Closing Date: 30th September 2023
Great news! Application calls for the 2024 South African Reserve Bank Bursary Scheme
Applications for the South African Reserve Bank External Bursary Scheme are available to suitably qualified candidates who are South African nationals and are eligible for the 2024 South African Reserve Bank External Bursary (SARB) Scheme, aimed at supporting academically motivated students to complete their education.
South African Reserve Bank External Bursary Scheme
The South African Reserve Bank, as part of addressing the severe shortage of skills in South Africa, provides bursaries to students in relevant fields of study who are from underprivileged backgrounds. In support of the corporate social initiatives of the Bank and the Bank’s External Bursary Scheme, a number of external bursaries are made available annually to needy qualifying Grade 12 pupils (external bursars) to embark on full-time studies.
Studies for which the South African Reserve Bank External Bursary Scheme will be granted
The studies that students intend to pursue will have a bearing on, but not be limited to, the functions and activities of the bank. This includes economics, actuarial sciences, mathematical statistics, information technology, finance, law, and accounting, but also includes, for example, medicine, dentistry, and social work. (For more information on the bank, visit the Bank’s website: www.resbank.co.za.)
A South African Reserve Bank External Bursary Scheme will be granted in the first academic year and reviewed annually. Bursary holders need not reapply for the bursary each year. The total number of students and related bursary costs will be reviewed annually.
How to apply for the South African Reserve Bank External Bursary Scheme
To apply for this scholarship scheme, applicants must first submit the following :
Document needed at South African Reserve Bank
Applicants who are currently in matric a certified copy of your June matric results Applicants who have completed matriculation:
A certified copy of your final matric results
Proof of acceptance at a recognized tertiary institution
An essay of 250 words to motivate your application
A certified copy of your South African identity document (ID)
The closing date for submission of applications shall be September 30 of each year.
Examination results, proof of acceptance at a recognized institution (student number), and any other supporting documents must be submitted with the South African Reserve Bank External Bursary Scheme application form.
Selection Criteria for the South African Reserve Bank External Bursary Scheme
Must be a South African citizen
Must be younger than 30 years old
Must have achieved an average pass mark of 70% in your current year of study
Must be in financial need (unable to afford to attend university without a bursary)
INSTRUCTIONS FOR THE SUBMISSION OF APPLICATION FORMS
The South African Reserve Bank (SARB) will only consider your South African Reserve Bank External Bursary Scheme application if you have completed the form in full and if the items mentioned below, as and where applicable, have been included with your application.
Application to be posted to:
Mr. John Legoete
P.O. Box 30632
Fax: 086 609 7183
Email: [email protected]
Online Applications for South African Reserve Bank External Bursary Scheme:
Please use the promotional code as per the application form.
Submission of examination results by bursary holders
South African Reserve Bank External Bursary Scheme holders will be required to submit their examination results before December 31 of each year, regardless of whether or not they will be awarded a bursary for the following year. Existing bursars must successfully complete the academic year to be eligible for further funding.
Bursary Agreement for South African Reserve Bank External Bursary Scheme
Potential external bursars will be required to avail themselves of the opportunity to be interviewed. Successful applicants for the bursary will be expected to sign an agreement with the bank.
Students who have bank bursaries will be able to work during their summer vacations thanks to the bank’s funding.
Criteria for awarding South African Reserve Bank External Bursary Scheme
Over and above the criteria set out in paragraphs 1 to 3 above, the following will be used as guidelines in the awarding of bursaries:
- The South African Reserve Bank External Bursary Scheme will be awarded to qualifying bursary applicants who obtained an average of at least 70 percent in the June Matric/Grade 12 examinations with final awarding subject to final results and enrolment acceptance at a South African university.
- The South African Reserve Bank External Bursary Scheme will be awarded to South African citizens only.
- Only students who do not have the financial means of attending university would be considered for a bursary.