New Finance Bank (NFB) has provided tuition to needy but bright students at Malawi University of Science and Technology (MUST).
The money amounting to K8 million has been offered to two first year Bachelor of Science in Medical Microbiology students at the university.
Each student will get K4 million, enough to see them through their four years of study.
Speaking during launch of the scholarship fund at NFB Blantyre Branch on Thursday, the bank’s Head of Corporate Banking Sitabeni Majamanda Malange said the scholarship is a response to government’s call for corporate institutions to complement its efforts in development.
“Government wants partners to ensure that we achieve the Sustainable Development Goals. As a financial technological institution, we were particularly interested to support the area of science and technology which MUST is a leading player,” she said.
According to Malange, the K8 million scholarship will be honoured annually until the students, Michael Hauli and Lloyd Manda, finish their studies after four years.
Malange advised the students to work hard in class and demonstrate exemplary behaviour as they are now NFB ambassadors.
In her speech, MUST Vice Chancellor Professor Address Malata said the university has many students who are struggling financially.
“However, we are happy to see many people coming to support. We even have some restaurant owners who are offering needy and hungry students meals. Some students are supporting their needy colleagues,” she said.
Malata called on banks to provide students with capital so that they can start own businesses.
“As MUST we believe in doing business unusual. As such, we have established centres of excellence in entrepreneurship and science and technology. So banks can come in to offer internship openings but also provide capital for establishment of businesses among students. For example, students can team up and establish a cleaning company and we can engage them to do cleaning services on campus. In so doing, we will be empowering them,” she said.
On his part, one of the beneficiaries Hauli promised to work hard to realise his dream.
“Now that I am assured of school fees and meals, I can only dedicate all my time to studies,” he said.