South African Actuarial Development Programme (SAADP) Bursary 2025

ABOUT THE BURSARY PROVIDER – SAADP

The South African Actuaries Development Programme (SAADP), established in 2003, is an independent and non-profit company. The SAADP was founded when it was identified that the South African economy lacked black actuarial skills. Previously chaired by Cyril Ramaphosa, the SAADP has since produced more than 200 Actuarial Science graduates.

The programme is funded by various donors, including: First Rand Foundation; Deloitte; Discovery; Insight; Sasria SOC Limited; Bankseta and INSETA. The companies core values include: Proudly South African; Excellence; Integrity; Professionalism; Transparency; Gender-agnostic; Supportive and nurturing.

ABOUT THE SAADP BURSARY PROGRAMME – FIELDS COVERED

The South African Actuaries Development Programme (SAADP) is inviting students to apply for their bursary programme, for the 2025 academic year.

The bursary will be awarded for studies towards an Actuarial Science qualification, at one of the SAADP partner universities: UCT, UP or WITS.

MORE ABOUT THE SAADP BURSARY PROGRAMME – RENEWAL & COVERAGE VALUE

Bursaries are renewable each year based on academic performance and availability of funds.

Bursary recipients will receive the following support:

Financial support:
- Tuition fees
- Textbook allowance
- Residence fees
- Meal allowance
- Living allowance
Psychosocial support:
- Students mentorship programme (senior students will provide mentorship and social support to junior students)
- Life skills programme (including topics like goal setting, time management, CV writing and Interviewing skills, with the aim of developing graduates to be ready for the corporate space)
Academic support:
- Academic tutorials or extra classes (supplementary tutorials are offered over and above the basic curriculum – senior students conduct weekly extension tutorials and sometime, technical workshops are organized)
- Mentorship (top senior students will transfer their existing knowledge, skills, and experience to new students)
- Vacation work (during the June/July and November/December university holidays)
- Actuarial Seminars (qualified actuaries and graduates from the bursary share their industry experience with current students and students can interact with alumni)
- Academic Workshops (SAADP Alumni run academic workshops to assist current students)
- Exam preparation sessions (SAADP Alumni share their exams preparation techniques with current students)

ABOUT THE SAADP BURSARY PROGRAMME – SELECTION PROCESS

Applicants should take note of the following steps in awarding the bursary:

Step 1: Pre-screening – applications will be screened to ensure they meet the basic requirements (the application was submitted before the deadline, in full, with all the required supporting documents and you met the university requirements),
Step 2: Shortlisting – the Students’ Selection and Monitoring Committee screens applications (this is external to the SAADP) and submit a list of shortlisted candidates to the SAADP (only shortlisted candidates will be contacted – if you do not receive any feedback, consider their application unsuccessful),
Step 3: Submission of Statements of Results – Matric students will be required to submit their final matric results and failure to do so will disqualify the applicant from the selection process.
Step 4: Selection interviews – Shortlisted Matriculants will be invited to attend a selection interview, conducted by the SSMC. Current students will receive feedback from the SAADP regarding the Selection Committee’s decision. Successful applicants will be notified of their interview outcome.

ELIGIBILITY REQUIREMENTS FOR THE SAADP BURSARY

Applicants must satisfy the following minimum entry criteria before applying for the bursary (please note that failure to satisfy all the requirements will lead to your application not being considered):
Matric/ Grade 12 students:

You must be a South African citizen
You must be Black or Coloured
You must be currently in Matric
You must achieve a minimum result of 80% for Mathematics (not Mathematics Literacy) in Matric
You must achieve a minimum result of 80% for Physical Science in Matric
You must achieve a minimum result of 80% for English in Matric
You must intend on studying towards an Actuarial Science qualification in 2025
You must have applied to study at one of the ASSA-accredited universities that offer SAADP support: University of Cape Town (UCT), University of Pretoria (UP) or University of the Witwatersrand (Wits) (studies at any other university will NOT be accepted)
Students from commercial streams: you must apply to study Actuarial Science at UCT (UCT accepts students without Physical Science)
You must have written or registered for the National Benchmark Test (NBT)
You must have access to the internet, an active email address (to receive communication about your application) and an active cell phone number (to be contactable)
You must show potential to succeed academically in university
You must have a passion and keen interest in pursuing Actuarial Science as a profession
You must be from a financially needy family background

University students:

You must be a South African citizen
You must be currently studying towards an Actuarial Science qualification
You must be in your 1st, 2nd, 3rd or Honours year of study in 2024
You must be studying or registered at one of the ASSA-accredited universities that offer SAADP support: University of Cape Town (UCT), University of Pretoria (UP) or University of the Witwatersrand (Wits) (students pursuing studies at other universities may also apply, if they applied and got accepted into one of the SAADP partner universities)
You must have achieved excellent academic results
You must have access to the internet, an active email address (to receive communication about your application) and an active cell phone number (to be contactable)
You must have a passion and keen interest in pursuing Actuarial Science as a profession
You must be from a financially needy family background

HOW TO APPLY FOR THE SAADP BURSARY

Download and complete the relevant application form:
Matric students: SAADP Bursary Application Form 2025 (.docx)
University students: SAADP Bursary Application Form 2025 (.docx)

Submit clear copies of the following supporting documentation along with your completed application form (the submission of these documents is compulsory – if any items are missing, your application may be disqualified):
Matric/ Grade 12 students:

ID document/both sides of your ID card/ birth certificate (certified copy)
Grade 10 and Grade 11 final report (certified copy)
Matric reports (term 1, 2 and 3) (certified copy)
Matric final statement of results/ NSC certificate (to be submitted when Matric results are released) (certified copy)
Acceptance/ provisional admission letter to one of the partner universities (on institutions letterhead)
2 essays, to be completed on the application form (1. about yourself, your academic achievements, leadership qualities, and involvement in your community, 2. five or more reasons why you want to be an actuary)
Parents death certificate or affidavit, if one or more parent is deceased (certified copy)

University students:

ID document/ both sides of your ID card (certified copy)
Full academic transcripts – from 1st year to current (on institutions letterhead)
Parents death certificate or affidavit, if one or more parent is deceased (certified copy)

Note: if any of the above supporting documents are not available at the time of application, you may apply without them and submit them when they are available (even after the closing date).
Applications must be submitted via email to: applications@saadp.co.za
(Insert the words “SAADP Bursary Application 2025” in the email subject line).

CLOSING DATE FOR THE SAADP BURSARY

31 August 2024.
(Applications submitted after this date will not be accepted – please apply before the closing date to ensure your application is considered.)

CONTACT THE BURSARY PROVIDER

For any queries related to this bursary programme, please contact the SAADP directly:
Tel: 011 642 2202
Email: applications@saadp.co.za
Please do NOT contact the SAADP if this bursary has already closed.