South African Reserve Bank

The South African Reserve Bank (SARB) is the country's central bank, responsible for setting and implementing monetary policy, issuing currency, and safeguarding the stability of the broader financial system. Based in Pretoria, the SARB has served as South Africa's central bank since 1921 and, in that capacity, employs one of the country's largest concentrations of professional economists, statisticians, and financial-sector specialists.

The Bank's External Bursary Scheme is run by its Economic Research Department in partnership with the SARB Academy, and is aimed specifically at addressing South Africa's shortage of skilled economists. It funds students entering undergraduate study in economics, economics and econometrics, economics and mathematical statistics, or economic science, prioritising applicants from disadvantaged backgrounds who show strong academic performance — typically a 70% average, including in English and Mathematics — and demonstrated financial need. In effect, the scheme functions as a deliberate pipeline-building exercise: rather than compete only for graduates already in the market, the SARB reaches back to first-year entry point to help shape the supply of economists the country, and the Bank itself, will need in future.

Publicly available information about the scheme does not describe a formal work-back obligation requiring recipients to join the SARB after graduating; applicants should confirm the current terms and conditions directly with the Bank before assuming any such requirement applies.