Managing Director for the company, Phillip Schack made the pledge during a two-day conference held from 22 to 23 January at the MUBAS main campus in Blantyre, where 7 beneficiary students presented their business ideas to the sponsor as part of a mentorship and coaching initiative.

Speaking in an interview, Schack said the support goes beyond financial assistance, as Magnus Holding aims to prepare students for professional careers in entrepreneurship.

“Apart from supporting these students to find their way into professional business careers as entrepreneurs through new start-up ideas, we are willing to continue financing their education because this aligns with the strategic objectives of our company,” said Schack.

Speaking on behalf of the university, Director of Student Affairs, Dr. Gertrude Sitolo, expressed gratitude to Magnus Holding, saying that the scholarship has significantly eased challenges faced by students.

She further commended the organisation for incorporating business mentorship and coaching into the programme, as it 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,” said Sitolo.

One of the beneficiaries, Ezra Chisasa, a fourth-year Business Administration student at MUBAS, described the scholarship as life-changing.

“Since we started receiving the scholarship, our stay at MUBAS has been eased,” said Chisasa.

“The mentorship and coaching we are receiving during this two-day conference will greatly improve our business ideas and entrepreneurial skills,” he added.

The Magnus Scholarship Programme is a fully funded initiative that caters for both tuition fees and living expenses. Approximately over MK40 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. The conference was organised specifically to mentor students in their respective business case development.