This is the second Project Zero investment by BANKSETA after an initial R2,3 million was awarded in 2017. The 2017 investment provided 20 talented students with access to higher education, 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 and the alleviation of unemployment, creating a brighter future and enabling change.

The Project Zero initiative, in turn, is aimed at reducing the cost of studying at Stellenbosch University (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 academic top performers qualify. The Faculty collaborates closely with projects such as Rachel’s Angels, a mentorship programme in 25 partner schools, to identify potential recipients. The first cohort of Project Zero bursary recipients started their undergraduate journey in January 2016.

According to Mr Similo Dlamini, Manager: Work-Integrated Learning at BANKSETA, SU has been granted R5 844 120 to help fund 40 beneficiaries matching Project Zero selection criteria, while another R292 206 has been made available to ensure that SU is able to provide the required support. “The support programme offered by Project Zero does not cover funding needs only, but also provides the academic, career development, leadership, mentor, life skills, orientation and psycho-social support that students may require. To support Stellenbosch University in this regard, BANKSETA has released additional funds towards administrative costs,” Dlamini explains.

On the web:
• BANKSETA
• Faculty of Economic and Management Sciences