For thousands of potential students, one of the biggest barriers to success is a lack of funding. Now, thanks to a financial injection of R2.3 million from the Banking Sector Education and Training Authority (BANKSETA), the doors to higher education is wide open for 20 talented students in Stellenbosch University's (SU) Faculty of Economic and Management Sciences (EMS).
BANKSETA is a statutory body established through the Skills Development Act of 1998 to enable its stakeholders to advance the national and global position of the banking and microfinance sector. As guided by its mandate, the BANKSETA is an agent of transformation and promotes employment equity and Broad-Based Black Economic Empowerment through skills development.
It awarded a total of R2.3m to the EMS Faculty's Project Zero Initiative, which aims to reduce to zero the actual cost of studying at SU.
Project Zero was launched in 2015, with the first cohort of recipients starting their undergraduate journey in January 2016. These bursaries are offered based on a combination of academic merit and financial need of students and are available only to coloured, black and Indian students. Students must be South African citizens.
"The aim of Project Zero bursaries is to ensure that students – all of whom meet the academic requirements for entry onto their chosen courses – are given full financial support over their undergraduate degrees. By offering bursaries to these talented students, the Faculty ensures that it attracts the best students, thereby retaining the University’s commitment to excellence," says Prof Ronel du Preez, the Faculty's Vice-Dean: Learning and Teaching.
Du Preez says they also make sure that the bursary recipients are not set up for failure. "The academic progress of the Project Zero candidates is monitored very closely and students are supported with tailored interventions where needed to ensure that they complete their studies successfully."
According to Mr Similo Dlamini, Manager of Work Intergrated Learning at BANKSETA, this grant, in turn, enables them to fulfil their mandate of supporting skills development and transformation in the broader banking and microfinance sector, supporting people development through partnerships, skills development, alleviating unemployment, enabling change and thereby creating a brighter future.
- Photo: BANKSETA partnering for access with Stellenbosch University: (from l-r) Cheryl Benadie (SU Donor Relations Manager), Ilze Gelderblom (Coordinator: Student Affairs, EMS), Similo Dlamini (Manager: Work Integrated Learning, BANKSETA), Stephny-Aan Roché (Project Zero Bursary Recipient), Levern Fortuin (Project Zero Bursary Recipient), Jill Sloan (SU Proposal Developer) and MJ Brooks (Director: Faculty Management, EMS) (Photographer: Hennie Rudman)
