The South African Actuaries Development Programme (SAADP) was established in 2003 with the specific aim of developing black Actuaries of South African origin. The programme was established with the financial seed from Sasria SOC Ltd. At the time, there were approximately 500 practising actuaries in South Africa and just over 900 actuarial graduates. None of these were black South African citizens.
It was for this reason that the then Chairman of the Sasria SOC Ltd. the (now) Honourable President of the Republic of South Africa, Mr Cyril Ramaphosa saw the need for the development of black actuarial skills in South Africa to benefit the South African economy. This is the driving force behind the Programme.