In recent years, there has been a growing appeal among students for corporate support as they navigate an increasingly competitive job market, often burdened by significant debt. Financial security, mentorship, and work experience have become vital for students entering the workforce. While bursaries are often seen as a means for companies to invest in students’ education, this perspective overlooks the substantial advantages that corporate sponsors can gain from such initiatives.
Bursary opportunities can profoundly impact the lives of students and their families. These programs not only enhance career prospects but also boost students’ confidence, knowing they have the support of established corporations. Meghan Slater, Head of Corporate Sales at The Red and Yellow Creative School of Business, emphasizes the importance of unlocking these opportunities for young South Africans, who represent the future of the nation.
From the corporate perspective, sponsoring bursary programs can help achieve marketing goals and enhance their Broad-Based Black Economic Empowerment (B-BBEE) scores. By positioning themselves as brands that invest in education and uplift youth, companies can improve their public image and attract potential talent.
Funding a bursary program allows corporations to develop a talent pipeline tailored to their needs. By identifying and nurturing students with specific skills and knowledge, companies can access a unique talent pool that other businesses may not have. Additionally, Corporate Social Responsibility (CSR) initiatives significantly influence how companies are perceived by the public. Companies that actively support their communities can build a positive reputation and appeal to consumers and prospective employees.
With the amended B-BBEE Act, corporations have greater opportunities to support young black students through bursaries for higher education. This not only aids in improving their B-BBEE score but also contributes to creating equal opportunities for all. Slater notes that at Red & Yellow, one of their primary goals is to help young creatives become leaders in the industry over the next decade, emphasizing the importance of skilled individuals in addressing global challenges.
Tertiary institutions also welcome the support of bursary programs, as they enable students who may not otherwise have access to education to pursue their studies and transform their circumstances. Several success stories from Red & Yellow bursary recipients illustrate the transformative power of these programs.
For instance, Hluma Shoko, a Bachelor of Arts in Visual Communications student, received a three-year bursary from the Alex Foundation, which includes mentorship and the opportunity to work with a leading advertising agency. Shoko values education and aims to uplift aspiring artists in her community.
Similarly, Michell Anele Mlalazi, a BCom Marketing student, was awarded a bursary sponsored by Abey Mokgwatsane to honor his late grandmother. Mlalazi believes this opportunity will enhance his employability and enable him to support not only his family but also others in need, reflecting his commitment to giving back.
Anganathi Beyile, pursuing a BCom in Marketing, views his bursary as a life-changing opportunity. After shifting focus from a music career, he now has the financial security to concentrate on his studies and aims to start his own agency to promote artists and tell brand stories, emphasizing the importance of social responsibility.
Amy Gajjar, another recipient of a bursary through a partnership with Publicis Groupe Africa, plans to use her education to secure a position in major design and advertising agencies. She aspires to be a lifelong learner and encourages future students to remain dedicated and believe in their potential.
These stories highlight the profound impact that bursaries can have on individuals and communities, demonstrating that education not only transforms lives but also contributes to a more equitable and prosperous society.