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BoN and IUM signs internship MoU

01/12/2017
by Staff report 
Education

The Bank of Namibia (BoN) and the International University of Management (IUM) have signed a Memorandum of Understanding to allow students to gain necessary job experiences through industrial attachments.

This MoU will enable students in their final year of study to get practical experimental knowledge annually, deputy governor of BoN Ebson Uanguta has said.

“The central bank has seen a need to give opportunities to students because if a graduate does not have job experience then automatically they do not qualify for positions. So it is a custom of the bank to invest in the future of our young leaders,” he said. 

He added that the central bank is committed to its social responsibility and paying back to the community through education shows that the bank is indeed in the right direction to shape the future of young Namibians.  

Students in different fields of study will be given an opportunity for internship at the bank. 

Speaking at the occasion, Professor Kingo Mchombu, said internships are a requirement of students at IUM.

“It is now a requirement at our institution that every student must have been on an internship program somewhere, depending on their field of study before they can actually graduate.”

“I am sure that it is safe to say that Bank of Namibia will be contributing towards the bright future of the students. IUM does not only offer students a chance to learn but also a chance to prepare themselves for work before they go into the real working environment after they have graduated,” he said. 

He added that in the past, finding internship was very hard for students but as years have passed, it has become easier because of MoUs signed with different institutions and corporate companies. 

IUM students based at the campuses in Walvis Bay; Nkurenkuru and Ongwediva will also benefit from the MoU signed between the two institutions, Mchombu said. 

“This memorandum of understanding will also benefit students that are not based in Windhoek and it all depends from them as students to work hard to be granted an opportunity by the bank as an intern. This is one of the greatest milestones IUM has achieved over the years,” he said. 

He added that IUM is still looking to find more institutions on board to allow students for internship at their respective institutions.