INSEAD today announced a new scholarship fund honouring the life and work of former President Nelson Mandela of South Africa. The endowed fund will provide financial support in perpetuity for African participants studying for an MBA (Master of Business Administration) at INSEAD. Its purpose is to promote economic growth in Africa through improved management expertise.
The scholarship fund was provided through donations by graduates of the MBA class of 1975, who raised half a million euros. The endowment will provide scholarships totalling €20,000 per year in perpetuity.
INSEAD will award the first scholarships for the August 2006 MBA intake.
“We firmly believe that, over time, increased African representation at INSEAD will make a real contribution to African development and to closer economic integration between Africa and other regions of the world,” says Russell H. Pollack, chair of the fundraising committee and a member of the MBA class of 1975.
“Sound management education can harness Africa’s entrepreneurial culture,” comments Nelson Mandela, in support of the project. “I embrace INSEAD’s academic rigour and diversity, which will equip our scholars with the right management skills to drive Africa’s economic development. My hope and belief is that they will inspire a strong, globally integrated Africa."
“When you wonder whether investing in INSEAD participants makes sense,” adds Taz Chaponda, a current MBA participant from Malawi, “then consider that many of us will go back to our regions because we want to be a catalyst for development.”
Candidates can apply for the scholarships upon admission to the INSEAD MBA programme. To be eligible for an INSEAD Nelson Mandela Scholarship, candidates must be nationals of a sub-Saharan country. They must also have lived there for a substantial part of their lives and received part of their prior education in Africa. Preference will be given to candidates who can present proof of financial need and who have a commitment to the future development of their country.
Fundraising from individuals and corporations with an interest in Africa is continuing, with a view to increasing the number of scholarships available in future years.
Nelson Mandela backs INSEAD initiative for African MBA scholarships
About INSEAD, The Business School for the World
As one of the world’s leading and largest graduate business schools, INSEAD brings together people, cultures and ideas to develop responsible leaders who transform business and society. Our research, teaching and partnerships reflect this global perspective and cultural diversity. Our global perspective and unparalleled cultural diversity are reflected in our research, teaching, partnerships; as well as in our alumni network of over 71,000 members spanning 172 nationalities.
With locations in Europe (France), Asia (Singapore), the Middle East (Abu Dhabi), and North America (San Francisco), INSEAD's business education and research spans four regions. Our 160 renowned Faculty members from 38 countries inspire more than 1,500 degree participants annually in our Master in Management, MBA, Global Executive MBA, Specialised Master's degrees (Executive Master in Finance and Executive Master in Change) and PhD programmes. In addition, more than 18,000 executives participate in INSEAD Executive Education programmes each year.
INSEAD continues to conduct cutting-edge research and innovate across all our programmes. We provide business leaders with the knowledge and awareness to operate anywhere. Our core values drive academic excellence and serve the global community as The Business School for the World.
Contacts for press:
| Aileen Huang Tel +65 9008 3812 Email: [email protected] | Cheryl Ng Tel +65 8750 0788 Email: [email protected] | Gwenaëlle Hennequin Tel +33 6 15 12 10 86 Email: [email protected] |
