The South African Reserve Bank (SARB) is offering full scholarships to South Africans starting a Master’s degree in 2027 in data science, machine learning or artificial intelligence, with a focus on financial analytics. SARB runs this scholarship with the Data Science Academic Committee of the National Graduate Academy for Mathematical and Statistical Sciences, known as NGA(MaSS). Applications close on Saturday, 31 October 2026.
This is a postgraduate award. School leavers looking for Reserve Bank funding for a first degree need the SARB External Bursary Scheme for undergraduates, which is a separate programme with different rules.
The nine Master’s programmes SARB will fund
The scholarship only applies if you are provisionally accepted into one of the programmes on SARB’s list:
- North-West University: MSc in Business Mathematics and Informatics
- University of the Western Cape: MSc in Statistical Science specialising in Data Science, run with NWU’s Centre for Business Mathematics and Informatics
- MSc in eScience, offered across Wits, the University of Pretoria, NWU, the University of Venda, the University of Limpopo and Sol Plaatje University
- Stellenbosch University: MSc in Machine Learning and Artificial Intelligence, and MCom in Financial Risk Management
- University of KwaZulu-Natal: MSc in Data Science
- University of Pretoria: MIT in Big Data Science, and MCom in Advanced Data Analytics
- University of Cape Town: Master’s in Analytics or Data Science
Whichever programme you choose, SARB expects your module selection to include financial analytics topics.
Honours average, citizenship and age
- A relevant Honours degree with an overall average of at least 65%
- Full-time registration for the Master’s
- South African citizenship
- Younger than 35
Scholarship holders may also have to attend workshops set by SARB and NGA(MaSS) as part of accepting the award.
Applying online with code SARBDSM27
SARB takes applications for this scholarship online only, through its Reserve Bank bursary application system. Quote the promo code SARBDSM27 and upload your Honours or latest academic results, your university student number as proof that the Master’s programme has accepted you, and other documents that back up your application. The Reserve Bank will not consider applications that arrive after 31 October 2026. Read the full conditions in SARB’s 2027 data science scholarship advert (PDF).
Interviews, an agreement and a December results deadline
SARB interviews shortlisted candidates, and each scholarship holder signs an agreement with the Reserve Bank. SARB also requires bursary holders to submit their examination results before Thursday, 31 December 2026, whether or not they receive an award for the following year. SARB calls the award a full scholarship, but the advert does not itemise what it pays for, so confirm the cover in the agreement.
Other funding for a Master’s in a quantitative field
Because SARB names a short list of programmes, students on other research Master’s degrees should look at DSI-NRF postgraduate funding and the wider postgraduate bursaries list.
Can I apply if my Honours results are not final yet?
SARB asks for examination results with the application and requires a 65% Honours average, so submit your latest results by 31 October 2026. Bursary holders must then send examination results before 31 December 2026.
Can I study part-time while working?
No. The Reserve Bank’s advert requires scholarship holders to be full-time students.