National Bank of Malawi (NBM) has assisted 16 needy students at Mzuzu University (Mzuni) who were on the verge of dropping out due to lack of fees.
Mzuni has a high number of learners dropping out due to financial constraints.
In 2015 alone, over 100 students lost their space at the university.
To roll back the figures, the bank has supported second-year students with tuition fees worth K1.05 million each.
Speaking when he presented the cheques on Tuesday, NBM chief executive officer Mcfussy Kawawa said the bank prioritises education and it is always painful when students’ dreams are shattered because no one came to their rescue.
“Without education, we will be doomed as a nation. Education is key to the success of any country. As National Bank, we want to be associated with the success that comes as a result of promoting education,” he said.
Kawawa urged the students to work hard and desist from unruliness to retain the scholarship.
The bank also awarded five best performing students at the university. Each student went away with visa cards loaded with K250 000.
Mzuni Students Representative Council (Musrec) president Wazamazama Katatu thanked the bank for weighing in at a time students in poverty are not assured of staying in school until they achieve their dreams.
He said fewer needy students have access to State-sponsored loans for higher education.
Mzuni acting vice-chancellor Simeon Gwayi asked more firms to assist the university reduce the number of students quitting on financial grounds. n