The Imfundo Trust is a shareholder of Old Mutual Investment Group, and since 2011 it has used that stake to pay for the university education of Black students who could become the next generation of investment professionals. Old Mutual Investment Group says the trust puts particular weight on young Black women from financially constrained backgrounds. StudyTrust runs the applications.
StudyTrust took applications for 2027 scholarships between 1 June and 30 September 2026, and now lists the Imfundo Trust Scholarship as closed for 2027. Old Mutual Investment Group’s own page simply asks students to apply before 30 September for funding in the following year, so expect the next call in mid-2027.
Who the Imfundo Trust has in mind
- South African citizens, with the trust’s focus on Black students and especially Black women
- Grade 12 learners, or students in their first year of university (who would be in second year when the funding starts)
- Postgraduates, but only in Climate Studies
- Applicants from rural areas and townships, who get preference
Marks the scholarship asks for
Grade 12 applicants need an average of at least 70% in the mid-year examinations, with at least 70% for Mathematics. For English, you need 70% if you take it as a First Additional Language, or 60% as a Home Language. University applicants need an average of 65% or more in their latest (mid-year) examinations.
Five study areas and six universities
The trust funds full-time study in:
- Business, Commerce, Finance and Management Sciences
- Computer Science and related qualifications
- Data Science
- Engineering
- Climate Studies (postgraduate only)
Old Mutual Investment Group names six partner universities: Stellenbosch University, the University of Cape Town, the University of the Witwatersrand, the University of Johannesburg, the University of KwaZulu-Natal and the University of Pretoria. Aim your university applications at these if you want Imfundo funding.
What an Imfundo scholar receives
Old Mutual Investment Group describes a full scholarship. It pays tuition, accommodation and books, and gives scholars a spending allowance. Scholars can use psychosocial support through ICAS, and from third year the trust adds a mentorship programme.
How to put in an Imfundo application
Apply on StudyTrust’s online platform, not to Old Mutual directly. The details sit on StudyTrust’s Old Mutual Imfundo Trust page, and the application itself starts from StudyTrust’s application page. StudyTrust’s general checklist asks for a certified ID copy, your academic records, proof of address, proof of household income and a head-and-shoulders photo. Read the trust’s background on Old Mutual Investment Group’s Imfundo Trust page.
Similar investment and finance funders
Investment firms run several comparable schemes. The Bateleur Capital Bursary comes from an asset manager, and the Investec Tertiary Bursary also funds matriculants through StudyTrust. Our commerce bursaries page lists the rest.
Can Indian and Coloured students apply for the Imfundo Trust Scholarship?
Old Mutual Investment Group says the trust supports Black students but does not break that term down on its page. StudyTrust’s criteria list only South African citizenship. Ask StudyTrust if you are unsure whether you fit.