Some female students from well-to-do families at the School of Finance and Banking (SFB) accessed the Goldman Sachs bursary scheme, funds meant only for needy students, The New Times can reveal.

Goldman Sachs, is a leading global investment banking, securities and investment
management firm, and has embarked on a campaign to empower women in developing countries through business education.

"We shall try to be careful next time. Students used to go to the former Rector, Krishna Govender and tell him lies,” Rogers Muragije, SFB director in charge of administration and finance said.

 "Some of these students who say we are not giving them their money are coming from rich families. They are not honest.”

The new development comes following recent allegations by student beneficiaries that they were not being given their allowances that they are allotted by Goldman Sachs.

According to Muragije, Goldman Sachs only sent money to keep the thirty students at school "but not spending it on luxurious things.”

Students who spoke to The New Times last week but preferred anonymity had claimed each student is entitled to about $2800 (Rwf1.6m) by Goldman Sachs but the fate of half the money is not known.

The initiative seeks to equip 10,000 women in developing countries with business skills and Rwanda is one of the beneficiaries.

Since it started operating in Rwanda a year ago, it has so far enrolled 30 students on a degree course at SFB.

Ends