The First Capital Bank (FCB) has paid K5.5 million as tuition fees for needy students at Malawi University of Business and Applied Sciences (MUBAS).
The bank has also launched a student account promotion aimed at supporting all University students with pocket money.
FCB donated the amount on Tuesday at the MUBAS campus in Blantyre where the bank’s Retail Segment Manager, Janet Sipanala, said this demonstrates their commitment towards complementing efforts on improving the country’s education system.
She explained that the funds would help several students who were on the verge of failing to sit for the end-of-semester examination for failing to settle their tuition fee balances.
“At First Capital Bank, we believe in supporting students because we realize that every one of us was once a student and so we strive to support them more, and that’s why we have made this donation. We will continue to build relationships with Universities, and MUBAS is just one of the beneficiary Universities,” she said.
About the ‘Switch to Afana Ophusha Promotion’ which will run for 5 months starting from 1st May to 30th September 2024, Sipanala said it has been designed to financially support University students in Malawi.
She indicated that by the end of the promotion, five University students across the country will win K1 million each in monthly draws, while 252 others will be winning fortnightly cash prizes and other consolation prizes such as branded T-shirts and FCB Nyasa Big Bullets replica jerseys.
To enter the promotion, all University students are encouraged to open a student account and transact on First App at least twice a week and also keep a minimum account balance of MK10,000.00 to qualify for fortnightly draws.
On her part, MUBAS Director of Students Affairs, Dr. Getrude Sitolo, commended the bank for the donation, saying at least 100 students have not squared their tuition fees and risk missing the end-of-semester examination.
Sitolo claimed that the funds are a relief to a few financially struggling students, and she was so quick to invite more companies to support some more needy students at the institution.
