The Malawi University of Science and Technology (MUST) today officially launched a students’ scholarship scheme under the MUST Endowment Fund (MEF).

The scholarships aim at providing financial support to students struggling to meet financial requirements of their studies. 

The MEF, established in 2021 with an initial investment of K1.3 billion, has now grown to K4.1 billion, demonstrating the university's commitment to making quality education accessible to all.

The scholarships follow the maturity of the initial MEF investment, whose maturity was expected within four years. The scholarships are supported by a fraction of the interest earned from the MEF investments.

Guest of honour and chairman of the MEF, Boyd Luwe, highlighted MEF's objective of creating a sustainable source of support for students and other university wide activities. 

"We are proud to launch this scholarship, which will provide a safety net for students in need, allowing them to focus on their studies without financial burdens," he said.

And speaking on behalf of the Vice Chancellor, Dr Wilfred Kadewa, Executive Dean of the Ndata School of Climate and Earth Sciences at MUST, emphasized the fund's significance in bridging the financial gap for needy students. 

The first cohort of the beneficiaries consists of 460 students pursuing different programmes at MUST.

The launch ceremony was attended by officials from the financial sector that supported the initiative including Philip Madinga, CEO of Standard Bank, who expressed his bank's support for the initiative. 

"We believe in the power of education to transform lives and communities, and we are proud to partner with MUST in this endeavour," he said.

Anastanzia Mwamadi, a third-year student and beneficiary of the scholarship, expressed her gratitude to MUST and its partners. 

"This scholarship has given me a second chance to pursue my dreams, and I am committed to making the most of this opportunity," she said.

The event was graced by the presence of representatives from the private sector, MUST staff, students and other organisations that have supported the MEF. 

To-date, Illovo Malawi plc remains the biggest sponsor for the MEF with a K500 million investment.

The event was spiced up by a performance from the MUST Orchestra.

The MEF is a testament to the university's commitment to inclusivity and academic excellence. 

As the MEF continues to grow and giving birth to students’ scholarships, it is expected to make a significant impact on the lives of students and the broader community.