The Soko Fund was founded in July 2004. The Soko Fund believes in promoting the value of higher education for women in Malawi. To do this, we offer scholarships al university, support after graduation for the early stages of employment, and a peer support programme to encourage young women in secondary school to apply for university. This is the sixteenth formal report since the Fund was created and covers the period trom June 202Une 2025. It summarises the numbers of students 5UPPOrted, the links with Universities in Malawi, the financial position, and developments during the year. From Malawi... Our manager in Malawi, tells us about all the activities". 20242025 has been a wonderful year. Though there have been challenges- it has been a very active year for the Scholarship programme. SCHOLARSHIP AWARDS 2025 Op8n and offectlvo communicatlon with the students and authorities of the partner universities is such a key part of my role that ensure the Scholarship programme runs well. Gettinglo know the studer¢ts is a pleasure and I work with them on issues to do with their academic experience as well as other social welfare issues. I coordinate the nominations and reports from the students and graduates, along wlth fee payments, nominations. students, registration, collection of results transcripts. and other practicalities. For a few years, successful grant applicatior significantly supplemented core funding from our supporters. This funded a substantial increase in the number of scholarships we were able lo offer, lo a wonderful total of 85 in 2021122. But competition for grants has greauy intensified over the last few years, and as a source of income grants have almost dried up. Consequenlty, the number of scholarships had to be reduced to 66 in 2023. In 2024, after working hard on fundraising and we were able to reach 80 scholarships. We are pleased to say that we have reached this tsrget again in 2025. STUDENT FEEDBACK AND RECOMMENDATIONS Our open and effective communication with the students has also always helped us to hear some important concerns from the students, get feedback from them as well as ideas for how the programme could be improved. Every year the Trustees allocate each university a number of new scholarships and Deans of Faculty are invited to rtominate twice that number. Their pre- screening means that only the names of the most able and neediest students reach the Soko Fund. This makes the task of awarding scholarships a very difficult one. though always fvll of interest. Upkoop allowances One of the frequent concems I have been hearing from the students is lo do wilh upkeep allowanS. The loss of value of Malawi's cuttency has meant conlinuously escalating price5 of good5 and 5ervice5 over the past year and this makes it very difficult for students. This annual report is a celebration of all that the Soko Fund does. although this year we are parknculafty focusing on graduate stortes. num
sokofund inspiration came from obseNing how few gids pursue science-related fields, especially Physics. Determined to change that narrative, l aspired to become a role model and encourage more young women to embrace science. I try lo support the students with how they might manage this situation and we are keen to help them deal with such kind of economic uncertainties during their time of university studies. With my degree, l aim to contribute to improving science education in Malawi by fostering a deeper interest in Physics aTnong students, particulady young women. l aspire to teach at secondary or university levels, encouraging more female students to pursue science-related fields. Additionally, I hope to engage in research and curriculum development. working to enhance the qualty of physics education in schools and last but not least l aspire to further my studies to become a qualified academician. Soko Fund ManagomontApp One of our IT students at MUST is interested in developing a Soko Fund Managoment App. Thls would help us to keop track of each parbcular beneficiary, track semesters for each university, upload students results and keep record of other management tasks. I plan to be an ambassador for the Soko Fund by advocating for educational opportunities underprivileged students. I will contribute by mentoring prospective scholarship recipients, sharing my experiences to inspire others, and assisting in outreach programmes aimed at promots.ng higher educats.on accessibilty. Her recommendation came after she observed that I am always asking for updates about year of studies, semesters, struggling to keep records of students results and other things. I think it is a good suggests'on rf given a try and see if it can be possible and how that App can assist us in our managerial roles. l extend my deepest gratitude to the Soko Fund fortheir unwavering support. This scholarship has been instrumental in shaping my fijlure and allowing me to pursue my dreams. l appreciate the efforts put forth in ensuring students like me have access to education and opportunities. l am committed to paying it fOard by empowering others who face similar challenges, ensuring that more students can benefit from the transfomialive wwer of education. Watch this space for a new app. Graduate Storios.... B Ed in Physics niversity of Malawi ucation, Before receiving the Soko Fund scholarship, I faced significant financial hardships. Coming from a low-income family, the dream attending universty felt almost unattainable due to the high cost of tuition and living expenses. Although I was passionate and determined lo learn, the constant fear of dropping out due to a lack of financial support weighed heavily on me. The Soko Fund became my lrfeline, offering me hope and the freedom to focus on my studies without the looming fear of unpaid fees forcing me to leave. Bsc Medlclne, Kamuzu University of Health Sciences l am writing to express my heartfelt gratitude to the Soko Fund Scholarship that I had the privilege of receiving during my college years. This scholarship has been instrumental in supporting my academic pursuits since 2018 and l am thrilled to report on the progress I have made. Academically, l am proud to have Bachelor of Medicine Bachelor of surgery IMBBSI degree studied from 2018 to 2024. This scholarship has had a profound impact on my joumey. The financial support provided by the scholarship enabled me to focus on my studies without undue financial stress. Before receiving the scholarship, I was facing significant financial constraints that threatened my ability to pursue higher educats'on, my family struggled to make ends meet. This scholarship has been a game changer, enabling me to focus on my studies and achieve my academic goals. I chose to study Education with a major in Physics because of my deep curiosity about the physical wodd4rom the motion of objects to the forces that shape our environment. Physics not only challenges the mind but also strengthens problem- solving skills, and I wanted to share that knowledge with others.
