineering
  • Computer science
  • Information technology
  • Commercial law
  • Medicine
Dates Applications for 2023 close 31 August 2022.

Capitec
Programme Capitec Bank Bursary Programme 
Coverage Information not provided
Extras Upon completion of studies, Capitec Bank bursary holders will be required to work for Capitec Bank for an equal length of the bursary duration.
Fields of interest Studying towards undergraduate and/or post-graduate degree in:

  • Quantitative risk management
  • Financial management
  • Business economics
  • Economic science
  • Industrial engineering
  • Applied mathematics
  • Computer science
  • Data science
  • IT
  • Statistics
Dates Applications closed on 10 July 2022

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Here is a list of bursaries offered by South Africa’s biggest banks