The Faculty of Economic and Management Sciences' Project Zero initiative has received financial support to the tune of R6.2 million from the Banking Sector Education and Training Authority (BANKSETA).

This is the second such investment from BANKSETA, after an initial R2.3 million was awarded in 2017. The 2017 investment opened the doors of higher education for 20 talented students and in 2018 a total of 40 students will benefit.

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 broader banking and micro-finance industry. As guided by its mandate, BANKSETA promotes employment equity and broad-based black economic empowerment through skills development and supports people development through partnerships, skills development, alleviating unemployment, creating a brighter future and enabling change.

The Project Zero initiative is aimed at reducing the cost of studying at SU to zero for talented students. Project Zero bursaries, along with the University's recruitment and merit bursaries, cover the student's full university account. Based on academic merit, the bursary is offered to black, coloured and Indian (BCI) students, half of whom come from communities with the lowest socio-economic status. Only top academic performers qualify and the faculty collaborates closely with projects such as Rachel's Angels, a mentorship programme in 25 partner schools, in order to identify potential recipients. The first cohort of Project Zero bursary recipients started their undergraduate journey in January 2016.

"Stellenbosch University was successfully granted R 5 844 120 00 for the funding support of 40 beneficiaries matching Project Zero selection criteria," said Mr Similo Dlamini, Manager of Work Intergrated Learning at BANKSETA. 

A further R 292 206 00 was awarded to make sure that SU is able to provide the ideal support. "The support programme offered by Project Zero does not only deal with the funding needs, but also provides academic, career development, leadership, mentoring, life skills training, orientation/reflection sessions and psycho – social support that may be required by students. To support Stellenbosch University in this regard, BANKSETA released additional funds towards administrative costs," Dlamini explained.

On the web:

• BANKSETA: https://www.bankseta.org.za/
• Faculty of Economic & Management Sciences http://www.sun.ac.za/english/faculty/economy/Pages/default.aspx