I chose to study Bachelor of Medicine Bachelor of Surgery (MBBS) because I am passionate about helping people. I believe that this programme has equipped me with the knowledge, skills, and expertise needed to make a positive impact in my community and beyond.
Like any academic journey, I faced several challenges including balancing academic responsibility with managing financial constraints. However, the Soko Fund has been alleviating some of these challenges, allowing me to focus on my studies and personal growth.
As I look to the future, I am excited and confident that the knowledge, skills and experiences I gained during my college years will serve me well in achieving my goals. This scholarship has not only supported me financially but has also inspired me to strive for excellence in my chosen field.
Once again, I would like to express my sincere gratitude for the Soko Fund Organization. Your support has made a significant difference in my life and I am honored to be a part of Soko Fund community.
Fundraising
The Soko Fund requires approximately £55,000 to support our students and our programmes. This requires a lot of fundraising.
Music for Malawi : Come and Sing
Our most recent fundraiser attracted even more singers than previous events. On Saturday 28th October 2024, we held our eighth Come and Sing. We were very pleased to have the opportunity to hold this at
Stockbridge Parish Church again. We greatly appreciate the support from the church. This year’s offered the opportunity to sing 2 big works – Faure’s Requiem and Vivaldi’s Gloria. 188 singers came along; our biggest number yet. It was wonderful to have such a choir! The total raised was £3500, enough to provide 6 year-long university scholarships for talented women in Malawi.
The Ascent Trust has renewed its support for a seventh year, and made a grant of £2000. This generous award is sufficient to support 4 year-long scholarships.
A grant of £500 from STAGW (St Andrews and St George’s West Church Edinburgh) is making an important contribution to the SGA graduate programme.
Finance – Accounts and Reserves
A statement of audited accounts and a balance sheet are prepared each year in accordance with the Trust Declaration. The accounts are prepared for the period to end of September 2024 and submitted to OSCR, in accordance with regulations.
An investment report on the endowment fund is prepared by the financial Trustee for each meeting of the Trustees. The financial trustee advises on past performance, and risk exposure, to see if performance could be improved, as well as ethical considerations. Regular reviews are undertaken and changes are made to the investment portfolio following decisions by the Trustees.
The value of the reserves was £64,768 in June 2025. It remains the Fund’s priority that the endowment exists to provide finances for all current students to graduation, presently 80 students, should no further fundraising be forthcoming in any year.
Signed:
Chair of Trustees 26[th] June 2025
The Soko Fund is grateful for everyone who donated over the last year.
