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Unprivileged students to benefit from SU bestowed funds

───   15:15 Thu, 29 Jun 2017

Unprivileged students to benefit from SU bestowed funds | News Article

The Stellenbosch University (SU) has received one of the largest donations from an individual amounting to R194.6 million.


The university’s Rector and Vice-Chancellor, Wim de Villiers, in a statement said this is one of the most significant donations the University has ever received from one individual. He added that the donation from the late Dirk Ackermann will greatly benefit prospective students throughout the country. Ackermann, who passed away years ago, donated R8.4 million to the University in 2006 in the form of a share portfolio, and the value of these shares has since accumulated to R194.6 million. Villiers said the university is very grateful for this donation.

The University will use this donation to establish the DW Ackermann Bursary Fund to benefit deserving students in the electronic and electrical engineering disciplines, invest the capital accordingly, and use the annual income for bursaries, which are to be awarded in terms of the criteria as set out in Ackermann’s will.

Hugo Steyn of the University’s Development and Alumni Relations Division said the funds will be available soon and, after consultation with the faculty, they would be able to award bursaries from 2018.

He added that “the fund will be managed as an endowment fund and will be sustainably used to benefit many students in future.”

The total donations to the university in 2016 were up 53% from the previous year, and also exceeded donations received in 2014.

The university also added that the number of students who receive financial assistance is increasing. In 2014, 38% of students were assisted, while last year, 41% of the students were from the so-called missing middle, and at the beginning of this year, the university received R1,1 million in philanthropic donations, specifically earmarked for addressing the financial need among students.

The university says any donation from potential donors who have an interest in continued student success is welcome.


OFM News/Katleho Morapela



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