By Patrice Williams Chapasuka:
German firm Family Office Magnus Holding has reaffirmed its commitment to supporting 14 students at the Malawi University of Business and Applied Sciences (Mubas) through a scholarship programme that covers tuition and cost-of-living expenses.
Family Office Magnus Holding Managing Director Phillip Schack made the pledge during a two-day conference held from January 22 to 23 at the Mubas main campus in Blantyre, where seven beneficiary students presented business ideas to the sponsor as part of a mentorship and coaching initiative.
Speaking in an interview, Schack said the support went beyond financial assistance, as Magnus Holding was committed to preparing students for professional careers in entrepreneurship
“Apart from supporting these students to, through new start-up ideas, find their way into professional business careers as entrepreneurs, we are willing to continue financing their education because this aligns with the strategic objectives of our company,” Schack said.
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Speaking on behalf of the university, Director of Student Affairs Dr. Gertrude Sitolo expressed gratitude to Magnus Holding, saying the scholarship had “significantly” eased challenges faced by students.
She further commended the organisation for incorporating business mentorship and coaching into the programme, as this aligns with the core value of the university.
“Our goal is to produce graduates who are entrepreneurial in mindset and capable of creating jobs rather than only seeking employment for themselves,” Sitolo said.
One of the beneficiaries, Mubas fourth-year Business Administration student Ezra Chisasa, described the scholarship as life-changing.
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“Since we started receiving the scholarship, our stay at Mubas has been eased,” Chisasa said.
“The mentorship and coaching we are receiving at this two-day conference will greatly improve our business ideas and entrepreneurial skills,” he said.
The Magnus Scholarship Programme is a fully funded initiative that caters for both tuition fees and living expenses.
Approximately K40 million is allocated per academic year to support the students.
As part of the programme, beneficiaries are required to develop business ideas and present them to their sponsor