We are fortunate to have regular donations, whose monthly donations bring in nearly £14,000 a year. These regular donors are so important in enabling us to guarantee that we can continue in offering the scholarship. We are also grateful for other grants and donations:
THE SOKO FUND Income and Expenditure Statement . Merged Accounts followlng Incorporatlon of the tharlty as a Scottish Charltablo Incorporated Organisatlon. For the year to 30th September 2024 Year to 30th September 2024 Total Funds Year to 30th September 2023 Unrestricted Restricted Total Funds Funds Funds Unrestricted Restricted Funds Funds Note l. Note l. Income Donations received GiftAid- HMRC Bank interest receivèd Fundraising artivitie5 Grants Unspent restricted funds donated by grant awarder 29.616.37 29,616.37 37.447.30 2,989.69 37,447.30 2.989.69 2.209.68 2.209.68 2,778.43 2.778.43 Total income 31,826.05 31,826.05 43,215.42 O.IXl 43,215.42 Expenditure Donations and disbursements Malawi office costs Subscriptions paid Sundry expense5 133.010.CM)I 110.055.lY)I 1165.1J)I 1648.991 143.878.991 133.010.(X)) I10,055.) 1165.(rf)I 1648.99) 143.878.99) 130,659.571 17,916.431 I165.) 12,822.881 141,563.881 {30.659.57) 17,916.43) {165.IXI) 12.822.88) o.CQ {41.563.88) Total expenditure Net cash income/lexp8nditure for the year 112.052.941 112,052.94) 1,651.54 1,651.54 Income fromllpurchase of) investments 5,IXO.00 O.IXI 5.C.(KI N8t movement in cash balance in the year 112.052.941 III052.94) 6.651.54 6,651.54 Opening cash balance 13,995.81 13,995.81 7,344.27 7,344.27 Closing cash balance 1,942.87 1.942.87 13,995.81 0.cil 13.995.81 Signed by = Charity Trustee Date- 26-Jun-25
THE SOKO FUND
Statement of Assets and Liabilities as at 30th September 2024
| Assets Investments Opening Balance Transfer from/to Current Account Change in value of investments Closing Balance Cash at Bank Opening Balance Purchase/sale of investments Net cash income/(expenditure) Closing Balance Total Assets Reconciliation Total assets brought forward Change in value of investments Increase/(decrease) in debtors Net cash income/(expenditure) Total assets carried forward |
Unrestricted Restricted As at Funds Funds 30th September 2024 £ £ £ Note 1. 63,559.70 0.00 63,559.70 0.00 0.00 0.00 12,775.04 0.00 12,775.04 76,334.74 0.00 76,334.74 |
Unrestricted Restricted As at Funds Funds 30th September 2024 £ £ £ Note 1. 63,559.70 0.00 63,559.70 0.00 0.00 0.00 12,775.04 0.00 12,775.04 76,334.74 0.00 76,334.74 |
Unrestricted Restricted As at Funds Funds 30th September 2024 £ £ £ Note 1. 63,559.70 0.00 63,559.70 0.00 0.00 0.00 12,775.04 0.00 12,775.04 76,334.74 0.00 76,334.74 |
Unrestricted Restricted As at Funds Funds 30th September 2024 £ £ £ Note 1. 63,559.70 0.00 63,559.70 0.00 0.00 0.00 12,775.04 0.00 12,775.04 76,334.74 0.00 76,334.74 |
Unrestricted Restricted As at Funds Funds 30th September 2023 £ £ £ Note 1. |
Unrestricted Restricted As at Funds Funds 30th September 2023 £ £ £ Note 1. |
Unrestricted Restricted As at Funds Funds 30th September 2023 £ £ £ Note 1. |
|---|---|---|---|---|---|---|---|
| 62,751.11 (5,000.00) 5,808.59 |
0.00 0.00 0.00 |
62,751.11 (5,000.00) 5,808.59 |
|||||
| 63,559.70 0.00 63,559.70 |
|||||||
| 13,995.81 0.00 (12,052.94) |
0.00 0.00 0.00 |
13,995.81 0.00 (12,052.94) |
7,344.27 5,000.00 1,651.54 |
0.00 0.00 0.00 |
7,344.27 5,000.00 1,651.54 |
||
| 1,942.87 0.00 1,942.87 78,277.61 0.00 78,277.61 77,555.51 0.00 77,555.51 12,775.04 0.00 12,775.04 0.00 0.00 0.00 (12,052.94) 0.00 (12,052.94) 78,277.61 0.00 78,277.61 |
13,995.81 0.00 13,995.81 |
||||||
| 77,555.51 0.00 77,555.51 |
|||||||
| 70,095.38 0.00 70,095.38 5,808.59 0.00 5,808.59 0.00 0.00 0.00 1,651.54 0.00 1,651.54 |
|||||||
| 77,555.51 0.00 77,555.51 |
Signed by :
Charity Trustee
26-Jun-25
Date :
THE SOKO FUND Notes to the Accounts For the year to 30th September 2024
Note 1. Nature and purpose of funds
Unrestricted funds are those which may be used at the discretion of the trustees in furtherance of the objects of the charity.
Restricted funds may only be used for specific purposes. Restrictions arise when specified by the donor or when funds are raised for specific purposes.
During the year no funds were raised for specific purposes (2023 : Nil), and no restricted funds remained unspent at the year end (2023: Nil).
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