In the wake of the ongoing Fees Must Fall campaign, Absa Bank made a R6.6 million donation to the Tshwane University of Technology’s (TUT) Bursary and Scholarship Fund aiming to support deserving students who struggle to pay fees.
The announcement, which was made by Absa’s Head of Public Sector Steven Seaka earlier this week, celebrated and honoured the first 200 founding donors of the fund.
“Investment in knowledge pays the best interest and we have a mandate to invest in education and skills development in order to improve the lives of young people in South Africa,” Seaka said.
The TUT Bursary and Scholarship Fund is a strategic project aimed at assisting students to access and complete their studies within their institution.
90% of TUT students are dependent on the National Student Financial Aid Scheme (NSFAS) or fall under the ‘missing middle’ group.
Speaking at the event, Higher Education Deputy Minister Mduduzi Manana thanked fellow contributors of the fund and encouraged them to continue investing in education.
“I am proud that we have come to the fore, contributing to the education of an African child. This is a long-term initiative and it is much more than a donation, it is our legacy,” Manana said.
The TUT Bursary and Scholarship Fund also offers members of the TUT community, including council members, management, staff members and alumni the opportunity to provide financial support through a programme of individual giving