The Old Mutual Investment Group’s Imfundo Trust Scholarship represents a cornerstone effort to transform and enrich the investments industry by providing educational opportunities to black South African students, with a particular focus on empowering women. The name ‘Imfundo’, which translates to ‘education’ in Nguni, perfectly encapsulates the mission of this initiative.
Established in 2011, the Trust has been pivotal in facilitating tertiary education for numerous students across South Africa.
What the Scholarship Covers
The Imfundo Trust Scholarships provide extensive financial assistance for students enrolled in full-time undergraduate and selected postgraduate degree programs at specific South African universities. The coverage includes:
- Tuition Fees: Full coverage of tuition costs, ensuring that students can attend without the burden of educational expenses.
- Books and Academic Materials: Allowances for textbooks and other essential academic resources to aid in the educational process.
- Accommodation: Support for housing, whether on-campus or off-campus, to ensure a safe and stable living environment.
- Additional Academic Resources: Potential financial assistance for other necessary academic resources, depending on individual needs and circumstances, to facilitate a comprehensive educational experience.
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Selection Criteria
The Imfundo Trust Scholarship is designed to identify and support students who not only excel academically but also show a strong interest in fields pivotal to the development of the investment sector and related industries. The criteria for selection include:
- Academic Achievement:
- Grade 12 Students: Applicants must have achieved a minimum average of 70% in their mid-year examinations, with at least 70% in both Mathematics and English First Additional Language (FAL) or 60% in English Home Language (HL).
- University Students: Current university students applying for the scholarship should have maintained an average of 65% or higher in their most recent examinations (mid-year or June exams).
- Field of Study:
- The scholarship is available for studies in key areas that are integral to the financial and technological advancement of the investment industry. Eligible fields of study include:
- Business and Commerce
- Finance
- Management Sciences and Studies
- Computer Science and related areas (such as Computational Thinking)
- Data Science
- Climate Studies (at the postgraduate level)
- Engineering
- The scholarship is available for studies in key areas that are integral to the financial and technological advancement of the investment industry. Eligible fields of study include:
- Preference for Underrepresented Communities:
- Special consideration is granted to applicants originating from rural and township areas. This focus supports the Trust’s commitment to promoting inclusivity and diversity within the investment industry, ensuring that talented individuals from all backgrounds have the opportunity to contribute to and benefit from the sector’s growth.
- Personal Motivation and Sector Interest:
- Candidates need to demonstrate a clear interest and potential commitment to the investment industry or their specific field of study. This might be evidenced through personal statements, previous internships, related projects, or academic choices.
- Leadership and Community Engagement:
- Prospective scholars are evaluated on their leadership qualities and their involvement in community activities. The Trust values candidates who show promise as future leaders and who are active participants in community development, reflecting the values and mission of the Old Mutual Investment Group.
Application Process
- Applications for the Imfundo Trust Scholarship must be submitted through the StudyTrust’s online platform.
- The application window opens on May 1st and closes on October 10th annually.
The Importance of the Imfundo Trust Scholarship
Investing in education is one of the most effective ways to empower individuals and promote socioeconomic development. The Imfundo Trust Scholarship does exactly that, by opening doors to higher education for students who might otherwise be unable to afford it.
By focusing on the investments industry, the Trust not only aids individual students but also contributes to the broader goal of industry transformation and increased representation of black professionals, particularly women, in finance and related fields.
The Old Mutual Investment Group Imfundo Trust Scholarship is more than just a financial aid program—it is a beacon of hope and a testament to the power of education. As we look to the future, initiatives like the Imfundo Trust Scholarship will be crucial in shaping an inclusive, diverse, and skilled workforce ready to tackle the challenges of the modern world.