Forty-nine tertiary students were given a life-line on Wednesday in the form of bursaries donated by Oasis Group holdings, with a further R10 million donated to the University of Cape Town. The 49 students on the Oasis Bursary Programme will also be provided mentoring, support and practical exposure to the corporate and social environments. The company will afford each student an opportunity of employment upon graduation.
One of the beneficiaries, Bangladeshi national Gameema Moola, a first year student studying actuarial science at UCT, said she would never have been able to acquire university funding.
“I am very grateful to Oasis for funding me despite me not being a South African citizen. I am very grateful to the Bursary Programme as they are providing opportunities to struggling learners,” she said.
UCT law student Shuaib Ramjam said while the financial assistance afforded to the beneficiaries was crucial, gaining practical experience in the corporal world was vital to their development as prospective jobseekers.
“It will have a major benefit for my career as I will get the practical experience and mentoring needed. This means that when I am done with my studies, I will be able to excel in the corporate sector,” he said.
Following the resurgence of student protests last year, funding for education remains a contentious issue that is being debated in the public space. While the key role players, especially where educational funding is concerned has been government, educational institutions and students, the recent budget speech delivered by the Finance Minister provided an indication of Treasury’s limited purse and the urgent need for broader stakeholder involvement. The corporate sector has a critical role to play into contributing to education.
“The reality is that our educational system is under severe pressure and unless a strengthened system is implemented, underpinned by a new social compact amongst all stakeholders, our challenges will continue to grow,” said Adam Ebrahim, CEO of Oasis.
“As individuals and citizens, as communities and as businesses, we need to contribute towards education and we need to voice our concerns but we also must work together to create solutions that will alleviate the pressures faced by the students. Many may have access to education but become overwhelmed by the burden of debt as they leave tertiary institutions, which places graduates in a compromised position early on in their careers.”
To date, the company has committed over R10 Million to Early Childhood Development and close to R15 Million to secondary and tertiary level education.
“This investment will contribute to the alleviation of funding pressures through the allocation of bursary grants to students attending the university and we will also afford these students the same opportunities as our own Bursary recipients to gain skills and much needed practical experience,” said Adam Ebrahim.
Dr. Russell Ally, Executive Director of the Development and Alumni Department at the University of Cape Town described the partnership, stating that over the next five years, R2 million will be allocated to the University annually.
First-year student orientation and support will receive R250 000; undergraduate degrees and programme will receive R1 million; and postgraduate studies will receive R750 000.
“UCT and Oasis will collaborate in selecting students eligible for the funding and as an institution we remain grateful to businesses like Oasis for setting up this partnership, which we are hopeful will continue over the long term.” VOC
