Old Mutual External Bursary 2024

22:37 Monrovia 0 Comments

The Old Mutual External Bursary Programme is a remarkable initiative aimed at supporting South African students in pursuing their higher education dreams. In this article, we will explore the Old Mutual Bursary Programme, its offerings, and the fields of study it covers, with a specific focus on Actuarial Science and Accounting Sciences. We will delve into the nature of Actuarial Science and Accounting Science degrees, as well as the requirements, benefits, application process, and the closing date.

Old Mutual is a renowned financial services company that has been operating in South Africa for over 175 years. It specializes in providing a wide range of financial solutions, including insurance, investment, and savings products. The company is deeply committed to supporting education and youth empowerment, and the Old Mutual External Bursary Programme is one of the ways it accomplishes this mission.

Fields of Study:

·         Actuarial Science

- 80% for mathematics, mathematical literacy will not be considered

-70% for all other subjects and/or a 60% for English Home Language.

·         Accounting Science

-70% pass for Mathematics

-70% pass for all your other subjects.

Universities students must be enrolled at or plan on enrolling at for Actuarial Science:

·         Stellenbosch University

·         University of Pretoria

·         University of Witwatersrand

·         North-West University

·         University of Free-State

·         University of Cape town

Universities students must be enrolled at or plan on enrolling at for Accounting Science:

·         University of Cape town

·         North-West University

·         University of fort hare

·         Stellenbosch University

·         Nelson Mandela University

·         Rhodes University

·         University of South Africa

·         University of Kwa-Zulu Natal

·         University of Free state

·         University of Johannesburg

·         University of Western Cape

·         University of Pretoria

·         University of Witwatersrand

The Old Mutual Bursary Programme focuses on supporting students pursuing degrees in Actuarial Science and Accounting Sciences. Actuarial Science is a field that combines mathematics, statistics, economics, and finance to analyse and manage risks in various sectors, particularly insurance and finance. Actuaries use their skills to assess the likelihood and financial impact of uncertain events, such as natural disasters or future market trends. An Actuarial Science degree typically spans over four to six years, depending on the university and the country of study.

On the other hand, Accounting Sciences involves the study of financial information and its application in business contexts. Accounting professionals play a crucial role in managing financial records, analysing data, and providing valuable insights for decision-making. An Accounting Science degree generally lasts for three to four years, again depending on the university and the country of study.

Should you be funded by this bursary, you must be prepared to work for Old Mutual After the completion of your studies.

Bursary Programme Requirements:

To be eligible for the Old Mutual External Bursary Programme, applicants must meet the following requirements:

·         Be a South African citizen or permanent resident.

·         Demonstrate academic excellence and possess a strong academic track record.

·         Be in possession of a valid South African ID document and be under 21 years old.

·         Have been accepted or registered at a recognized South African university for a relevant degree in Actuarial Science or Accounting Sciences.

Bursary Programme Offerings and Coverage:

The Old Mutual Bursary Programme offers successful applicants a comprehensive package of financial support, mentorship, and career development opportunities. The bursary covers various expenses, including tuition fees, prescribed textbooks, accommodation, return flight tickets and a monthly allowance to cover living expenses. Additionally, beneficiaries gain access to internship opportunities and mentorship from professionals within Old Mutual, fostering personal and professional growth.

Bursary Programme Duration:

The Old Mutual Bursary Programme is typically awarded for the duration of the recipient's undergraduate degree. Renewal of the bursary each year is contingent upon the student maintaining satisfactory academic performance.

Apart from meeting the basic eligibility criteria, applicants for the Old Mutual Bursary Programme should demonstrate the following skillsets:

·         Strong analytical and problem-solving skills.

·         Excellent mathematical and statistical abilities.

·         Effective communication and interpersonal skills.

·         Attention to detail and a high level of accuracy.

·         Ability to work independently and as part of a team.

Application Process:

To apply for the Old Mutual Bursary Programme, interested individuals must follow these steps: (Its recommended for applicants to have these documents ready)

·         Visit the Old Mutual website or designated online portal for bursary applications. Apply

·         Download and complete the bursary motivation form then complete the online application,

·         Should you be Shortlisted, you will be sent a link to complete psychometric assessments.

