Nedbank Namibia launches education trust to fund employees’ and dependents’ studies across SADC

NedbankNamibia has launched the NedNamibia Holdings Education Trust to provide financial assistance for employees and their dependents pursuing higher education in the Southern African Development Community (SADC) region.

The initiative, which was launched on Monday, will support the education of 23 beneficiaries this year.

The trust will be managing shares and investments to generate income which will be used to provide financial assistance to qualifying employees and their dependents.

The funding will be available for any field of study at accredited institutions across the SADC region.

NNH Group Remco chairperson Florentia Amuenje highlighted the hope that the initiative will empower individuals and communities.

“For us at Nedbank, this initiative is more than just a way to strengthen our human resources strategy and retain employees. It is to capitalise on the profound transformational power of education and to create a lasting impact for the beneficiaries,” she said.

Amuenje said there is an urgent need to make higher education accessible in Namibia. She said the enrolment in such institutions stands at just 28.89%, significantly lower than the global average of 40%.

Meanwhile, individuals with higher education are 24% more likely to secure employment.

“This is where the NNH Education Trust comes in. The founders recognised this need and established the trust to offer financial assistance to our staff and their dependents who wish to pursue tertiary qualifications,” she said.

This year’s beneficiaries come from around the country and will be able to pursue their studies in a variety of fields from microbiology to cybersecurity and banking finance.

“We firmly believe investing in our employees not only fosters individual growth, but also drives organisational success,” Bianca Muller, Nedbank Namibia’s human resources executive said at the launch event.