National Bank of Malawi (NBM) plc on Friday disbursed K7.8 million worth of scholarships to 20 students who are struggling to raise school fees at the Polytechnic, a constituent college of the University of Malawi.
NBM plc made the pledge last year to pay school fees for the 20 students until they finish their courses after four years of study. The whole package is worth K1.6 million per student which translates to K32 million over the four year period.
Speaking when the bank disbursed fees for the second year students in Blantyre, NBM Head of Risk Charles Ulaya urged the students to work hard in class to make the bank proud of its investment.
“You are lucky that NBM plc has taken over the responsibility of paying your school fees for the entire duration of your study, what remains for you is to work hard in class because you will not be thinking where you are going to get the fees, work hard to make the bank proud of its investment,” said Ulaya, an alumnus of the Polytechnic himself.
Dean of Students at the Polytechnic Luciano Ndalama thanked NBM plc for the scholarship saying the gesture will help the students to fully concentrate on their studies.
“The performance of these 20 students has been impressive; no one has failed since the bank started sponsoring them. They are assured of school fees for the entire duration of their courses and we are very grateful to NBM plc for this gesture,” said Ndalama.
One of the recipients of the scholarships Sara Solomon pledged to repay NBM plc with good grades in their studies.
“The scholarships have motivated us to work hard in class and we have hope of finishing our university education, we can only repay NBM plc with good grades,” said Solomon.
NBM plc Corporate Affairs Manager Annie Magola said the Polytechnic Alumni Association facilitated the sponsorship of the students when it approached the bank for support.