Corporate social investment and staff volunteerism

CSI FOCUS AREAS: EDUCATION

Education is the foundation on which the future of our country will be built. Nedbank Group consistently rises to the challenge of doing its part to provide South African children with a solid education, focusing on rural-school development and early-childhood development, providing learning tools for preschools and generally creating environments that are conducive to learning. Examples of education projects supported by the foundation in 2008 include:

Technology Research Activity Centre SA – Mpumalanga

Technology Research Activity Centre SA (TRAC SA) is a national, non-profit programme that has as its objective to support Science, Mathematics and Technology education in South African secondary schools and tertiary institutions, while also encouraging learners to enter careers in these fields. The Nedbank Foundation donated R580 000 towards the establishment and running costs of a mobile TRAC SA lab to assist 20 schools in KwaMhlanga in Mpumalanga.

By the end of 2008 approximately 120 teachers from different schools in the Mpumalanga area had been successfully trained. The success of the training is attributed to the high level of cooperation between the TRAC SA science educators and principals of the selected schools, with TRAC SA facilitators ensuring that all learning outcomes are adequately addressed.

At the end of 2008 the number of learners exposed to TRAC SA with hands-on experiments was approximately 1 857. When asked what they thought of the TRAC SA lab experience some of the learners had the following to say:

‘The method of teaching motivates us learners.’

‘My school lacks resources for practicals, therefore TRAC’s presence makes a great deal of a difference and it is necessary that you come back.’

‘The TRAC SA labs will help us with our year-end results.’

Although some learners initially found the equipment difficult to operate due to their lack of computer skills, it was easier for them to use the equipment after several attempts. Now the learners are excited about the ability of the computer to gather the scientific data and draw conclusive results on scientific problems/experiments presented. They also have a better understanding of the relationships that exist between graphs, equations, laws, definition and units.

Phomolong Secondary School

Established in 2006 and situated in an informal settlement on the East Rand, the school caters for almost 1 500 learners in Grades 8 to 11 and currently has 23 prefabricated classrooms, all of which are severely overcrowded. Nedbank donated R364 000 for the three new classrooms to benefit
160 Grade 11 learners.

Readathon

This is a nationwide literacy promotion initiative executed by the National Department of Education and READ Educational Trust. Sponsored by the Nedbank Foundation, Readathon aims to develop a culture of reading in South Africa and to highlight the importance of literacy. Through a national literacy competition and the distribution of Readathon teacher handbooks to 26 000 South African schools, Readathon promotes reading in its widest sense. Nedbank donated R1,5 million to READ Educational Trust.

 

Nedbank bursaries for skills development

Nedbank partnered with the National Student Financial Aid Scheme (NSFAS) to implement and administer the Nedbank Bursary Fund.

The Nedbank Bursary Fund awarded 464 bursaries to undergraduate students in 2008 in accordance with the demographic representation of South Africa’s economically active population and for particular fields of study such as BCom/BBus Science majoring in any one of the following: Accounting, Statistics, Economics, Financial Management, Actuarial Science, Information Systems and/or Computer Science. Accordingly, 409 student bursaries were awarded to Africans, 27 to Coloureds, 20 to Whites and 9 to Indians. A total of 224 of the bursaries awarded across these demographic groups were awarded to female students.

A major factor in the establishment of the Nedbank Bursary Fund was to serve as an effective means for the banking group to grow and develop its own talent pool.

NSFAS is the main funder of students at public higher- education institutions in South Africa and currently handles more that R2 billion in funding to assist students financially across a range of study areas.

Nedbank Ltd Eyethu Community Trust

This trust does not have participants, but holds shares for the benefit of black people and charitable organisations that have been established for the benefit of black people within South Africa. The trustees have elected to fund educational projects. The trust takes only a cash dividend in terms of the Trust Deed.

 

The Thuthuka Bursary Fund

The fund serves as a key element in the comprehensive transformation strategy of the accounting profession and is aimed at increasing the entry numbers and improving the pass percentages of black learners at tertiary level through not only providing financial support, but also addressing the needs of the ‘whole’ student with a comprehensive programme.

Nedbank Group has showed its support of this initiative with a sponsorship of R250 000 in 2007, R600 000 in 2008 and a commitment of R900 000 from 2009 onwards to enable 10, 20 and thereafter 30 students per annum to study towards the Chartered Accountant (SA) qualification.