Old Mutual Investment Group (Omig), a subsidiary of Old Mutual Malawi Group, on Wednesday rescued nine needy College of Medicine (CoM) students when it offered them scholarships worth K2.5 million.
Omig Head of Portfolio Investment, Mphatso Kasalika, said his firm decided to help the students after receiving an appeal for help from the college.
Kasalika said Omig is committed to improving the welfare of communities in which it operates.
“We believe education is the backbone of any economy. That is why we decided to contribute towards the development of education in the country.
“We also believe that, through this contribution, we are also helping in improving the country’s health sector,” Kasalika said.
CoM Principal, Mwapasa Mipando, hailed Omig for the support.
Mipando said the college has a number of students who are struggling to meet their tuition a well as accommodation needs.
He said, though the Higher Education Students’ Loans and Grants Board, gives assistance to needy students, most of them do struggle as they only get partial scholarships.
“You will find that, at times, they may only get loans to cover their tuition and they have to find their own accommodation. This presents a very big challenge, especially to girls who are vulnerable,” Mipando said.