Pursuing a career in Actuarial Science can be a challenging yet rewarding journey. For many aspiring actuaries in South Africa, the financial burden of higher education can be a significant obstacle. Fortunately, the South African Actuaries Development Programme (SAADP) offers a lifeline through its comprehensive bursary programme. Established in 2003 to address the shortage of black actuarial professionals in the country, SAADP has supported over 200 graduates in achieving their dreams. This guide will provide you with all the necessary information on how to apply for the SAADP Bursary for the 2025 academic year, helping you take the first step towards a promising future in Actuarial Science.
About the Bursary Provider – SAADP
The South African Actuaries Development Programme (SAADP) was established in 2003 to address the shortage of black actuarial skills in the South African economy. As an independent, non-profit company, the SAADP has been pivotal in producing more than 200 Actuarial Science graduates. The program is supported by notable donors such as First Rand Foundation, Deloitte, Discovery, Insight, Sasria SOC Limited, Bankseta, and INSETA. SAADP’s core values include excellence, integrity, professionalism, transparency, and support.
About the SAADP Bursary Programme – Fields Covered
The SAADP is inviting applications for their 2025 bursary programme, targeting students pursuing an Actuarial Science qualification at one of the SAADP partner universities: University of Cape Town (UCT), University of Pretoria (UP), or University of the Witwatersrand (WITS).
Bursary Coverage and Renewal
The bursary covers:
- Tuition fees
- Textbook allowance
- Residence fees
- Meal allowance
- Living allowance
Additional support includes:
- Psychosocial Support: Mentorship from senior students and life skills programmes.
- Academic Support: Supplementary tutorials, mentorship from top senior students, vacation work, actuarial seminars, academic workshops, and exam preparation sessions.
Bursaries are renewable each year based on academic performance and the availability of funds.
Selection Process
Step 1: Pre-screening
Applications are screened to ensure they meet basic requirements, including submission before the deadline, completion, and fulfillment of university requirements.
Step 2: Shortlisting
The Students’ Selection and Monitoring Committee screens applications, and shortlisted candidates are notified.
Step 3: Submission of Statements of Results
Matric students must submit their final matric results; failure to do so disqualifies them.
Step 4: Selection Interviews
Shortlisted matriculants will attend a selection interview, and current students will receive feedback from the SAADP.
Eligibility Requirements
For Matric/ Grade 12 Students
- South African citizen
- Black or Coloured
- Currently in Matric
- Achieve at least 80% in Mathematics, Physical Science, and English
- Intent to study Actuarial Science in 2025 at UCT, UP, or WITS
- Applied to study at one of the ASSA-accredited universities
- Written or registered for the National Benchmark Test (NBT)
- Access to the internet, active email, and cell phone number
- Passion for pursuing Actuarial Science
- From a financially needy family background
For University Students
- South African citizen
- Currently studying Actuarial Science
- In 1st, 2nd, 3rd, or Honours year of study in 2024
- Studying at one of the ASSA-accredited universities
- Excellent academic results
- Access to the internet, active email, and cell phone number
- Passion for pursuing Actuarial Science
- From a financially needy family background
How to Apply for the SAADP Bursary
Download and Complete the Application Form
- [Matric students: SAADP Bursary Application Form 2025 (.docx)](insert link)
- [University students: SAADP Bursary Application Form 2025 (.docx)](insert link)
Submit the Following Supporting Documents
For Matric/ Grade 12 Students
- Certified copy of ID document/birth certificate
- Certified copies of Grade 10 and 11 final reports
- Certified copies of Matric term 1, 2, and 3 reports
- Certified copy of Matric final statement of results/NSC certificate (when available)
- Acceptance/provisional admission letter to a partner university
- Two essays (as specified in the application form)
- Certified copy of parents’ death certificate or affidavit if applicable
For University Students
- Certified copy of ID document
- Full academic transcripts
- Certified copy of parents’ death certificate or affidavit if applicable
Note: Missing documents may be submitted after the closing date if not available at the time of application.
Email Your Application
Submit your application and supporting documents via email to: [email protected]
Include “SAADP Bursary Application 2025” in the email subject line.
Closing Date for the SAADP Bursary
31 August 2024. Late applications will not be accepted, so apply early to ensure your application is considered.
Contact the Bursary Provider
For any queries, contact SAADP directly:
- Tel: 011 642 2202
- Email: [email protected]