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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