Imfundo Trust, is a scholarship initiative of the Old Mutual Investment Group (OMIG) that aims to address the shortage of black investment professionals and grow the pool of suitably qualified individuals in the asset management industry.
The Imfundo Trust (“Imfundo” means “education” in Zulu), has spent approximately R4m per annum on university scholarships since its inception in 2011. It focussed on assisting deserving black students – with a special focus on women – to acquire tertiary training at selected top South African universities. We have between 30 and 40 beneficiaries on the programme per annum.
Since the Imfundo Trust was launched in 2011, we’ve been able to help and empower many young South Africans. Between 2013 and 2015, 62 students have graduated as professionals, across 11 universities and currently have 31 students working towards the completion of their degrees in the following fields of study: Finance, Law, Accounting, Economics, Mathematics, Engineering and Agriculture.
Statistics and Milestones
A total of +/- R20 million has been spent over the 5 year period namely 2011 to 2015.
These students pursued degrees across various disciplines.
The OMIG Imfundo Trust scholarships provide funding to study on a full-time basis for a first-time undergraduate degree/diploma (including BTech) at an accredited University Institutions in South Africa.
THE SCHOLARSHIP COVERS:
• Registration and tuition fees, for students studying on a full time basis
• Prescribed books and other approved study materials.
• Approved accommodation
• Meals and a small stipend
Student support is provided for all of our students, in the form of our service providers, StudyTrust. Support is also given to final year students who are required to find work experience in their line of study.
HOW ARE THE SCHOLARSHIPS AWARDED?
The main criteria considered for the scholarships are:
• Academic excellence: Selection will be done on the basis of Grade 11 final results, Grade 12 June results and Grade 12 preliminary results
• The minimum requirements are: A 70% average and not less than 70% for Mathematics, and 70% for English FAL (or 60% for English HL).
• The Imfundo Trust Programme is for candidates whose parent(s) or guardian(s) would not be able to afford paying their tertiary fees
• Learners from rural and township backgrounds will be given preference
• Hard working learners who are able to demonstrate that they are more likely to succeed in tertiary study
• At least 50% of candidates should be black female
The scholarships are awarded primarily on the basis of academic ability and the financial needs of the applicant. Interviews are conducted with applicants who meet the shortlisted requirements, and the Board of Trustees will consider any other relevant factors when making the final decision on granting the scholarships.
The Imfundo Trust reserves the right to adjust or withdraw any scholarship amount that may be awarded in terms of this application, should you be a beneficiary of other financial assistance (e.g. bursary, grants, loans, scholarships, awards, etc).
The main requirement is that the student pass each academic year in order to qualify for their subsequent year of study. Students who are awarded the scholarship do not need to pay back the scholarship. Upon completion of their studies, students are not obligated to join Old Mutual Investment Group.
The courses covered by the scholarship are those that will be applicable to careers within the investments industry, namely:
• Business, Commerce, Finance and Management Sciences/Studies
• Computer Science and Data Processing
• Mathematical Sciences
As our investments business has expanded into Agri-funds, infrastructure and renewable energy we are also accepting degrees of study in the fields of
• Agricultural Studies
• Engineering and Engineering Technology
HOW CAN CANDIDATES APPLY
Applications need to be submitted electronically onto the StudyTrust website at this link.