Motsepe Foundation Update on Student Bursaries

The Motsepe Foundation has awarded bursaries covering tuition, books, accommodation and allowances to 735 students over the last two years from the 26 Motsepe Foundation Development Forums that have been established in the nine provinces throughout South Africa. These bursaries have been awarded to students studying mainly in the fields of Science, Technology, Engineering, Mathematics and Business studies.

The amount spent on these students in 2014 is approximately R16.5 million, and will exceed R58.5 million in 2015. The total commitment to these students over a period of four to five years is approximately R229 million.

In the current year, the Motsepe Foundation is also focussing on processing applications for the funding of women and youth owned businesses which, for tax purposes will be done by a separate company that is associated with the Motsepe Family. Many of the applications received thus far are not commercially sustainable and initiatives are being undertaken to involve and partner with experienced and successful locally based companies.

The Motsepe Foundation is also evaluating applications for funding of projects by locally based NGOs, religious organisations, traditional authorities, community based sports organisations, worker organisations and music and arts organisations.

The Chairman of the Motsepe Foundation, Mr Patrice Motsepe, and the Deputy Chairperson, Dr Precious Moloi-Motsepe, will during 2015 visit each of the 26 Development Forums throughout South to assess the effectiveness and impact of the projects that have been funded as well as to receive feedback from the local residents of the 26 Motsepe Foundation Development Forums in South Africa.

Announcements will be made during the course of the year and during these visits on some of the funding applications that will have been approved.