Attach all required supporting documents, such as:

·         Academic transcripts or scanned school report cards

·         Proof of registration or acceptance at a recognized South African university

·         Certified copy of South African ID document

·         Motivational letter or personal statement

·         Curriculum Vitae (CV)- must be one page.

·         NBT results

Closing date:

It is vital to submit the application before the specified deadline, applications are set to close on the 31^st of July 2023. Late applications will not be considered.

Shortlisted candidates will be contacted for further assessments, which may include interviews and aptitude tests. Successful applicants will be notified of their bursary awards and provided with guidance on the next steps.

The Old Mutual External Bursary Programme stands as a beacon of hope for South African students aspiring to excel in Actuarial Science and Accounting Sciences. Through its generous financial support and comprehensive development opportunities, the bursary programme empowers individuals to pursue their dreams and contribute to the growth and development of the country's financial sector. By investing in education, Old Mutual reaffirms its commitment to building a brighter future for South Africa, one talented student at a time.

Contact details:

Should you have any queries or questions, contact the Old Mutual Early Careers team by emailing earlycareers@oldmutual.com. Best of luck to all applicants.

Click here for a guide on how to write a compelling motivational letter.

Standard Bank Graduate programme for 2024

14:20 Monrovia 0 Comments

Standard Bank, one of Africa's largest financial institutions, offers exciting opportunities through its Graduate Internship Program for 2024. With a rich history spanning over 150 years, the bank has consistently focused on innovation and excellence in providing a comprehensive range of financial services. It serves individuals, small businesses, large corporations, and institutional clients, catering to their banking, investment, and wealth management needs. This article outlines what Standard Bank is, the objectives of its internships, the duration and stipend provided, the application process, minimum requirements, the benefits of securing an internship, and the closing date. .

Objectives of the Program:

Standard Bank's Graduate Internship Program aims to provide talented and ambitious graduates with practical exposure to the banking industry. The program is designed to equip interns with the necessary skills, knowledge, and experience to jumpstart their careers in the financial sector. Interns are given the opportunity to work on real-world projects, collaborate with experienced professionals, and gain a deeper understanding of the bank's operations and culture.

Duration and Stipend:

The Standard Bank Graduate Internship Program typically lasts for 12 months, offering interns an immersive experience within the organization. Interns receive a competitive stipend for their services, which is designed to support them during their tenure with the bank.

Application Process:

The application process for the Standard Bank Graduate Internship Program involves several steps. Interested candidates need to visit the Standard Bank career portal, where they can find the specific internship opportunities available. They must submit an online application, which typically includes a detailed resume, academic transcripts, and a cover letter highlighting their motivations and suitability for the internship.

After the initial screening, shortlisted candidates may be invited for interviews, which can be conducted in person, through video conferencing, or via telephone. The selection process is rigorous, with an emphasis on identifying candidates who demonstrate passion, drive, and potential to contribute effectively to the bank's objectives.

Minimum Requirements:

While specific requirements may vary for different internship roles, there are generally some minimum qualifications and attributes expected from applicants. These may include:

·         A completed undergraduate degree or postgraduate qualification in a relevant field.

·         Strong academic performance, as evidenced by academic transcripts.

·         Excellent communication and interpersonal skills.

·         Analytical thinking and problem-solving abilities.

·         Leadership potential and the ability to work effectively in a team.

Recommended Fields/Qualifications:

Standard Bank encourages applications from candidates with diverse academic backgrounds. While the specific fields/qualifications may vary depending on the available internship opportunities, the following areas are often advised to apply:

·         Finance: Degrees in finance, accounting, economics, or related fields are relevant for various roles within the bank's finance and investment divisions.

·         Information Technology: Qualifications in computer science, information technology, or related fields are valuable for internships in technology-driven roles, such as software development, data analytics, and cybersecurity.

·         Business Administration: Degrees in business administration, management, or related fields are applicable for internships in various business units, including marketing, strategy, and project management.

·         Risk Management: Qualifications in risk management, actuarial science, or related fields are sought after for internships in risk assessment, compliance, and financial modeling.

·         Marketing and Communications: Degrees in marketing, communications, or related fields are relevant for internships in brand management, digital marketing, and corporate communications.

