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Friday, 21 July 2017

Absa Bank donates R8 million towards student funding

Caption: CPUT Acting Vice-Chancellor with Absa Bank’s Africa Head of Citizenship Sazini Mojapelo Caption: CPUT Acting Vice-Chancellor with Absa Bank’s Africa Head of Citizenship Sazini Mojapelo Robin Thynsma

Today CPUT Acting Vice-Chancellor Dr John Volmink accepted an R8 million donation from Absa Bank toward student funding.

Using a combination of academic performance and financial need CPUT’s Financial Aid office has identified 267 qualifying students and will disburse the funds after a verification process has been completed. Many of the qualifying students either have very limited financial resources or fall within the “missing middle” category of students whose parents or guardians can only afford to pay a portion of the required university fees.

Volmink says the donation does not just affect the lucky students but their extended families as well.
“You must take the students you are helping then multiply it by thousands because you are creating thousands of opportunities and in fact you will never really be able to calculate the true cost because what Absa is doing is helping to break the cycle of poverty,” he says.   
“CPUT attracts rural, economically challenged students who are bright. These students desire the same things that other more affluent students want but what they need most is support both emotionally and financially. That is what you are doing here today.”

The donation forms part of Barclays Africa Group’s 2017 CEO Scholarship Fund which aims to disburse R210 million which will impact around 3 000 university students across the continent. Absa Africa Head of Citizenship Sazini Mojapelo says The CEO Scholarship Fund grew exponentially since its inception in 2016 when it was only expected to affect around 200 students.
“When we saw the Fees Must Fall movement we realised that as a large corporate it was important to answer the call to action. We increased the scholarship programme from 200 to 2000 students and this year we expanded it to 3000 across the continent,” she says.

In 2017 the fund expanded to include the peer to peer mentoring programme Elevate Education which, through a series of workshops, equips students with the skills to not only survive university but to thrive too.

Written by Lauren Kansley

Tel: +27 21 953 8646
Email: kansleyl@cput.ac.za

Liaises with the media and writes press releases about interesting developments at CPUT.