The South African Actuaries Development Programme (SAADP) was established in 2003 to increase the number of black actuaries in South Africa. It is a non-profit organization that Cyril Ramaphosa once chaired. Since its founding, the programme has successfully graduated over 200 students in Actuarial Science.
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SAADP Bursary Programme 2025
SAADP is funded by various donors and is dedicated to upholding excellence, integrity, and professionalism. The programme offers a bursary to students pursuing Actuarial Science at partner universities, providing financial, psychosocial, and academic support to help them succeed.
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Funding and Core Values
The SAADP receives support from donors including:
- First Rand Foundation
- Deloitte
- Discovery
- Insight
- Sasria SOC Limited
- Bankseta
- INSETA
The programme is guided by core values such as:
- Proudly South African
- Excellence
- Integrity
- Professionalism
- Transparency
- Gender inclusivity
- Support and nurturing
SAADP Bursary Programme
Fields Covered
The SAADP bursary is available for students planning to study Actuarial Science at the University of Cape Town (UCT), University of Pretoria (UP), or University of the Witwatersrand (WITS) in the 2025 academic year.
Renewal and Coverage
The bursary is renewable annually based on academic performance and available funds. It provides:
- Financial Support
- Tuition fees
- Textbook allowance
- Residence fees
- Meal allowance
- Living allowance
- Psychosocial Support
- Mentorship (senior students guide junior students)
- Life skills programme (covering topics like goal setting, time management, CV writing, and interview skills)
- Academic Support
- Extra classes and tutorials (supplementary sessions and technical workshops)
- Mentorship (knowledge sharing by senior students)
- Vacation work (during university holidays)
- Actuarial seminars (insights from qualified actuaries and graduates)
- Academic workshops (conducted by SAADP alumni)
- Exam preparation sessions (techniques shared by SAADP alumni)
Selection Process
Steps to Award the Bursary
- Pre-screening: Applications are reviewed to ensure they meet basic criteria.
- Shortlisting: The Students’ Selection and Monitoring Committee evaluates applications and creates a shortlist.
- Submission of Results: Matric students must submit their final matric results.
- Selection Interviews: Shortlisted candidates are invited for an interview.
Eligibility Requirements
For Matric/Grade 12 Students
- Must be a South African citizen
- Must be Black or Coloured
- Must be in Matric
- Must achieve at least 80% in Mathematics, Physical Science, and English
- Must intend to study Actuarial Science in 2025
- Must have applied to UCT, UP, or WITS
- Must have taken the National Benchmark Test (NBT)
- Must have internet access, an active email address, and a cell phone number
- Must demonstrate academic potential
- Must be passionate about Actuarial Science
- Must come from a financially needy family
For University Students
- Must be a South African citizen
- Must be studying Actuarial Science
- Must be in 1st, 2nd, 3rd, or Honours year in 2024
- Must be studying at UCT, UP, or WITS
- Must have excellent academic results
- Must have internet access, an active email address, and a cell phone number
- Must be passionate about Actuarial Science
- Must come from a financially needy family
Application Process
- Download and complete the application form.
- Enter “www.zabursaries.co.za” in the field asking how you learned about the SAADP bursary.
Supporting Documentation
Submit clear copies of the following documents with your application:
For Matric/Grade 12 Students
- Certified copy of ID document/birth certificate
- Certified copies of Grade 10 and Grade 11 final reports
- Certified copies of Matric reports (terms 1, 2, and 3)
- Certified copy of Matric final results/NSC certificate
- Acceptance/provisional admission letter to one of the partner universities
- Two essays (about yourself and why you want to be an actuary)
- Certified copy of parents’ death certificate or affidavit (if applicable)
For University Students
- Certified copy of ID document
- Full academic transcripts (on institution’s letterhead)
- Certified copy of parents’ death certificate or affidavit (if applicable)
Note If any required documents are unavailable at the time of application, you may submit your application without them and provide the documents later.
Closing Date
The application deadline for the SAADP bursary is 31 August 2024. Late applications will not be accepted.
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