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Diversity fuels prosperity
Advancing an equitable, diverse, and progressive Actuarial Science education ecosystem that is supported by industry collaboration.

Diversity fuels prosperity

Advancing an equitable, diverse, and progressive Actuarial Science education ecosystem that is supported by industry collaboration.

Our mandate

Since its inception in 2003, the South African Actuarial Development Programme (SAADP) has focused on transforming the Actuarial Science Profession in South Africa. Its primary objective is to increase the number of Black professionals within this field, advancing diversity, equity, and inclusion.

Despite progress made, the pathway for Black youth aspiring to pursue a career in Actuarial Science is still marked by systemic barriers and limited access to essential resources necessary for success in the profession. It is on this premise, that the SAADP is committed to accelerating transformation and convene stakeholders to fully realise a transformed sector.

Although South Africa has seen an increase in the number of Black Actuarial Science students in recent years, the road to a fully transformed and equitable Actuarial Science Profession remains formidable. The Actuarial Science Profession lacks the diversity needed to reflect the demographics of the country. Black youth and women (in particular), remain underrepresented.

According to the statistics by the Actuarial Society of South Africa (ASSA) as of February 2024, South Africa has 1768 qualified Actuaries. Of the total, 2,1% are Coloured, 9,2% are Black Africans, compared to the 14,4% and 74,3% who are Indian and White respectively. Addressing this discrepancy requires a concerted effort from all stakeholders involved. It is not a battle that can be won without a clear intent for change.

Closing the opportunity gap in South Africa is a significant task. Expanding access, inclusion and impact is at the heart of the SAADP’s invigorated purpose. As an organisation, we want to strengthen the pipeline of Black Actuarial talent in South Africa and attract a more diverse pool of talent to the profession. Beyond increasing the number of Black students, who will eventually qualify as Actuaries, our goal is to ensure that Black youth see themselves in the profession, feel fully included, have equitable opportunities for development, and growth and are equipped to positively contribute to the success of our country. Our hope lies in enabling young people to realise their potential for greatness in the world through the profession.

Diversity, equity, and inclusion are about appreciating individual uniqueness and recognising these differences as sources of strength. If we do not cultivate wider access to the Actuarial Science Profession, we run the risk of lost potential. When we view diversity as a source of strength, it contributes to richer and wider perspectives, increasing opportunities for success for all. Diverse perspectives enable us to advance the profession’s body of knowledge and harness the best minds to solve the world’s most pressing problems.

Our programme is different because it ensures that students start their professional journey with confidence, offering a space to nurture talent and develop future leaders who transcend individual success and are committed to the greater good of society. Unlike other basic bursary programmes that don’t cover end-to-end support, our programme ensures that nothing unfairly prejudices Black and Coloured students to enter the profession.

Our value proposition

To empower disadvantaged Black South African youth through a comprehensive, wraparound bursary programme, breaking socio-economic barriers, and nurturing the confidence to realise their potential.

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Applications open

Applications for bursaries are open to Matric students entering their first year of Actuarial Science and current Actuarial Science students.

Our strategic approach

At the heart of it, we are in the people development business, harnessing potential.

We nurture talent and develop future skills

We are an Integrator, a connector, and a convenor of the sector

Facilitate equitable access for Black Actuaries

Our purpose

Our purpose is to contribute to building a diverse and inclusive Actuarial Science Profession by promoting equitable opportunities for Black students and to nurture their potential for greatness in the world. Our actions are reinforced by these pillars:

01

Unlocking potential & talent

Empowering Black students to reach their full potential by nurturing talent and supporting their educational journey.

02

Inclusivity & openness

Develop a profession that ensures equitable access and inclusive processes where anyone with potential and talent is welcomed.

03

Enhance representation & promote belonging

Amplify the representation of Black students, to ensure they not only enter, but thrive within the Actuarial Science Profession.

04

Champion diversity

Build a vibrant profession that leverages the strengths of all people and thrives from the inclusion of diverse perspectives.

05

Shared opportunities

Create a conducive Actuarial Science ecosystem that drives opportunities for Black students to succeed.

06

Sustainability & prosperity

Create a resilient Actuarial Science Profession that promotes economic prosperity for individuals and the country.

The impact we want to make

Develop

Develop a sustainable skills development ecosystem that is responsive to the needs of Black students in the Actuarial Science space.

Empower

Empower young Black students with opportunities for self-empowerment and economic advancement.

Propel

Propel sustainable economic development of the country, enhancing livelihoods, and fostering social mobility for young people.

Champion

Champion diversity, inclusivity, and the delivery of a diverse workforce of Actuaries in the profession.

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Our sponsors

Events

28

November 2024

Alumni and Year-End Function

Venue to be confirmed.

16:00

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