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ABSA AND NWU'S CENTRE FOR BMI SIGNS CONTRACT
Absa has signed two contracts with the Centre for Business Mathematics (BMI), of the Northwest-University's PUK-campus, illustrating their ongoing support for the organisation.
According to a press release, the contracts were signed on 13 February by Mr Lawrence Mlotshwa, on behalf of Absa, and professor Annette Combrink, on behalf of NWU.
The first contract is a bursary contract to the value of R1,475 million per year, for 5 years.
Mlotshwa, Absa's organisation development director, said the following: “BMI training is of strategic importance to Absa and the financial industry in general. The training that BMI students receive, is excellent as observed through the quality of the work that BMI graduates deliver in Absa, and nowadays, in Barclays. Through the renewal and extension of the bursary contract, we want to ensure a constant talent pipeline of highly qualified professionals who will contribute to the betterment of South Africa.”
The release further states that the second contract stipulates Absa providing operational support for the activities of the Centre for BMI to the value of R2 million per year, for 5 years. The Centre will conduct research in the area of financial risk management and analysis.
Dr Neels Erasmus, Absa's general manager, ERM risk support, said: “The Centre for BMI was founded in 1998 as a joint initiative by Absa and the erstwhile Potchefstroom University for CHE, in order to establish a Centre of Excellence in Financial Risk Management. We regard the investment as a resounding success as portrayed by the quality of the BMI training programmes and the achievements of the risk analysis research programme. By signing this contract, Absa wants to support practical industry directed risk/reward management and analysis research in South Africa.”
The Centre's director, professor Riaan de Jongh, was honoured that Absa decided to support them again: “Without the support of Absa, and other industry partners like SAS, the Centre for BMI would not be sustainable in its current form. Contributions by industry are necessary to ensure high quality training and research.” |
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