Capitec chief executive, Gerrie Fourie recently described the local hiring market as a ‘war of talent’ with businesses struggling to hire from a limited talent pool.
Fourie said that this is most keenly felt in highly-technical professions such as data science and IT workers.
“This is being fueled by people saying they are now working from home and overseas. It’s quite easy to work in London but you actually sit in South Africa, so I think there will be quite a war for talent,” he said.
South Africa’s banking sector is desperate for a number of tech-related roles, according to the Department of Communications and Digital Technologies.
The government has identified a big gap in cybersecurity skills and is currently working with other entities within departments to try and plug it.
The good news is that many of the country’s large banks provide Bursary Programme to aid ‘financially restricted’ students, and bolster the country’s skilled workforce.
The South African Reserve Bank , as part of addressing the severe shortage of skills in the country provides bursaries to students in relevant fields of study who are from disadvantaged backgrounds. The last date to apply for a bursary is 30 September 2022, with additional details here.
Legacy banks often provide programmes to filter educated graduates into their companies. In many cases by paying for a student to attend university a company as a result gains a valuable employee once the period of study has been completed.
BusinessTech looked at some of South Africa’s largest banks and what they offer students, with some bursaries closing at the end of the month for 2023.
Note: ‘All-inclusive’ for purposes of the below table refers to programmes that cover: full tuition, accommodation, textbooks, a laptop, meal allowance and a monthly stipend.
| Standard Bank | |
|---|---|
| Programme | Standard Bank Bursary Fund |
| Coverage | All-inclusive |
| Extras |
|
| Fields of interest | Undergraduate or postgraduate in:
|
| Dates | Bursary applications open: April – 30 September 2022 |
| FirstRand | |
|---|---|
| Programme | Laurie Dippenaar Scholarship |
| Coverage | R925 000 |
| Extras | Personal interest by Laurie Dippenaar in each selection and the ongoing progress of recipients. |
| Fields of interest | Any discipline at an international university of the recipient’s choice. |
| Dates | Applications for 2023 are likely to open in December |
FirstRand offers further scholarships for international postgraduate study with similar coverage of R925,000, further information can be found here.
| Absa | |
|---|---|
| Programme | Absa Fellowship Programme |
| Coverage | All-inclusive |
| Extras |
|
| Fields of interest | Undergraduate in:
|
| Dates | Applications will open December 2022/ January 2023 |
| Nedbank | |
|---|---|
| Programme | The Nedbank External Bursary Programme |
| Coverage | All-inclusive |
| Extras | N/A |
| Fields of interest | Any field if the applicant fulfils financial eligibility requirements |
| Dates | Applications for 2023 close 31 July 2022. |
| Investec | |
|---|---|
| Programme | Investec CSI Bursary |
| Coverage | All-inclusive |
| Extras | Assistance with job search and access to other bursaries managed by Study Trust. |
| Fields of interest | Undergraduate in:
|
| Dates | Applications for 2023 close 31 August 2022. |
| Capitec | |
|---|---|
| Programme | Capitec Bank Bursary Programme |
| Coverage | Information not provided |
| Extras | Upon completion of studies, Capitec Bank bursary holders will be required to work for Capitec Bank for an equal length of the bursary duration. |
| Fields of interest | Studying towards undergraduate and/or post-graduate degree in:
|
| Dates | Applications closed on 10 July 2022 |