SARB, the central bank of South Africa, has a dual mandate: to protect the currency’s value in the interest of balanced economic growth and to ensure financial stability. This constitutional role involves issuing and managing currency, regulating financial institutions, overseeing national payments systems, managing foreign reserves, acting as the government’s banker, and providing last-resort liquidity assistance. Price stability, with a target inflation range of 3-6%, is a pivotal focus, reinforcing the bank’s responsibility in maintaining financial system stability. SARB operates independently while collaborating with government and is accountable to Parliament.
Strategic Commitment:
SARB’s strategy revolves around achieving price and financial stability for the benefit of all South Africans. Through its five strategic focus areas and specific objectives, the bank aims to make a significant contribution to the nation’s economic well-being. This commitment to independence, transparency, and strategic planning underscores its vital role in supporting South Africa’s economic growth and stability.
Bursary description
The South African Reserve Bank (the Bank) is committed to addressing the critical shortage of skills in South Africa by providing life-changing bursaries to students from disadvantaged backgrounds. These bursaries support studies in fields aligned with the Bank’s functions and activities, spanning from Economics and Finance to Medicine and Social Work. With an emphasis on academic excellence, applicants with a minimum of 70 percent in their June Matric/Grade 12 examinations are encouraged to apply. South African citizens in need of financial support for university education are eligible to apply for this program. Successful bursary holders not only receive financial assistance but also gain access to vacation work opportunities funded by the Bank, making this a holistic and transformative opportunity.
Join us in shaping the future of South Africa’s workforce and communities. Apply for the South African Reserve Bank External Bursary Program before the annual deadline of September 30th. We invite you to embark on an educational journey that goes beyond funding, empowering you to make a lasting impact on your chosen field and society. For more details and application instructions, visit our website at www.resbank.co.za and seize this chance to unlock your full potential.
South African Reserve Bank External Bursary Scheme for the Economic Research Department’s Economics Programme. The South African Reserve Bank (SARB) is looking for aspiring economists entering their first year of undergraduate studies in the 2024 academic year, to join our external bursaries programme.
What the South African Reserve Bank does
The SARB serves the economic well-being of all South Africans through maintaining price stability and financial stability. It is responsible for the regulation of the South African financial sector, the design and distribution of banknotes and coin, the management of interest rates, setting the cash reserve requirement for banks, and ensuring the stability of both the banking sector and the wider financial system.
The SARB’s Economic Research Department, incollaboration with the SARB Academy, hereby invites prospective undergraduate degree students to apply for competitive SARB bursaries in the fields of Economics, Economics and Econometrics, Economics and Mathematical Statistics, and Economic Science.
- provisional acceptance into an undergraduate degree in the field of Economics;
- having achieved an average pass mark of 70% in your current year of study, with a good command of English and Mathematics (70% and above);
- being younger than 30 years; and
- being in financial need (unable to afford to attend university without a bursary).
How to apply
The closing date for the submission of applications is Saturday, 30 September 2023. Late applications will not be considered.
Examination results, proof of acceptance at a recognised institution (a student number) and any other supporting documents must be submitted with the application. Use PROMO CODE: SARB ERD24.
Requirements to qualify for the bursary
For students to be considered for the bursary, they have to meet the following requirements:
Requirements and eligibility
Requirements to qualify for the bursary
For learners to be considered for the bursary, they have to
meet the following requirements:
• Conditional admission to an undergraduate program at a South African university;
• Attaining a mean score of 70% on the June Grade 12 assessments, with the scholarship’s ultimate bestowal contingent upon the final outcomes;
• Under the age of 30;
• Experiencing financial hardship, unable to cover university expenses without financial assistance.