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FDH Bank launches MK62.5m scholarship fund at MUST

November 2, 2017   Our Reporter
PIC: FDH Presenting cheque to MUST VC

The gods continue to smile at the Malawi University of Science and Technology (MUST) with more organisations coming forward with funds to support needy students at the institution.

The latest is FDH Bank which on Wednesday, November 1, 2017, launched a K62.5 million scholarship fund to support 10 students for their entire academic life at MUST. The scholarship for the 10 students covers tuition, accommodation and upkeep.

Speaking at the launch ceremony at MUST campus in Ndata, Thyolo, FDH Bank Deputy Managing Director, William Mpinganjira, urged beneficiaries to work hard and make the most of the scholarship.

“Academic performance is key for the scholarship. We will appreciate if you really work hard in your studies. The scholarship also includes attachments at the bank during holidays,” said Mpinganjira who also encouraged the students to think entrepreneurship.

“There is a myth that you do not need education to make it in entrepreneurship. But that is not true. I know people cite cases of Apple founder Steve Jobs, Microsoft founder Bill Gates and others such as Tiger Woods, calling them school drop out that still made it big in life. But you have to realise that these people dropped out from some of the world’s top universities, meaning that they were serious with education for them to be found there.”

On her part, MUST Vice Chancellor, Professor Address Malata, thanked FDH Bank for the support to the needy students, most of whom are the only hopes of their families.

Professor Malata said she interviewed the beneficiaries to establish how genuine their cases were, only to be shocked that some of them can’t afford a meal on campus while others lost both parents when they were in primary school

“It was through such interactions that I learnt that some of them had fellow students buying food for them and we also have one student, who paid tuition for his colleague after realising that he risked withdrawing. Those are the chilling stories of needy students on campus,” said Malata.

She said she established a scholarship fund for the university after realising that government’s efforts to support needy students through the Higher Education Students Loans and Grants Board is overwhelmed with demand and cannot support every needy student.

“We want to compliment government’s efforts because even leading universities in the world such as Michigan State University or Stanford University in America have such scholarship funds. So our desire is to grow the fund to K1 billion,” said Professor Malata.

The MUST Vice Chancellor also challenged the beneficiaries to work hard in class and demonstrate good behaviour.

“You have no reason to fail because FDH Bank is providing for almost all your needs—tuition, accommodation and upkeep. Each one of you will be getting K1.2 million a year for the next five years of your studies,” she said, while thanking FDH Bank for providing such a huge scholarship and forcing other well-wishers, including individuals to come forward with their won scholarships.

She also urged the students to learn to help others through the bank’s gesture.

FDH Holdings is a majority shareholder of FDH Bank, whose motto of “grow with us” proved true with the beneficiaries and the university.