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

Through | July 28, 2022

Capitec CEO Gerrie Fourie recently described the local hiring 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 desperately seeking some tech-related roles, according to the Department 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, with additional details 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.

Default banking programStandard Bank Exchange FundCoverageAll InclusiveExtrasMedical AidMentoring and Psychological SupportTransportation between home and campus four times a year at the cost of a bus ticketFields of InterestUndergraduate or Postgraduate in:AccountingActuarial ScienceAnalyticsCommerceComputer Science and Data ScienceEconomicEngineeringFinanceITInvestmentMathematicsStatisticsOpen Dates April 1st – September 30thLaurie Dippenaar ScholarshipCoverageR925 000ExtrasPersonal interest by Laurie Dippenaar with each selection and recipients’ ongoing progression.Areas of InterestAny discipline at an international university of the recipient’s choice.DatesApplicants for 2023 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 ProgramAbsa Fellowship ProgramCoverageAll InclusiveExtrasMonthly DetailsLeadership ProgramOnline MasterclassesAcademic GuidanceTravel if applicableFields of InterestUndergraduate in:ScienceTechnologyEngineeringCreative ArtsHumanitiesMathematicsDigital DesignDatesApplications open December 2022/January 2023 NedbankProgramNedbank’s external scholarship programCoverageAll-inclusiveExtrasN/AAreas of InterestAny field if applicant meets financial eligibility requirementsDatesApplications for 2023 close on July 31, 2022. InvestecProgrammeInvestec CSI ScholarshipCoverageAll-inclusiveExtras Job search assistance and access to other scholarships administered by Study confidence.Fields of InterestUndergraduate in:CommerceBusiness ScienceEngineeringComputer ScienceInformation TechnologyCommercial LawMedicineDatesApplications for 2023Close August 31, 2022. CapitecProgramCapitec Bank Scholarship Program Coverage Data not provided Extras Upon completion of studies, Capitec Bank scholarship holders must work for Capitec Bank for the same duration of the scholarship. Areas of Interest Studying an undergraduate and/or postgraduate degree in: Quantitative Risk Management Financial Management Business EconomicsEconomic ScienceIndustrial EngineeringApplied MathematicsComputer ScienceData ScienceJuly 20ITStatisticsApplications Closed

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