About SAADP
The South African Actuaries Development Programme (SAADP) is a bursary and mentorship programme with the single goal of growing the number of Black actuaries in South Africa. Its office is in Bryanston, Johannesburg, and the programme has historic links to the University of the Witwatersrand. Actuarial science has one of the narrowest and most demanding qualification pathways in the country. It has also been one of the least representative professions.
SAADP does not only hand out money. It builds a pipeline that starts with learners and continues through university. Its work includes mathematics clubs, career awareness, school visits and job shadowing. For students, it offers a bursary, mentorship, networking and support. Partners include PwC, the FirstRand Foundation, Discovery and Old Mutual Insure.
How SAADP supports students
The bursary is aimed at students who study actuarial science at the universities of the Witwatersrand, Cape Town or Pretoria. Funding is limited to these three campuses so that SAADP can also give close academic and mentoring support. Reports on recent calls say that cover includes tuition, residence or approved accommodation, a meal allowance, and textbooks and study materials.
Beyond fees, students receive tutorials, mentoring and psychosocial support. They also meet qualified actuaries and fellow scholars. Work-readiness and leadership training prepare them for the profession. As a result, the programme tries to protect a student from the isolation that often hurts first-generation university students.
The bursary can be renewed each year, provided that academic results stay strong. No fixed employment contract follows study. However, the programme is designed to feed graduates into the actuarial profession.
What to know before applying
Recent listings say that matric applicants need at least 80% for Mathematics (not Mathematical Literacy), 80% for Physical Sciences and 80% for English. They also say that applicants must be South African citizens who are Black or Coloured. Current students in first, second or third year, or honours, may apply if they are studying actuarial science.
These figures come from third-party sites, so confirm them on the SAADP website. Application dates change from year to year. The SAADP site also shows a dedicated email address for bursary applications. Use only the official channels, and never pay a fee to apply.
Because the standards are high, start preparing early. Strong mathematics marks in Grade 11 and Grade 12 matter most. Attend any SAADP learner events that you can, since they give a clear picture of the career. Actuaries measure risk for insurers, pension funds and banks, so the work is well paid and in high demand. Talk to a current scholar if you can, because first-hand advice about the workload is very useful.
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