When applying for the Standard Bank Graduate Internship Program, there are several key characteristics that an applicant should possess. While specific requirements may vary for different internship roles, the following qualities are generally valued by Standard Bank:

·         Strong Academic Background: Standard Bank seeks candidates with a solid academic foundation. Demonstrating excellent academic performance, as evidenced by high grades and academic transcripts, showcases your ability to acquire and apply knowledge effectively.

·         Passion and Drive: Displaying genuine enthusiasm and a strong desire to excel in the banking industry is crucial. Standard Bank looks for applicants who are motivated, proactive, and eager to learn and contribute.

·         Analytical and Problem-Solving Skills: The ability to think critically, analyze complex situations, and propose innovative solutions is highly valued. Standard Bank seeks candidates who can approach challenges with a logical and strategic mindset.

·         Excellent Communication and Interpersonal Skills: Effective communication, both written and verbal, is essential for collaborating with team members and stakeholders. Strong interpersonal skills, including the ability to build relationships and work well in diverse teams, are also important.

·         Adaptability and Flexibility: Standard Bank operates in a dynamic and evolving industry. Applicants should demonstrate adaptability, the willingness to embrace change, and the ability to thrive in a fast-paced environment.

·         Leadership Potential: While internships are learning opportunities, Standard Bank values candidates who exhibit leadership potential. This includes taking initiative, displaying a sense of responsibility, and demonstrating the ability to motivate and inspire others.

·         Ethical and Professional Conduct: Integrity, ethical behavior, and professionalism are fundamental values within Standard Bank. Applicants should exhibit a strong sense of ethics, honesty, and a commitment to upholding the highest standards of professionalism.

·         Cultural Awareness and Diversity: Standard Bank operates in diverse markets across Africa. Having cultural awareness, an appreciation for diversity, and the ability to work effectively with people from different backgrounds and perspectives is essential.

It is important to note that while possessing these characteristics can enhance an applicant's chances, each internship role may have specific requirements and preferences. Therefore, applicants should carefully review the internship descriptions and tailor their applications to highlight how they meet the specific criteria outlined for each role.

Securing an internship with Standard Bank offers numerous benefits to aspiring professionals, for example:

·         Hands-on Experience: Interns gain practical exposure to the banking industry, working on real projects and developing valuable skills.

·         Networking Opportunities: Internships provide a chance to connect and collaborate with experienced professionals, expanding one's professional network.

·         Career Development: Interns receive mentorship and guidance from industry experts, helping them shape their career paths and gain insights into various roles within the organization.

·         Insight into Organizational Culture: Internships allow individuals to understand the values, ethos, and work culture of Standard Bank, providing a competitive edge in future employment opportunities.

Closing date:

30 June 2023. Apply now to avoid disappointment. Best of luck to all candidates.

For any inquiries, concerns, or support, individuals can contact the related Standard Bank offices. Get in touch. 

The Standard Bank Graduate Internship Program for 2024 provides a unique opportunity for talented graduates to kickstart their careers in the financial sector. By offering practical exposure, mentorship, and competitive stipends, Standard Bank aims to nurture and develop the next generation of banking professionals. Aspiring individuals should take advantage of this program to gain valuable experience and embark on a fulfilling journey within the banking industry.

Thuthuka Bursary Fund for Chartered Accountants 2024

22:40 Monrovia 0 Comments

Education plays a crucial role in the development and growth of individuals and nations alike. However, financial constraints often hinder deserving students from pursuing their dreams. In South Africa, the Thuthuka Bursary Fund aims to break down these barriers by providing financial support to talented students from disadvantaged backgrounds, enabling them to access quality education and pursue careers in the field of chartered accountancy. This comprehensive article will delve into the details of the Thuthuka Bursary Fund, including its eligibility criteria, application process, and contact information.

What is the Thuthuka Bursary Fund?

The Thuthuka Bursary Fund, established in 2005 by the South African Institute of Chartered Accountants (SAICA), is a program dedicated to promoting transformation in the accounting profession. The fund aims to increase the number of black chartered accountants in South Africa by offering comprehensive bursaries to financially needy and academically talented students.

Bursary Requirements:

·    Be black or colored.

·    South African citizenship or permanent residency.

·    Acceptance or registration at a SAICA-accredited university.

·    Financially disadvantaged background.

