First Capital Bank Limited (FCB) Zambia and the Higher Education Loans and Scholarships Board (HELSB) have announced a memorandum of understanding aimed at providing student loans to Copperbelt University students as the entities champion education. Students will benefit from scholarship coverage for their third and fourth years of study.
Speaking on the collaboration, First Capital Bank Limited Chief Executive Officer, Andre Potgieter said, “We are delighted to announce this collaboration with the Higher Education Loans and Scholarships Board aligned with our commitment to create lasting positive impact in our communities.”
“As a proudly Zambian Bank that has been operating in the country for over 10 years, we continue to complement government efforts and see ourselves as a part of the solution to societal challenges like access to higher education that empowers the future generation.” Said Potgieter.
He added that over the last 6 years, First Capital Bank Limited has also been running a Graduate Trainee Program that integrates Copperbelt University and other University students into the Bank and more than 30 students have been on-boarded into the Bank.
The First Capital Bank Limited Graduate Trainee Program is open to high-performing Copperbelt University and other University students who join the Bank to have their talent nurtured through a well-structured career development program.
Commenting on the student loan scheme, Higher Education Loans and Scholarships Board Chief Executive Officer, Dr John Machayi said, it is gratifying to see entities like First Capital Bank agree to positive collaboration for the advancement of education in the country.
He said currently HELSB depends on funding from the Ministry of Finance and National Planning as appropriated by Parliament and loan recoveries from student loan beneficiaries.
“Over the years, the increased demand for higher education has not matched funding from the Treasury thereby creating pressure on the Board to source alternatives. We would like to thank First Capital Bank Limited and our co-operating partners supporting us in different initiatives as we call upon other organizations to emulate this value-adding initiative’’. He said.
