The South African Reserve Bank is South Africa’s only central bank, tasked with the mandate to maintain the stability of price for sustainable growth of the economy of our country. The Reserve bank was established in 1921 after the Currency and Bank Act of 10 August 1920 was passed in Parliament.
The South African Reserve Bank bursary scheme
Purpose of the bursary schemeThe South African Reserve Bank (the Bank), as part of confronting the severe shortage of important skills in South Africa, provides bursary opportunities to applicants in relevant fields of study who are from disadvantaged backgrounds. This opportunity is not different from First National Bank (FNB) bursary assistance which is also made available every year in South Africa.
The purpose of the bursary scheme is to assist financially needy students who obtain excellent results in Matriculation/Grade 12 and who intend to study in fields relevant to the Bank.
The bursary is targeting applicants who wish to pursue undergraduate studies at a South African university on a full-time basis.
Studies for which bursaries will be granted
The studies that bursary applicants intend pursuing must have a bearing on, and be relevant to, the functions and activities of the Bank. These includes the following bursary options:
- Economics bursary
- Information Technology bursary
- Finance bursary
- Law and Accounting bursary
The South African Reserve bank bursary does not cover the following studies:
SARB bursary will be granted from the first academic year and it gets reviewed every year based on academic performance of the recipients.
Bursary holders must not re-apply for the bursary each year by submitting their official results statements
South African Reserve Bank Bursary Criteria
The number of recipients and related bursary costs will be reviewed annually.
An annual single payment for accommodation (university accommodation only), books and tuition fees will be made directly to the recipient.
When South African Bank Bursary recipients complete their university studies, the bank may request them to assume employment if there are vacancies available. They may also be asked to join a graduates development programme with the bank’s operations. The employment will be equal to the period the student received financial support.Recipients who reject the Bank’s employment offer will be required to pay the full cost of the bursary back to the Bank.
The Bank will provide students who are Bank bursary recipients vacation work opportunities that are funded by the Bank.
South African Reserve Bank Bursary Application Process
The bursary closing date for submission of applications shall be 30 September 2018.
Academic results of the previous year, university enrollment form (confirmation letter) and any other relevant supporting documents must be submitted together with the application form.
Completed bursary application forms must be emailed to:
Or posted to:
Ms Vinessa Naidoo
Human Resources Department
South African Reserve Bank
370 Church Street