The South African Reserve Bank (SARB) serves as the central bank of South Africa, with its primary objective being to maintain price stability in order to foster sustainable economic growth within the country. It was established in 1921 following the enactment of the "Currency and Bank Act of 10 August 1920" by Parliament. Prior to its establishment, commercial banks in South Africa issued banknotes to the public.
The SARB assumes several responsibilities, which include ensuring that South Africa's banking, monetary, and financial systems meet the needs of the community and align with global developments. Additionally, it assists the South African government and other economic stakeholders by providing macroeconomic policy data. Lastly, the SARB offers information on the country's monetary policy and economic position to the South African community and international stakeholders.
Fields Covered
The South African Reserve Bank (SARB) is inviting students to apply for their external bursary scheme, for the 2024 academic year.
Bursaries will be awarded for undergraduate studies, including but not limited to, fields related to functions and activities of the South African Reserve Bank (SARB). (For example: Accounting, Actuarial Science, Economics, Finance, Information Technology, Law, Mathematical Statistics, as well as Dentistry, Medicine and Social Work).
Bursary Selection
Bursaries are reviewed annually, however students do not have to reapply for funding each year.
Bursary recipients will have the opportunity to partake in vacation work, funded by the Bank.
Shortlisted candidates will be contacted within 1 month of the application closing date – if you do not receive any feedback by this time, please accept that your application was unsuccessful. Candidates may be required to undergo testing and attend an interview before being awarded a bursary.
Requirements
Applicants must satisfy the following minimum entry criteria before applying (please note that failure to satisfy all the requirements will lead to your application not being considered):
- You must be a South African citizen
- You must be under the age of 30 years old
- You must have completed Matric or be currently in Matric
- You must intend on studying full-time towards an undergraduate qualification, in a field of study not be limited to the functions and activities of the SARB
- You must be entering your 1st year of study in 2024
- You must have been accepted or provisionally acceptance to study at a recognised and accredited university in South Africa
- You must have achieved a minimum overall average of 70% for your Matric June exams
- You must be in financial need
- You must be unable to afford to attend university without a bursary
- You must be from a disadvantaged background
How to apply
Applications must be submitted in either of the following ways:
Online Application
Step 1: Register on the Career Wise platform
Use the promotional code SARB2024
Step 2: Login to the Career Wise platform
Step 3: Complete the online application form
Step 4: Upload your supporting documents as listed below
Manual Application
Step 1: Download and complete the SARB Bursary Application Form 2024 (.pdf)
Use the promotional code SARB2024
Step 2: Collect copies of your supporting documents as listed below
Step 3: Submit your completed application form and supporting documents in any of the following ways:
- Email: applications@careerwise.co.za
- Post: Mr John Legoete, P O Box 30632, Braamfontein, 2017
- Fax: 086 609 7183
Submit clear copies of the following supporting documentation along with your application (the submission of these documents is compulsory – if any items are missing, your application may be disqualified):
- ID document (certified copy)
- Matric June results, if currently in Matric (certified copy)
- Matric final results/ certificate, if completed Matric (certified copy)the
- Proof of acceptance at university for the 2024 academic year (on institutions letterhead, with student number)
- Motivational essay to support your application