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Lovedale and ABSA partner to improve financial knowledge of students

Emerging entrepreneur - Ayanda Maqoma

ABSA Retail Banking Retail Manager (left), Lovedale student (centre) and Lovedale Acting Principal.

ABSA Bank recently awarded 30 students with certificates for Work Based Experience (WBE). WBE, a sub-division under Work Integrated Learning, a Student Support Services function in TVET Colleges, requires a total of five to fifteen days in the workplace. It is an essential part of the college experience, as its purpose is to help the recipients to do authentic work under actual working conditions.

The bank diligently visits campuses each year to embark on their Ready-to-work project. Ready-to-work assists young individuals who are ready to work or self-employed to reach their goals by equipping them with people, work, money and entrepreneurial skills. It is an application which teaches individuals how to apply for a job, how to attend to interview questions and other interesting tips that are not taught in classrooms. At the end of the project, successful students can print a certificate to acknowledge their participation.

But these are not the only linkages that ABSA Bank has formed with Lovedale. ABSA Bank visits campuses during the early part of the year to open student bank accounts. The purpose is to educate students on how to manage money and save from an early age. The students also save on banking costs by opening student accounts.

One of the ABSA’s proudest financial contributions, is its donation to the college’s Annual Graduation Ceremony. The bank awards an amount of R10 000 to the top 10 National Certificate N6 Financial Management students.

But these are not the only linkages that ABSA Bank has formed with Lovedale. ABSA Bank visits campuses during the early part of the year to open student bank accounts. The purpose is to educate students on how to manage money and save from an early age. The students also save on banking costs by opening student accounts.

In February 2018, Lovedale student Ayanda Maqoma Awethu represented the college and the Eastern Cape in the ABSA Bank and Awethu Project Entrepreneurial project. Although he did not win, ABSA Bank Regional Manager and Lovedale SRC members and Administrative Officer: WIL, Mr Endurance Osemwenkhae, were at the airport welcome him back. Maqoma described the experience as one of the best of his life.

Mr Endurance Osemwenkhae described the ABSA Bank linkages as good initiatives. “The Ready-to-Work project is really needed as support for the curriculum. WBE gives the learner experience of the workplace and we commend ABSA Bank for the professional risk that they are willing to take to help our students gain experience.”