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Rhodes Trust seeks outside funds for first time in 107 years  Comments
November 24, 2009

By Peter DeIonno


Payback time is looming for recipients of one of the world's most prestigious scholarships as the Rhodes Trust is seeking funds for the first time in its 107-year history.

After losing 22 percent of its holdings in last year's global markets crash, the trust, which administers the Oxford University-based Rhodes Scholarship programme, is down to its last £115 million (R1.45 billion).

But even as the trust passes the hat around its 4 500 living alumni in a bid to raise £100m in the next 10 years, there is palpable pride in the trust that the initial bequest of £3m by Cecil John Rhodes, the colonial adventurer, businessman, philanthropist and founder of De Beers and Rhodesia, has sustained the plan for more than a century and supported more than 7 000 scholars.

Apart from the hit on its investments, rising costs played a part in the decision to appeal for funds from former Rhodes scholars, said Donald Markwell, the warden of Rhodes House at Oxford University, speaking from Los Angeles yesterday.

Markwell, a former Rhodes scholar, said the trust's endowment had not been hit as badly by the financial turmoil as a number of US universities, but the losses had been "severe".

"Our assets were managed by the Oxford University Endowment Management and were fairly diversified so that we were not just dominated by UK equities, so it could have been much worse.

"We have been gearing up for some time to ask former Rhodes scholars for contributions and many, many of them are only too willing. They are overwhelmingly, profoundly grateful for what was a life-transforming opportunity.

"Already, on this trip to the US 15 former Rhodes scholars have pledged $1 million each."


Markwell did not say if former US president Bill Clinton, the most famous of US Rhodes scholars, was among the 15.

Because Rhodes, one of the wealthiest men in the world in his day, made the bulk of his fortune in southern Africa, South Africa has been intimately linked with his legacy, producing 833 Rhodes scholars.

Notable South African Rhodes scholars include Constitutional Court Justice Edwin Cameron; Isaac Shongwe, the first black chief executive of Barloworld; Loyiso Nongxa, the vice-chancellor of the University of the Witwatersrand; and Piet Koornhof, the former National Party minister.

The 10 scholarships each year in southern Africa are awarded now for all fees for post-graduate degrees, with an annual stipend of £11 500. Four of these are available to all South African residents and known as the South Africa-at-Large Scholarships.

Rhodes made specific provision in his will for one scholar from KwaZulu-Natal and one each from four schools: Diocesan College, Cape Town; Paul Roos Gymnasium, Stellenbosch; St Andrew's College, Grahamstown; and South African College School, Cape Town.

It is remarkable that so much good has come from Rhodes's wealth. His colonialist and racist views, shaped in an era before political correctness was even thought of, would not stand modern scrutiny.

"To be born English is to win first prize in the lottery of life," he infamously said.

"In his first will, of 1877, (before his wealth), Rhodes wanted to create a secret society to bring the whole world under British rule," says Wikipedia.
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Showing page 1 of 1 comment pages, 8 total comments
6 Days ago Anonymous wrote :
To Joe Blow: If you read my comment you will see i said First Black and not indian beacuse indians were regarded as black in the 1980z.If you really want to post comments then read properly before jumping the gun...
6 Days ago Prashantan Govender wrote :
To Joe Blow: I am sure of what i say, if you not to famaliar with the 1980's, Indians were regarded as black hence he was the first Black Rhodes scholar in South Africa.
11 Weeks ago Joe Blow wrote :
To: Prashantan Govender: Ag, shame hey! Jislaaik! To forget the first Black Rhodes scholar in South Africa. Eish! Btw, are you sure you mean Indian and not Black? If you really want to get he record straight, then get it right! Peace and out.
11 Weeks ago Anonymous wrote :
Rhodes was a 'creator' and 'giver' - many executives are 'takers' today without giving back. A sad day for a world where the value and care for others are diminishing
11 Weeks ago Natasha wrote :
To Tigger, I guess Simphiwe is referring to "Educated People" not the so called Politicians who don't care whether it rains or its drought . We really need to introduce and enforce a culture of ploughing back...giving back, supporting these Bursary Schemes so that more and more generations can milk from them.
11 Weeks ago Tigger wrote :
Hi Prashantan, I agree it is sad your father wasn't mentioned, but I doubt there was any malice intended. However, Simphiwe, you are making allegations based on on your own thoughts, with nothing based on fact - lighten up. There are many others today who don't give a blind bit of notice to those who are at the bottom of the ladder.
11 Weeks ago Simphiwe wrote :
It is supposed to be a case of "Paying back" by either donating or pledging with the Bursar/Funder but students after completing studies most of them become selfish and not want to share their richies. Not forgeting to mention that they become so self absorbed forgeting about the other world that supported them whilst they were struggling! ! !
11 Weeks ago Prashantan Govender wrote :
It is very Sad that my Dad Ramachandran Govender who broke barriers in becoming the first black rhodes scholar in South Africa is not recognised in this article.
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