ABSA CEO Scholarship Fund Handover Ceremony

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The CEO Scholarship Fund forms part of the Education and Skills Development pillar of Barclays Africa’s Shared Growth strategy through which it has undertaken to invest R1.4bn in education and skills training between 2016 and 2018. Education and Skills Development, Enterprise Development and Financial Inclusion are the three pillars of Shared Growth, which aims to create shared value for communities and stakeholders.


In a prestigious event attended by Faculty Deans, SRC and senior management of the University Of Fort Hare; the university in partnership with ABSA bank hosted a handover ceremony on Monday, 30 October 2017 at Miriam Makeba ECAVAC hall in the East London Campus.


The sponsorship of R4 650 000 benefited 60 students who have are from the “Missing Middle” category, and has academically excelled in various academic disciplines. In his welcoming address, the Vice Chancellor Professor Sakhela Buhlungu applauded ABSA for having seen an opportunity to give a helping hand where it is mostly needed. He further encouraged students to play their role to perform excellently academically so as to keep the bursary alive.


“Sponsors will always be discouraged to be associated with an institution that is characterised with acts of violence and burning of university properties”. Mr Andy de la Mare from ABSA mentioned that as ABSA they have a greater role to play in the societal development through ploughing back to the university. Quoting Nelson Mandela, de la Mare said, “No country can really develop unless the citizens are educated.” He also mentioned that ABSA developed a share growth approach, they looked at education and skills development.  


At the height of the Fees Must Fall, ABSA felt a need to respond to society and lend a helping hand to the university in particular with the ABSA CEO Scholarship Fund. The recipients responded with heartfelt and emotional replies. They shared the experiences they had encountered with funding and they were grateful for the opportunity. Eastern Cape Provincial Manger: Public Sector Banking; Mr Thembi Klaas said they are also committed to provide free banking services and financial management services to students. “This will go a long way to teach you manage your finances responsibly.” 


In his closing remarks, the Deputy Vice Chancellor IS Professor Gilingwe Mayende said that the university is eternally grateful to Absa and wishes to continue with this partnership.