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Graham Cheater's Fundraiser:

Chartered Accountants Academy Zimbabwe

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BENEFITING:

Graham Cheater

THE STORY:

1. LOCATION – Zimbabwe

2. PURPOSE – Scholarships for trainee certified/chartered accountants

3. REASON – Zimbabwe is in politically-induced economic recession. Unemployment is estimated at 90%.

There are over 7 500 accountancy students in Zimbabwe in 2013, almost all of them in employment. These students on average are earning less than US$500 per month before tax, from which they are usually supporting extended families
of up to 10 people, as well as striving to educate themselves and other family members.

Those same students have to pay professional registration fees and examination fees and consequently have nothing left for educational support programmes. Failure rates amongst such students without education support are usually 70% plus which means that much of the money spent on professional and examination fees is wasted.

4. SCHOLARSHIP FUND US$100 000 – The educational academy is making a contribution of 20% reduction of fees for every scholarship offered and accepted. The proposed scholarship fund would enable initially up to 300 students to obtain top-class educational support and material, thus increasing the pass rate to over 70% (based on past performances of education support programmes). This will significantly and meaningfully reduce the wastage of funds and increase the number of qualified accountants in the economy, a much-needed resource especially for the time when the economy starts to grow again.

The Fund proposes to request from scholarship beneficiaries a nominal (perhaps $10) monthly pledge to the Fund for a period of the scholarship beneficiary’s choosing thus enabling the Fund to continue to offer more scholarships.

Assuming the scholarship fund materialises, and assuming pledges of US$10 per month for say 24 months, the fund is anticipated to be self-sustaining in 2016, after which additional scholarships - internally generated - can be offered.

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Graham is working on selecting a charity so you can support Chartered Accountants Academy Zimbabwe.