NEDBANK Zimbabwe invested US$84 645,50 in 2024 to support 42 university students across the country through its STEM Scholarship Fund, a corporate social investment initiative designed to develop skills in science, technology, engineering, and mathematics (Stem).
The scholarship covered tuition, accommodation, and academic resources, enabling the financially disadvantaged yet talented students to pursue careers in crucial fields such as engineering, information technology, and biotechnology.
This initiative aligns with Zimbabwe’s National Development Strategy 1 and global Sustainable Development Goals (SDGs) 4, 8 and 17, positioning the bank as a key contributor to fostering a knowledge-driven economy.
“The scholarships are a sustainable intervention aimed at uplifting the livelihoods of Zimbabweans through various initiatives across our business units,” the bank said in a statement.
“In support of national priorities for human capital development and SDG Goals 4, 8 and 17, which focus on achieving quality education, decent work, economic growth, and partnerships for growth, the Bank is currently supporting science university students through scholarships.
“Forty-two students from across Zimbabwe have benefitted from the 2024 allocation, totalling US$84 645,50.”
These students were receiving annual sponsorship towards their Stem university education since their first year, with some medical students graduating in 2025 after seven years of Nedbank sponsorship.
Hence, over the past five years, a total of over US$500 000 has been invested into the scholarship fund.
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One of the scholarship’s key beneficiaries, Chelsea Chikosi, now a medical doctor, shared how the Nedbank Scholarship Fund played a pivotal role in helping her achieve her academic and career goals by alleviating financial stress.
“Being a recipient of the Nedbank Scholarship Fund played a crucial role in helping me achieve my academic and career goals by alleviating financial stress,” she said.
“Without the burden of tuition fees and other educational expenses, I was able to dedicate more time to my coursework.
“Additionally, the support provided by the bursary motivated me to work harder. I remember Hester from Nedbank always waiting for our results at the end of each semester ... she really pushed me to aim for good grades.”
She said handing her a script with low grades was definitely not an option.
“I am truly grateful for the investment in my future, as it has set a solid foundation for my professional growth,” Chikosi added.
Chikosi graduated from the University of Zimbabwe with a Bachelor’s Degree in Medicine and a Bachelor’s Degree in Surgery in December 2022.
She recently completed her internship at United Bulawayo Hospitals and is now pursuing specialisation in surgery with the College of Surgeons of East, Central and Southern Africa.
Since its inception, the Stem Scholarship Fund has supported 32 medical students, with 13 having successfully graduated by end of 2024, with four expected to graduate by December 2025.
Among them, four out of eight female graduates and three out of five male graduates are now employed in Zimbabwe’s healthcare sector.
These graduates are currently serving at key medical institutions, including Parirenyatwa Group of Hospitals, Chitungwiza Central Hospital, United Bulawayo Hospitals, and St Luke’s Mission Hospital in Bulawayo.
Some of the areas of studies pursued with support from the scholarship fund include biomedical sciences, architecture, actuarial science, chemical engineering, electrical & electronics engineering, pharmacy, plant production, and technology, among others.
Nedbank now plans to expand the programme by increasing the number of beneficiaries and investing in science-based school infrastructure.
The bank is also strengthening partnerships with universities and research institutions to support innovation and technology-driven solutions.
In addition to the scholarship programme, Nedbank offers internship opportunities for Stem students to gain practical industry experience, mentorship programmes connecting students with industry professionals, and financial literacy training to equip young people with essential money management skills.
By prioritising Stem education, Nedbank is positioning itself as a key player in shaping the country’s knowledge-based economy.
