CPUT and BANKSETA address historical student debt challenges

In a celebration of determination and achievement, the Advancement Department recently hosted the BANKSETA Certificate Handover Ceremony at the Iziko Museum, Company Gardens, honouring graduates whose academic journeys have been empowered by the generous support of BANKSETA.

This remarkable event marked the successful partnership between BANKSETA and CPUT, addressing the significant challenge of historical student debt. Advancement Department Director, Mandla Maseko, noted that through the project, BANKSETA approved R12.2 million, of which R11.6 million was allocated directly towards settling the historical debt of qualifying CPUT students. “The intervention enabled students who had successfully completed their qualifications but had outstandin

g debt to have that debt settled and, importantly, to gain access to their certificates.”

Maseko continued: “The ceremony was therefore much more than a certificate handover. It represented the removal of a barrier that had continued to affect graduates even after they had successfully completed their studies. Without their certificates, some graduates may experience difficulties when applying for employment, seeking promotion, pursuing postgraduate studies or demonstrating their qualifications to prospective employers.”

At the event, BANKSETA Board Chairperson Dr Ntombana Sekgaphane delivered a keynote address that highlighted the vital importance of partnerships. Sharon Cuff, Manager of Group Skills Development at Discovery Limited, shared the inspiring industry perspective on the essential skills graduates need for success in the banking sector.

Maseko said the event had three main objectives:

• To formally recognise and celebrate the beneficiaries.
• To demonstrate the impact of the BANKSETA–CPUT partnership.
• To highlight the importance of partnerships between universities and external stakeholders in addressing student financial challenges and improving graduate outcomes.

Lolwethu Luthuli, a lecturer in the Faculty of Business and Management Sciences and CPUT Convocation Executive Fundraising, Partnership and Engagement leader, spoke

passionately about partnerships, saying that, for Convocation, this partnership is bigger than the certificates, “we are handing over today”. “It is about the kind of country we are trying to build”.

“South Africa does not have a shortage of talented young people. We have young people who have done the work, completed their qualifications and are ready to contribute, but too many remain outside the economy because financial circumstances continue to stand between them and opportunity,” she noted.

The intervention supported 141 beneficiaries from a range of academic programmes at CPUT, whose outstanding debt was settled. The ceremony brought together beneficiaries of the project for the formal handover and celebration of their qualifications.

These qualifications are especially relevant to BANKSETA's mandate since they develop skills necessary for banking, financial services, and the increasingly digital economy, including ICT, auditing, accounting, management, entrepreneurship, and business administration.

Luthuli noted that Convocation understood that historical student debt is not simply a university challenge. “It is a national development challenge. Every qualified graduate who cannot fully participate in the economy represents skills that South Africa has invested in but is not yet benefiting from. “And this is where partnership becomes powerful. When CPUT, Convocation, the Advancement Department and BANKSETA come together, we are not simply settling debt. We are unlocking human capital. We are giving the economy access to skills. We are giving families an opportunity to change their economic circumstances. And we are strengthening the very industries and communities that our graduates will go on to serve…”

Addressing the graduates, Maseko said the certificate they received is not simply a piece of paper; “it represents years of sacrifice, resilience and achievement. Financial circumstances may have delayed their ability to hold that certificate in their hands, but they did not diminish the academic achievement behind it.”

Written by Aphiwe Boyce
Email: BoyceAp@cput.ac.za