By Staff Reporter (3 mins read)
The South African Reserve Bank, as part of addressing the severe shortage of skills in South Africa, provides bursaries to students who are from disadvantaged backgrounds and in relevant fields of study.
The purpose of the bursary scheme is to assist financially needy students who obtain good results in Matric/Grade 12 and want to study in fields relevant to the Bank.
The bursary is intended for undergraduate studies at a South African university on a full-time basis.
Studies for which bursaries will be granted
The studies that students intend to pursue shall have a bearing on, and be applicable to, the functions and activities of the Bank. (For more information about the Bank, visit its website.)
They include, for example, …
- Actuarial Sciences
- Mathematical Statistics
- Information Technology
They exclude, for instance, …
- Social Work
A bursary will be granted from the first academic year and reviewed annually. Bursary holders need not to reapply for the bursary each year. The total number of students and related bursary costs will be reviewed annually.
The Bank will provide students, who are Bank bursary holders, with vacation work opportunities that are funded by the Bank.
Criteria for awarding bursaries
Over and above the criteria set out in paragraphs 1 to 3, 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. Bursary holders will be obliged to work for the Bank after completion of their studies, unless the Bank chooses not to employ them.
For students who choose not to work for the Bank despite the Bank offering them a position after completing their studies, they will be required to pay the full cost of the bursary back to the Bank.
How to apply
The closing date for submission of applications shall be 30th September of each year.
Examination results, university enrolment form, student number and any other supporting documents must be submitted with the application form.
Access the application here.
Application to be posted to:
Mr John Legoete
P.O. Box 30632
Fax: 086 609 7183
Access this link for the online application. Please use the following promotional code: SARB2020
Submission of examination results by bursary holders
Bursary holders will be required to submit their examination results before 31st December of each year, regardless of whether or not they will be awarded a bursary for the following year.
Potential bursary students will be required to avail themselves to be interviewed and tested. Successful applicants(s) for the bursary will be expected to sign an agreement with the Bank. TOJ
Feature image obtained from Pixabay.