Nedbank offers a number of comprehensive bursaries to candidates wishing to pursue careers in the financial industry and related fields.
Nedbank’s history can be traced back to the late nineteenth century. In 1888, the bank was originally founded in Amsterdam as the Nederlandsche Bank en Credietvereeniging voor Zuid-Afrika (“Dutch Bank and Credit Union for South Africa”) as a venture by a Dutch banking consortium to extend operations to South Africa. That same year, an office was opened in Pretoria (the capital of what was then the South African Republic), and the bank began offering its services to South African clients. Its popularity among the South African business sector grew quickly, and by 1898, the bank had moved its offices to larger premises in Church Square.
1903 saw the bank change its name to Nederlandsche Bank voor Zuid-Afrika (“Dutch Bank for South Africa”), and by 1906, a new office was established in London, increasing its international reach. In 1951, this rapidly growing bank was divided, with the South African division being renamed the Nederlandse Bank in Suid-Afrika Beperk (Netherlands Bank of South Africa Limited). This move saw the number of South African shareholders increase rapidly, and by 1969, following the sale of a 20% stake by the Dutch Bank Mees en Hope, the company became an independent bank wholly owned by South Africans.
In 1992, the South African bank’s name was changed to Nedcor Bank Limited, with the largest division coming to be known as Nedbank. Following the demutualisation of Old Mutual, Nedcor’s holding company, and its subsequent listing on the London Stock Exchange in 1999, the new Nedcor Group was formed to incorporate Nedcor, BoE, Nedcor Investment Bank, and the Cape of Good Hope Bank. Finally, this group was renamed the Nedbank Group in 2005. Today, Nedbank’s headquarters are located in Sandton, South Africa.
Nedbank Bursary Program Overview
Recognising the importance of the youth in building a better future not just for Nedbank or even the banking industry as a whole, but for the South African economy, Nedbank bursaries are awarded to candidates who have shown strong ability and promise towards uplifting themselves and their communities, as well as those who show strong leadership and problem-solving skills.
The bursaries also serve to establish a talent pipeline of students who can obtain skill that are needed by Nedbank and the financial industry at large, and contribute to the workforce upon successful completion of their studies. While preference is of course given to candidates from disadvantaged backgrounds, Nedbank bursaries are open to a wide range of prospective applicants. The requirements for application include being a South African citizen in possession of a valid ID document, an overall academic average of 65%, acceptance by a recognised tertiary institution, and demonstrated financial need.
In addition to undergraduate bursaries, Nedbank also offers a graduate development program that is aimed at helping graduates gain experience in their chosen fields and make the best possible start in building their careers by bridging the gap between learning theoretical knowledge and the acquisition of practical skills, while also offering the opportunity to add further qualifications to successful candidates’ current degrees. Special student loans are also available to those who are not successful in their application for a bursary.
As one of South Africa’s largest financial service providers, Nedbank bursaries are some of the most comprehensive in the country, providing everything a student needs to excel in their chosen field.
First and foremost, the cost of tuition is covered in full, as well as any registration fees, examination fees, or other administrative costs that are compulsory. Textbooks, stationery, and any required equipment or study material that may be needed for the successful completion of the successful candidate’s studies is also covered.
Accommodation at a residence or hostel run by the university is included at a rate determined in conjunction with the university, as are meals provided by the same. These provisions take a great deal of the financial burden out of tertiary education, giving bursary recipients the help they need to achieve their academic goals.
The specific qualifications covered by Nedbank bursaries differ from year to year based on the company’s projected skills requirements, but generally cover a variety of different degrees and specialisations.
These include qualifications in agricultural studies, accounting, actuarial science, business finance, business management, chartered accountancy, computer science, economics, engineering, financial planning, human resources management, information technology, investment management, mathematics, property studies, quality surveying, risk management, and statistics, among others.
The application process for Nedbank bursaries is fairly straightforward, and involves a number of different stages. Initial applications can be made online through the Nedbank website, where the applicant’s academic record and choice of qualification, along with other supporting documents, are screened to ensure they meet Nedbank’s current standards.
A financial check is also done to establish the demonstrated need of the applicant. If these are successful, the applicant will be invited for an interview with a Nedbank panel. Shortlisted candidates will be asked to undergo a psychometric assessment to ensure that they have the necessary temperament and aptitude to excel in their chosen field.
Finally, if all the above are successful, an offer will be made, following which a letter of acceptance to a recognised university and full matric results must be sent to Nedbank to finalise the offer. Bursary applications are open each year between 1 February, and 30 April. Early submission is strongly encouraged.