Standard Bank Boosts MUST Fund
MUST Vice Chancellor Address Malata said more than 100 students will receive assistance this academic year thanks to 59% growth in the endowment fund.
THYOLO, Malawi— Standard Bank PLC has presented a K20 million donation to the Malawi University of Science and Technology (MUST) Student Endowment Fund, fulfilling this year’s installment of the bank’s four-year, K80 million commitment, writes Frank Phiri.
The endowment fund assists economically disadvantaged students and mobilizes resources for the university. It was started in 2021.
“We are really pleased to see the efforts that the fund is going to contribute towards equal access to education at the institution,” Graham Chipande, Standard Bank’s head of business and commercial banking, said Tuesday at the donation ceremony in Ndata, Thyolo.
Chipande praised MUST’s transparency in managing donations so far and urged continued diligence so the fund can grow successfully long-term.
He highlighted the fund’s potential as “a catalyst for building national wealth through human capital development.”
The bank aims to drive collective national growth in Malawi, Chipande said.
“As a purpose-driven bank, we believe that ‘Malawi is Our Home, We Drive Her Growth,’” he said.
MUST Vice Chancellor Address Malata said more than 100 students will receive assistance this academic year thanks to 59% growth in the endowment fund.
She thanked Standard Bank for the consistent annual donations, ensuring the fund can start aiding students in its third year.
To date, Standard Bank has contributed K60 million kwacha of its K80 million kwacha four-year pledge, Malata said.
The endowment fund has now amassed K3.4 billion, she added.