Capitec CEO Gerrie Fourie recently described the local recruiting market as a “war of talent” with companies struggling to hire people from a limited talent pool.
Fourie said this is most felt in high-tech professions such as data science and IT workers.
“This is fueled by people who say they are now working from home and abroad. It’s pretty easy to work in London, but you’re actually in South Africa, so I think there’s going to be quite a battle for talent,” he said.
South Africa’s banking sector is desperate for a number of technology-related positions, according to the Ministry of Communications and Digital Technologies.
The government has identified a major gap in cybersecurity skills and is currently working with other entities within departments to close it.
The good news is that many of the country’s major banks offer scholarship programs to help “financially limited” students and bolster the country’s skilled workforce.
As part of tackling the serious skills shortage in the country, the South African Reserve Bank is offering scholarships to students in relevant fields of study from disadvantaged backgrounds. The last date to apply for a scholarship is September 30, 2022, more details can be found here.
Legacy banks often offer programs to filter educated graduates into their companies. In many cases, by paying for a student to attend college, a company gains a valuable employee at the end of the study period as a result.
BusinessTech looked at some of South Africa’s largest banks and what they offer students, with some exchanges closing at the end of the month for 2023.
Note: “All Inclusive” for the purposes of the table below refers to programs that cover: full tuition, accommodation, textbooks, a laptop, meal allowance and a monthly stipend.
|Program||Standard Bank Exchange Fund|
|Areas of Interest||Bachelor or postgraduate in:
|dates||Scholarship Applications Open: April – September 30, 2022|
|Program||Laurie Dippenaar Scholarship|
|Extras||Laurie Dippenaar’s personal interest in each selection and the recipients’ progress.|
|Areas of Interest||Any discipline at an international university of the recipient’s choice.|
|dates||Applications for 2023 are likely to open in December|
FirstRand is offering further scholarships for international postgraduate study with comparable coverage of R925,000, more information can be found here.
|Program||Absa Fellowship Program|
|Areas of Interest||Bachelors in:
|dates||Applications open December 2022 / January 2023|
|Program||Nedbank’s external scholarship program|
|Areas of Interest||Any field if the applicant meets the financial eligibility requirements|
|dates||Applications for 2023 close on July 31, 2022.|
|Program||Investec CSI Scholarship|
|Extras||Job search assistance and access to other scholarships administered by Study Trust.|
|Areas of Interest||Bachelors in:
|dates||Applications for 2023 close on August 31, 2022.|
|Program||Capitec Bank Scholarship Program|
|Coverage||Information not provided|
|Extras||Upon completion of the studies, holders of a Capitec Bank scholarship must work for Capitec Bank for an equal duration of the scholarship.|
|Areas of Interest||Study towards a bachelor’s and/or postgraduate diploma in:
|dates||Applications closed on July 10, 2022|
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