By | November 7, 2017

NUST signs Memorandum of Understanding (MoU) with the Central Bank of Namibia – Bank of Namibia to Host NUST Interns

Namibia University of Science and Technology (NUST) signs Memorandum of Understanding (MoU) with the Central Bank of Namibia


FROM LEFT: Dr Andrew Niikondo, NUST Deputy Vice-Chancellor: Academic Affairs; and Edson Uanguta, Deputy Governor, Bank of Namibia, posing for picture after signing the MoU.

Through the Centre of Cooperative Education Unit (CEU), NUST signed a Memorandum of Understanding (MoU) with the Bank of Namibia (BoN) recently. The MoU will enable students from the University to secure internships at the Bank as part of their Work Integrated Learning (WIL) course.

The BoN recently conducted a study on the financial sector with support from the Namibia Financial Institutions Supervisory Authority.

The Deputy Governor of the Bank, Edson Uanguta, said the study “comes at a time when the financial sector is impacted by a myriad of technological changes such as recent developments in governance, risk and compliance framework, competition, new organisational forms, increasing demands from consumers, issues of financial inclusion and evolving opportunities, and may I dare point out – threats.”

It is against this background, that training of students to aquire relevant skills is necessary.

Dr Andrew Niikondo, the NUST Deputy-Vice Chancellor: Academic Affairs, expressed his gratitude to the Bank for opening its doors to students.

“WIL is an integral part of the Curriculum model of the undergraduate programmes at NUST. Through this course students are accorded the opportunity to learn and apply their cognitive skills and knowledge in industry. It is an important part of teaching and learning progression and through this course our graduates pull together knowledge from the classroom and practical know-how from real work environment,” Niikondo said.

Since 2009, BoN has availed 20 internship opportunities and five scholarships in the fields of IT, Economics, Finance and Accounting to NUST students.