·    A minimum of 60% aggregate in Mathematics (not Maths Literacy) and English (First or Second Language) in Grade 12.

·    Write the NBTs.

Documents Required for Application:

·    Certified copy of South African ID document or passport (if applicable).

·    Certified copy of Grade 11 final results (or mid-year Grade 12 results if applying in Grade 12).

·    Certified copy of Grade 12 June results (if applying in Grade 12).

·    Certified copy of Grade 12 final results (or provisional results if applying before the release of final results).

·    Proof of acceptance or registration at a SAICA-accredited university.

Duration of the Bursary:

The Thuthuka Bursary Fund provides financial support for the entire duration of a student's undergraduate studies. The bursary covers tuition fees, prescribed textbooks, accommodation, meals, and a monthly allowance.

Detailed Steps of the Bursary Application Process:

·    To apply for the Thuthuka Bursary Fund, follow these steps:

·    Visit the SAICA website: Go to the official website of the South African Institute of Chartered Accountants (SAICA) and navigate to the Thuthuka Bursary Fund section.

·    Review the eligibility criteria: Thoroughly read and understand the eligibility requirements to determine if you meet the necessary criteria.

·    Complete the application form: Fill out the online application form, providing accurate and detailed information about yourself and your academic background.

·    Gather the required documents: Collect all the necessary documents as outlined in the application requirements.

·    Submit the application: Upload the completed application form and the supporting documents on the SAICA website before the stated deadline.

Tips on Securing the Bursary:

To increase your chances of securing the Thuthuka Bursary, consider the following tips:

·    Start early: Begin gathering the required documents and researching the application process well in advance to ensure you have everything ready on time.

·    Maintain academic excellence: Focus on achieving excellent grades, particularly in Mathematics and English, as academic performance is a crucial aspect of the selection process.

·    Demonstrate financial need: Clearly articulate your financial situation in the application, providing any relevant supporting documents to strengthen your case.

·    Seek guidance: Reach out to your school's guidance counselor or the Thuthuka Bursary Fund for any clarifications or assistance during the application process.

The Thuthuka Bursary Fund is a comprehensive financial aid program that covers various expenses associated with pursuing a chartered accountancy qualification. If you are awarded the bursary, it will typically cover the following:

·    Tuition Fees: The bursary will cover the full or partial payment of your tuition fees at a SAICA-accredited university. This ensures that you can focus on your studies without the burden of tuition costs.

·    Prescribed Textbooks: The bursary provides funding for the purchase of required textbooks and study materials. Having access to these resources is vital for your academic success and enables you to engage effectively with your coursework.

·    Accommodation: The Thuthuka Bursary Fund recognizes that accommodation is a significant expense for students. Therefore, the bursary includes provisions for covering the cost of accommodation during your studies, either on-campus or off-campus, depending on the university's policies.

·    Meals: The bursary fund also allocates funds to assist with meal expenses. This ensures that you have access to regular nutritious meals, supporting your overall well-being and enabling you to focus on your studies.

·    Monthly Allowance: In addition to covering tuition fees, textbooks, accommodation, and meals, the Thuthuka Bursary Fund provides a monthly allowance. This allowance helps to cover other living expenses, such as transportation, stationery, and personal needs, making your educational journey more manageable.

It is important to note that the specific details of the bursary package may vary slightly from year to year. However, the Thuthuka Bursary Fund strives to provide comprehensive support to deserving students, ensuring that financial barriers do not hinder their pursuit of a career in chartered accountancy.

In addition to the financial support mentioned earlier, the Thuthuka Bursary Fund offers various types of support and benefits to its recipients: These additional forms of assistance aim to enhance the overall educational experience and help students succeed in their academic and professional journeys.

Additional support and benefits provided by the Thuthuka Bursary Fund:

·    Mentorship and Guidance: The Thuthuka Bursary Fund recognizes the importance of mentorship in nurturing talent and providing guidance. Therefore, bursary recipients are often paired with experienced professionals in the field of chartered accountancy. These mentors provide valuable insights, advice, and support, helping students navigate their academic and career paths.

·    Work Readiness Programmes: To ensure that bursary recipients are well-prepared for the professional world, the Thuthuka Bursary Fund may offer work readiness programs. These programs equip students with essential skills such as communication, teamwork, and problem-solving, enhancing their employability and professional development.

