Yale University President Peter Salovey has announced there will be new scholarships for African students who wish to pursue an MBA course at the revered university.
The Yale School of Management (SOM) will award two scholarships worth between US$70,000 and US$140,000 for budding African leaders who wish to study at the prestigious school before returning to better the economy in their home nations.
“Yale, our partner institutions, and even the world benefit immensely from our collaborations with people and organizations on the continent.”
The Yale-Africa Impact Scholarships will cover at least half of the tuition costs for full-time MBA students.
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These are not the first initiatives in place to encourage more students from Africa to become involved in Yale SOM life. Already the school has a partnership with the Harambe Entrepreneurship Alliance, where each year one African entrepreneur student is awarded a full-tuition scholarship.
Yale has strong ties to Africa with 32 students already enrolled across Yale SOM courses and its Africa Business Club running to connect students. SOM students from all over the world often have opportunity to visit, study and work in various regions across Africa.
This year, Yale ran a ‘Design as Utility’ course in which students researched the water shortage crisis in Cape Town in South Africa, before traveling there this month to work toward solving it.
The International Experience programme, launched in 2007, has also provided students with a means to better life in Africa offering learning and research experiences in Egypt, Ghana, Namibia and South Africa. The Global Social Entrepreneurship course also enables teams of Yale students to work in Ghana and South Africa through collaboration with non-profit organizations in the area.
Yale SOM is well connected to four peer business schools in Africa – Lagos Business School in Nigeria, Strathmore Business School in Kenya, University of Cape Town Graduate School of Business in South Africa, and the University of Ghana Business School – through the Global Network for Advanced Management. The network connects students with member schools allowing them to take part in an exchange.
“We’re excited to strengthen our ties with the continent of Africa,” Acting Dean Anjani Jain said. “Yale SOM’s mission-driven approach to leadership, as well as our global reach and close bonds with our home university, make this program the ideal launching pad for young professionals who want to create economic value and new opportunities for those around them.”
Candidates for the Yale-Africa Impact Scholarships will be selected based on their academic capabilities and commitment to benefitting Africa upon their return. Those most likely to advance Yale SOM’s mission to educate leaders for business and society will be successful.
All students who apply and are accepted into Yale SOM’s full-time MBA program will be considered for the scholarships. After completing the MBA, Impact Scholars are expected to return to Africa to work for at least two years in a professional role that contributes to the continent’s development.
Currently more than 40 Yale SOM alumni live and work within Africa.