The South African Reserve Bank (the Bank), as part of addressing the severe shortage of skills in South Africa, provides bursaries to students in relevant fields of study who are from disadvantaged backgrounds.
1. Purpose of the bursary scheme
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 bursary is intended for undergraduate studies at a South African university on a full-time basis.
2. 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 on the Bank, visit the Bank’s website: www.reservebank.co.za ).
This includes, for example, Economics, Information Technology, Finance, Law and Accounting, and excludes, for example, Medicine, Dentistry and Social Work.
A bursary will be granted from the first academic year and reviewed annually
Bursary holders need not reapply for the bursary each year.
3. Criteria for awarding bursaries
Over and above the criteria set out in paragraphs 1 to 3 above, the following will be used as guidelines in the awarding of bursaries:
· Bursaries will be awarded to students who obtain 60 per cent in the June Matric/Grade 12 examinations. Final awarding of a Bank bursary is subject to a student’s final Matric/Grade 12 results and enrolment acceptance at a South African university.
· Bursaries will be awarded to South African citizens only.
· The total number of students and related bursary costs will be reviewed annually.
· An annual one-off payment for books, accommodation (university accommodation only) and tuition fees will be made to a student.
4. Post-bursary obligations
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 for a period equal to their bursary period, unless the Bank chooses not to employ them.
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.
The Bank will provide students who are Bank bursary holders vacation work opportunities that are funded by the Bank.
5. How to apply
The closing date for submission of applications shall be 30 September of each year.
Examination results, university enrolment form (student number) and any other supporting documents must be submitted with the application form.