·    Leadership Development: The bursary fund may provide opportunities for leadership development, empowering students to become future leaders in the accounting profession. This can include workshops, seminars, or networking events that focus on leadership skills and personal growth.

·    Networking Opportunities: Thuthuka Bursary Fund recipients may have access to a network of professionals, industry leaders, and fellow students. This network can provide valuable connections, internship opportunities, and exposure to potential employers, expanding students' professional networks and opening doors for future career prospects.

·    Professional Exam Support: The Thuthuka Bursary Fund understands the importance of completing professional examinations to become a chartered accountant. Therefore, additional support may be provided to bursary recipients to help cover the costs associated with exam fees, study materials, and preparatory courses.

·    Career Guidance and Placement Support: The bursary fund may offer career guidance services to assist students in making informed decisions about their career paths. This can include assistance with CV preparation, interview skills, and job placement support.

Bursary Fund Contact Details:

For further inquiries or assistance regarding the Thuthuka Bursary Fund, you can contact SAICA using the following details:

Website: www.saica.co.za

Coordinator's Email: Janes@saica.co.za

Phone: 27 8610 SAICA (72422)

Closing Date:

The closing date for Thuthuka Bursary Fund applications may vary from year to year. Therefore, it is essential to refer to the SAICA website or contact them directly for the most up-to-date information regarding application deadlines. The 2023 closing date is the 31st of August.

The Thuthuka Bursary Fund is a remarkable initiative aimed at empowering talented and disadvantaged students in South Africa to pursue a career in chartered accountancy. By providing comprehensive financial support, the fund opens doors to education and opportunity for those who may not have otherwise had access. If you meet the eligibility criteria, we encourage you to gather the necessary documents, complete the application form accurately, and submit it before the deadline. Seize this opportunity and embark on a transformative journey toward a brighter future.

How to become an investment banker in South Africa

21:55 Monrovia 0 Comments

Investment banking is a prominent field within the financial industry that involves providing advisory services, underwriting securities, and facilitating mergers and acquisitions. In South Africa, the demand for skilled investment bankers is high due to the country's growing economy and thriving financial sector. This essay aims to provide a comprehensive guide on how to become an investment banker in South Africa, including the necessary education, career opportunities, and key institutions in the industry.

An investment banker is a financial professional who assists corporations, governments, and individuals in raising capital, making strategic financial decisions, and executing complex financial transactions. To embark on a career as an investment banker in South Africa, one must acquire the necessary knowledge and skills through relevant education and professional experience. The duration of study required to become an investment banker may vary depending on the chosen educational path. On average, it takes around four to six years to complete the necessary education and obtain the required qualifications.

Modes of Study:

Various modes of study are available for individuals aspiring to become investment bankers in South Africa. These include:

·    Bachelor's Degree: Pursuing a bachelor's degree in finance, economics, accounting, or a related field is a common starting point. The duration of a bachelor's degree program is typically three to four years, and it provides a solid foundation in financial concepts, accounting principles, and economic theories.

·    Postgraduate Degree: Many aspiring investment bankers opt for postgraduate degrees such as a Master of Business Administration (MBA) or Master of Finance (MFin). These programs offer specialized knowledge in finance and provide a competitive edge in the job market. The duration of postgraduate programs ranges from one to two years.

·    Professional Certifications: In addition to formal education, investment bankers can enhance their qualifications through professional certifications such as the Chartered Financial Analyst (CFA) designation. These certifications demonstrate expertise in finance and can significantly enhance career prospects.

Undergraduate Degrees and Diplomas to study:

Several undergraduate degrees and diplomas pave the way for a career in investment banking. Some of the relevant fields of study include:

·    Bachelor of Commerce (BCom) in Finance, Economics, or Accounting

·    Bachelor of Business Science (BBusSc) in Finance

·    Bachelor of Science (BSc) in Actuarial Science or Mathematics with Finance specialization

·    Diploma in Financial Management or Investment Management

Best Investment Banking Corporations in South Africa:

South Africa boasts several leading investment banking corporations that provide excellent career opportunities for aspiring professionals. Some of the notable investment banking firms in South Africa include:

·    Absa Corporate and Investment Banking

·    Standard Bank Group

·    Investec Bank Limited

·    Nedbank Corporate and Investment Banking

·    Rand Merchant Bank (RMB)

·    JP Morgan South Africa

·    UBS South Africa

·    Goldman Sachs South Africa

Opportunities for Investment Bankers:

As an investment banker in South Africa, numerous career opportunities exist, including:

·  Corporate Finance: Assisting companies in raising capital, executing mergers and acquisitions, and providing strategic financial advice.

