South African Reserve Bank

About the South African Reserve Bank

The South African Reserve Bank, or SARB, is the country's central bank. It has been in operation since 1921, and its head office is in Pretoria. The Bank sets and carries out monetary policy, issues banknotes and coins, and works to keep the financial system stable. Because of this work, it employs one of the largest groups of professional economists and statisticians in the country.

Economists are scarce in South Africa. The Bank therefore invests in the next generation of them, long before they enter the job market.

How the Reserve Bank supports students

The SARB runs an external bursary scheme through its Economic Research Department, together with the SARB Academy. It supports students who are starting an undergraduate degree in economics, economics and econometrics, economics and mathematical statistics, or economic science. The Bank gives priority to learners from disadvantaged backgrounds who can show strong marks and real financial need.

Recent calls asked for provisional acceptance at a university, an average of 70% or more, and at least 70% for English and Mathematics. Applicants had to be younger than 30. In effect, the Bank reaches back to the first-year entry point, instead of waiting to compete for graduates.

The scheme is aimed at school leavers, and it focuses on economics. Other degrees, such as general commerce or accounting, are not the target. If you enjoy mathematics and want to understand how interest rates, inflation and currencies work, this is a strong option.

What to know before applying

Calls for the following year have recently opened in the middle of the year and closed at the end of September. The application window for the 2027 intake closed on 30 September 2026. Plan to apply earlier next time. Submit your matric results, proof of acceptance and any supporting documents. The Bank has used an outside bursary administrator to receive applications by post, email or an online portal, so use only the channels in the official advert.

Shortlisted candidates are interviewed, and successful students sign an agreement with the Bank. Read it closely. Public information does not describe a formal work-back obligation to join the SARB after you graduate. However, the terms can change, so confirm them directly with the Bank before you accept an award.

Keep a copy of every document you send. Also watch the Reserve Bank website and national government news channels for the next call, which usually appears around the middle of the year.