SAADP (South African Actuaries Development Programme) Bursary 2023: Financial Aid for Grade 12/Matric and University Applicants

About the SAADP (South African Actuaries Development Programme)
Since its inception in 2003, the South African Actuaries Development Programme (SAADP) has had as its primary focus the cultivation of black actuaries who have their roots in South Africa. Sasria SOC Ltd provided the first seed funding that allowed the initiative to get off the ground. In South Africa at the time, there were little over 900 actuarial graduates and around 500 actuaries who were actively practicing their profession. None of these individuals were black nationals of South Africa.

Because of this, Cyril Ramaphosa, who is now the Honorable President of the Republic of South Africa, was the Chairman of the Sasria SOC Ltd. at the time, and he was the one who recognized the need for the development of black actuarial skills in South Africa so that the economy of South Africa could benefit from it. This is the impetus for the Program’s creation in the first place.

About the SAADP (South African Actuaries Development Programme) Bursary 2023
SAADP (South African Actuaries Development Programme) is accepting Matric/Grade 12 and University student applicnts for the bursary in Actuarial Science. The SAADP (South African Actuaries Development Programme) Bursary is available for students who are pursuing their education at an SAADP partner university: University of Cape Town, University of Pretoria, and University of Witwatersrand. Awardees are entitled to renew the bursary depending on the availability of funds and their impressive academic track record.

Awardees will be entitled to the coverage for fees like tuition expenses, prescribed study materials, costs for residences, daily meals, and accommodation costs. On top of that, you will have access to a students mentorship programme, life skills programme, academic tutorial programmes, mentorship sessions, and obligatory vacation work.

Eligibility Criteria
Candidates interested in the SAADP (South African Actuaries Development Programme) Bursary must fulfill an eligibility criteria before proceeding with their applications. Each of these items below will determine whether you have what it takes to proceed with this bursary. To guarantee a successful application, candidates are advised to meet all of the following requirements. Failure to do so will cause disadvantageous consequences towards the overall result of your applications. Be sure to jot down these items for personal reference.

The SAADP (South African Actuaries Development Programme) Bursary Eligibility Criteria are as follows:
1. Eligibility Criteria for Matric/Grade 12 Applicants

  • Officially recognized as a citizen of South Africa
  • Currently pursuing your Matric qualification
  • Has obtained at least an 80% score for the following subjects in Matric: Mathematics (not Mathematics Literacy), Physical Science, and English
  • Planning to pursue your Actuarial Science qualifiction in 2023
  • Officially registered to pursue you studies at an SAADP partner university: University of Pretoria, University of Cape Town, or University of the Witwatersrand (it’s advised that you register to all three universities)
  • Important note: students who are originating from commercial streams will need to pursue your study in Actuarial Science at the University of Cape Town.

2. Eligibility Criteria for Unviersity Applicants

  • Officially recognized as a citizen of South Africa
  • Originating from a Previously Disadvantaged Background
  • Currently pursuing your studies in Actuarial Science
  • Has obtained an impressive academic track record from your 1st-3rd year of studies
  • Currently pursuing your education at an SAADP partner university: University of Pretoria, University of Cape Town, or University of the Witwatersrand.

Application Instructions
Apply via email: [email protected] (SAADP (South African Actuaries Development Programme) Bursary 2023).

First off, candidates will need to download the Official SAADP Bursary Application Form.

Once you have downloaded the application form, please fill it in with your most relevant responses by typing them into the appropriate areas. All of the personal information you submit should be accurate and correspond to your actual circumstances.

On top of that, you will need to prepare the following documents:

  • Certified copies of Grade 11 final report and Grade 12 (term 1, 2, and 3) reports
  • A copy of the provisional admission letter to a partner institution you applied to study at
  • A certified copy of a death certificate or an affidavit in the case of deceased parent(s)
  • In the case of parents who are divorced, a copy of the divorce certificate that has been verified by an appropriate authority
  • A recent academic transcript
  • A copy of both sides of your South African identification card or license that has been officially certified.Certified copy of Matric Statement of Results or National Senior Certificate (if available)
  • Any one of the following documents can serve as proof of income for a parent or guardian:
    • Their/his/her certified copies of payslips
    • If your parents or guardians do not have jobs, you will need them to fill out and sign an affidavit stating this fact
    • If your parents are self-employed, you will need to provide either your most recent audited financial statements or an affidavit declaring your monthly income.

Candidates will need to provide all of the documents above. Incomplete application dossiers will automatically be disqualified from the registration process.

Once everything is compiled, please send your applications to the email address above.

Alternatively, you can send your email application using your handphone, since it is much more practical than applying via computer. If you are using an OS Android handphone, you can use your Gmail app to send the emails and any CVs/files that needs to be attached.

The members of the selection committee, including yourself, will look over the information that you provide and make their decision based on what they find. As a consequence of this, you need to check the information twice to make sure that it does not contain any false details.

By submitting your applications, you are giving the selection committee permission to use your personal information for the purpose of registering you for the event. This will ensure that you will be able to participate in the event.

All applications must be submitted through the website, which can be found by following the previous sentence’s link. The committee in charge of selecting winners will not consider any materials that have been submitted through alternative channels, such as hand delivery or fax.

Closing Date
Applications for the SAADP (South African Actuaries Development Programme) Bursary must be submitted before the closing date on 31 August 2022.

You can guarantee that your application will be processed as quickly as possible if you sign up as soon as you possibly can. Despite this, there is no assurance that you will be successful right away; rather, the purpose of this is to put you in a secure position while the recruiting process continues.

Candidates who submit their applications after the deadline will be eliminated from the selection process by the committee in charge of making that decision. Any submissions that are received after the contest’s end date will automatically be disqualified, regardless of the content of the entry.

The South African Actuaries Development Programme (SAADP) retains the authority to choose whether or not to make employment opportunities available to any individual. The decisions of the selection committee are final and must be adhered to by all of the relevant parties.

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