The partnership, which was signed on Tuesday by former president Nelson Mandela and Oxford University's Vice-Chancellor John Hood, entails a 25,1% share transfer from Oxford University Press to the MRF.
This partnership will see at least 18 scholars benefit from financial and educational support within the first five years.
Mandela Rhodes Foundation chairperson, Professor Jakes Gerwel said in the long term, the partnership deal would build a permanent endowment to ensure that the Mandela Rhodes Scholarships continue to perpetuity.
"The foundation aims to have hundreds of scholars from around the African continent by 2012. In this regard the partnership deal would help us achieve that objective.
Professor Gerwel told BuaNews that the partnership deal would additionally assist the foundation in strengthening its African Leadership Development Programme which seeks to develop and advance youth's leadership skills in the African continent.
The OUP is deeply committed to further education, research and scholarship around the world, particularly in the African continent.
OUP chief executive officer, Henry Reece said, for many, OUP have been serious about transformation and empowerment in South Africa and truly believe that the partnership goes right to the heart of what Broad-Based Black Economic Empowerment (BBBEE) stands for.
"It's not just about black ownership, but about investing in people who will be our future leaders in order to create an even better South Africa. We are proud to be able to play in such a fundamental way."
Chief executive of MRF, Shaun Johnson said the foundation aims to help scholars get the tools to be leaders in South Africa and across the continent and reflect the example of ethical, excellent and inclusive leadership that Mandela has set for the nation.
OUP has close links with South Africa such as scholarly interchanges, the Rhodes Scholarship programme and the conferment of Honorary degrees, among others.
Article published courtesy of BuaNews
