Here is a list of scholarships offered by South Africa’s largest banks

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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.

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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.

Standard Sofa
Program Standard Bank Exchange Fund
Coverage all inclusive
Extras
  • Medical assistance
  • Mentorship and psychological support
  • Transport between home and campus four times a year at the cost of a bus ticket
Areas of Interest Bachelor or postgraduate in:

  • Accountancy
  • Actuarial Sciences
  • Analytics
  • trade
  • Computer and data science
  • economic
  • Engineering
  • Finance
  • THE
  • investments
  • Math
  • Statistics
dates Scholarship Applications Open: April – September 30, 2022
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FirstEdge
Program Laurie Dippenaar Scholarship
Coverage R925 000
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.


absa
Program Absa Fellowship Program
Coverage all inclusive
Extras
  • Monthly data
  • Leadership Program
  • Online masterclasses
  • academic tutoring
  • Travel costs if applicable
Areas of Interest Bachelors in:

  • Science
  • Technology
  • Engineering
  • creative arts
  • Humanities
  • Math
  • Digital design
dates Applications open December 2022 / January 2023


investec
Program Investec CSI Scholarship
Coverage all inclusive
Extras Job search assistance and access to other scholarships administered by Study Trust.
Areas of Interest Bachelors in:

  • trade
  • business administration
  • Engineering
  • computer technology
  • Information Technology
  • commercial law
  • Medicine
dates Applications for 2023 close on August 31, 2022.

captaincy
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:

  • Quantitative Risk Management
  • Financial management
  • business economics
  • Economical sciences
  • Industrial engineering
  • Applied mathematics
  • computer technology
  • data science
  • THE
  • Statistics
dates Applications closed on July 10, 2022

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