Investing in employees’ future

27 September 2019 | Labour

FirstRand Namibia supports education with bursaries

FirstRand Namibia Assistance Trust has reduced the tertiary financial burden for 38 of its employees by awarding bursaries allowing them to further their studies.

The FirstRand Namibia Staff Assistance Trust recently announced that 38 applicants for the 2019 bursary programme were successful and the trustees approved their tuition for the 2019 academic year.

The bank uses annual dividends to assist previously disadvantaged non-managerial staff with their educational and medical needs.

The bursary is limited to a maximum amount of N$40 000 per student. All students are further entitled to an amount of N$10 000 for books and related study material.

“We are delighted with our choice of FNB employees who will further their studies,” says Nelago Ashipala, the group company secretary.

“Our employees are looking forward to pursuing a variety of diplomas and degrees ranging from business administration to business management, industrial psychology, human resources, law, marketing management, banking, credit and finance and accounting. We are proud of our recipients and wish them well with their studies.”

Applicants must be enrolled at a recognised NQF tertiary institution. Application is limited to undergraduate studies. The bursary is awarded primarily based on academic ability and the financial needs of the applicants. The Trust can consider any other relevant factors in making the final decision in granting the award.

Employees of FNB have expressed their gratitude to the bank for the financial assistance they have received. Andy Gaoseb, an external lifestyle consultant who is currently a second-year student at Unam in the field of accounting and auditing, said the bursary was the reason he could start his tertiary education. “I am very grateful and this would not have been possible without it.”

Tjimbi Kaeka, a financial crime risk analyst, said the bursary would enable him to cover the costs of his studies. “The funding from FNB couldn’t have come at a better time. The bursary has come as great help for me to stay away from worries of my education expense and focus on my studies.”

The FNB Staff Assistance Trust was established in 2008 with the aim of assisting previously disadvantaged non-managerial employees within the FirstRand Namibia Ltd Group and its subsidiary companies.

Regulatory risk analyst Barry-John Beukes felt privileged to be a recipient of an FNB bursary. “I am honoured to be a recipient of the bursary offered by the FirstRand Staff Assistance Trust. Since being named one of the recipients of the bursary, my dream is becoming a reality. The bursary reduced my financial burden, which allowed me to focus on my studies and not to worry about how I am going to pay for school.”

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