10th birthday of the Mandela Rhodes Foundation Wednesday, 14 August 2013 There was good reason to celebrate the 10th birthday of the Mandela Rhodes Foundation on the weekend of 26-28 July. At a gala event held in Cape Town’s city hall, a massive R106 million (US$10.8 million) was pledged to the foundation’s scholarships. This will be added to the R350 million endowment already raised over the past decade. The Mandela Rhodes Foundation, or MRF, was established in 2003 as a partnership between the Rhodes Trust and Nelson Mandela. Scholarships are open to citizens in any African country for postgraduate study at a recognised South African university – honours and masters degrees only, at present. The Mandela Rhodes scholarships aim to help in building leadership excellence in Africa, and the foundation offers young Africans who exhibit academic prowess as well as broader leadership potential an educational opportunity unique on the continent. Targets exceeded The chair of the board of trustees, Njabulo Ndebele – an author and former vice-chancellor of the University of Cape Town – said the foundation had exceeded the targets it had set 10 years ago. Since the foundation’s inception, 200 Mandela Rhodes scholarships had been awarded to students from 17 African countries. And the initial goal of R350 million for a sustainable endowment had been achieved and exceeded. He said that in less than three weeks, the MRF had risen to the challenge set by former Rhodes scholar, entrepreneur-philanthropist John McCall MacBain, who is also an MRF trustee, who had committed to pledging a maximum of R50 million – pending the MRF team’s ability to raise at least R25 million in new donations by the day of the event. Before the cut-off, the team had raised R37 million from companies Remgro, Northam Platinum, Sibanye Gold, BAT, Absa, the Friends of the MRF and the EGG Foundation. In a surprise announcement at the event, McCall MacBain and David Cohen – a former Rhodes scholar, South African business figure and MRF founder donor through the Friends of MRF USA – announced that they would raise the R87 million to R100 million. Within minutes businessman, former Rhodes scholar and MRF selection committee member Isaac Shongwe pledged to establish a further Mandela Rhodes scholarship, to bring the grand total of new gifts announced on the evening to R106 million. Nurturing brilliant young minds Ndebele said that for the past 10 years, the foundation’s aim had been “to seek out and nurture those brilliant and ethical young Africans we believe will be doing their best to emulate our patron, Nelson Rolihlahla Mandela. “Seventy percent of all our Mandela Rhodes scholars are gathered here tonight. That is an extraordinary turnout of alumni by any standards in the world, and I think it speaks volumes about the quality of the great African scholarship programme and leadership development institution we have built and are building.” Ndebele said it was wonderful to welcome the Mandela Rhodes classes of 2005-12, and “the freshly minted class of 2013”. “We have built an African organisation that can hold its head high in comparison with any other congruent institution in the world,” he continued. “We truly believe we are delivering on our mandate to develop leadership excellence in Africa, and that among our scholars are the great future leaders of the continent.” Ndebele added that when the Rhodes Trust announced its benefaction of £10 million (US$15 million in today’s terms) to get the MRF under way, the challenge had been to raise a further £20 million. “We have passed that target, meaning that the Mandela Rhodes scholarships programme is sustainable in perpetuity at its current level, which sees more than 40 Mandela Rhodes scholars in residence this year.” The foundation now had more than R350 million invested in its endowment, “before taking into account existing further pledges”. Ndebele paid homage to various major donors, including chair of the Rhodes Trust Dr John Hood, former chair Lord Waldegrave and Dr John Rowett, former warden of Rhodes House in Oxford, who were instrumental in bringing the MRF into being. Professor Gordon Marshall, executive director of the Leverhulme Trust, which has committed £5 million to the scholarship programme, was also singled out for thanks, as were CEO of Oxford University Press Nigel Portwood and Lieze Kotze, OUP’s regional director for east and southern Africa. The publishing company has already committed close to R40 million, and continues to contribute each year. Ndebele thanked Ian Glenday, president of the Friends of the MRF USA, which has contributed more than R30 million so far, and Glenday’s fellow director, Rhodes scholar David Cohen, who was the foundation’s first breakthrough donor, with a pledge of US$5 million in 2003. De Beers and Anglo American were mentioned for their sterling support, as was the Royal Embassy of Norway, which was represented at the event by Ambassador Kari Bjornsgaard. And Ndebele thanked Old Mutual, the event sponsors, who had also established scholarships. Based on the success of the first decade, the board of trustees has mandated the foundation’s leadership to investigate the feasibility of doubling the numbers of Mandela Rhodes scholars in the coming years, thus dramatically expanding the foundation’s activities. -- University World News
Posted on: Wed, 14 Aug 2013 13:22:12 +0000