·  Capital Markets: Engaging in the underwriting and trading of securities, including stocks, bonds, and derivatives.

·  Private Equity: Identifying and investing in promising companies to generate substantial returns.

·    Asset Management: Managing investment portfolios for individuals and institutional clients.

·    Risk Management: Assessing and mitigating financial risks for organizations.

Average Salary of an Investment Banker:

The salary of an investment banker in South Africa can vary depending on factors such as experience, job role, and the employer's size and reputation. Generally, entry-level investment bankers can expect to earn an average annual salary of ZAR 400,000 to ZAR 600,000. However, with experience and career progression, this figure can significantly increase, reaching several million rands per year for senior investment banking professionals.

Let's take a look at the Benefits of Being an Investment Banker:

·    Financial Rewards: Investment banking is known for its lucrative compensation packages. Successful investment bankers have the potential to earn high salaries, significant bonuses, and generous profit-sharing opportunities.

·    Career Progression: Investment banking offers a clear career path with structured hierarchies. As individuals gain experience and expertise, they can climb the corporate ladder, taking on more senior roles with increased responsibilities and higher levels of compensation.

·    Global Exposure: Investment banking is an international industry, that provides opportunities to work on cross-border transactions and collaborate with professionals from diverse backgrounds. This global exposure enhances one's market knowledge, cultural understanding, and professional network.

·    Intellectual Challenge: Investment banking involves complex financial analysis, strategic decision-making, and problem-solving. This intellectually stimulating environment allows investment bankers to continuously learn and develop their skills, working on intricate financial models and analyzing market trends.

·    Networking Opportunities: Investment bankers interact with clients, industry professionals, and influential stakeholders. Building a strong professional network can open doors to new career prospects, partnerships, and business opportunities.

Disadvantages of Being an Investment Banker:

·    Demanding Workload: Investment banking is notorious for its long working hours and intense pressure. Investment bankers often face tight deadlines, heavy workloads, and the need to be available around the clock, which can lead to high levels of stress and work-life imbalance.

·    High-Stress Levels: The fast-paced nature of investment banking, coupled with high-stakes transactions and client expectations, can contribute to significant stress levels. Dealing with market volatility, demanding clients, and intense competition can take a toll on an individual's mental and emotional well-being.

·    Limited Personal Time: The demanding nature of the job often leaves little time for personal commitments, hobbies, or leisure activities. Investment bankers may find it challenging to maintain a healthy work-life balance, leading to strained relationships and decreased personal satisfaction.

·    Constant Pressure to Perform: Investment banking is a results-driven industry, and the pressure to meet financial targets and deliver exceptional outcomes can be relentless. This constant pressure to perform at a high level can create a high-stress environment and a sense of constant scrutiny.

·    Limited Job Security: Economic fluctuations and changes in the financial industry can impact the stability of investment banking careers. Downsizing, mergers, and market downturns can lead to job insecurity, especially during times of financial crisis.

Becoming an investment banker in South Africa requires a combination of relevant education, professional certifications, and practical experience. Pursuing a bachelor's degree, followed by a postgraduate degree or professional certifications, provides a strong foundation for a successful career in this field. South Africa offers a diverse range of investment banking corporations, providing ample opportunities for aspiring professionals to excel in various domains such as corporate finance, capital markets, private equity, and asset management. With dedication, commitment, and the right qualifications, one can embark on a rewarding journey as an investment banker in South Africa. Additionally, while investment banking offers numerous benefits such as financial rewards, career progression, and global exposure, it also comes with its fair share of disadvantages, including demanding work hours, high-stress levels, limited personal time, constant pressure to perform, and job insecurity. Aspiring investment bankers should carefully consider these factors before pursuing a career in this field, weighing the rewards against the challenges to make an informed decision.

Read this article featuring Investment Banker Nkanyiso Nyawose.