More financially challenged students at the Malawi University of Science and Technology (MUST) are expected to receive support to stay in school after the university’s endowment fund received another major financial boost.
FDH Bank plc announced a K100 million contribution in Blantyre on Monday, marking its second donation to the MUST Endowment Fund after contributing K106 million in 2023 to help expand financial support for needy students.
Speaking during the presentation, FDH Financial Holdings Head of Marketing and Communication Ronald Chimchere said the bank remains committed to investing in the future of young Malawians through education.
“We have seen the impact this fund is making, and that is why we remain committed to supporting students. We believe education is key to national development, and we want to help students access the resources they need to complete their studies,” said Chimchere.
He said the bank plans to continue supporting the university through the endowment fund and other initiatives aimed at expanding access to higher education.
Outgoing MUST Vice-Chancellor Professor Address Malata thanked the bank for its continued partnership, saying the endowment fund has helped reduce the number of students dropping out because of financial challenges.
“The support from FDH Bank has enabled us to assist many needy students. Through the early invested money, we are also preparing to award scholarships to six students in November this year, which we are taking pride in and continuing to thank the bank for its continued support,” said Malata.
She said the scholarships demonstrate the impact the endowment fund is already making in helping students complete their studies despite financial difficulties.
FDH Bank previously contributed K106 million to the initiative in 2023, making this its second donation towards the fund.
Established in 2016, the MUST Endowment Fund has so far raised close to K12 billion to support financially vulnerable students and strengthen the university’s long-term sustainability.