In 2002, the Board of Sasria SOC Ltd, chaired by Mr Cyril Ramaphosa, discovered that South Africa had approximately 450 qualified Actuaries, with 96% being White, 3% Indian, 1% Coloured, and 0% Black. Sasria’s Board decided to establish an organisation to address diversity in the actuarial field.
The South African Actuarial Development Programme (SAADP) was officially registered as a Non-Profit Organisation in terms of the Companies Act No. 71 of 2008. Support Programmes were established at both the University of the Witwatersrand, the University of Cape Town and later (in 2009) the University of Pretoria.
Starting with only 19 students, we had a 58% progression rate initially, which has since grown to over 80% annually.
The Chairman of the Sasria Board was appointed as the inaugural Chairman of the SAADP Board. The Career Awareness and Promotions Programme was implemented in schools, with a particular focus on rural and township schools.
Some graduates from the first cohort qualified and become Fellows of the Actuarial Society of South Africa (ASSA). With an increase in student enrolment, additional funding was received from public and private sector donors.
The first Chairman of the Board stepped down upon being appointed as the Deputy President of South Africa. Mr Cedrick Masondo, who was the Managing Director of Sasria at the time, served as the SAADP Board Chairman until 2018, when Mrs S’onqoba Vuba, an SAADP Alumnus, took over as the Chairperson of the Board.
The Career Awareness and Promotions Programme expanded on a national scale, leading to a noticeable rise in student enrolment.
Despite being impacted by the Covid-19 pandemic, SAADP persevered in generating favourable outcomes. The cancellation of the Career Awareness and Promotions Programme due to the pandemic led to no new first year students being accepted in 2021.
In 2023, Ms Nokwanda Mkhize, the first SAADP Executive Director, reached the retirement age and was succeeded by Mr Nthato Selebi. With the new Executive Director, Mr Selebi having taken over, SAADP rebranded itself and shifted its strategic focus.
Several collaborations were formed with like-minded organizations leading to the exchange of resources, thereby reducing operational expenses. Discussions about potentially expanding operations to other universities accredited by ASSA were initiated. These included the University of the Free State, the University of North-West, the University of Johannesburg, and the Stellenbosch University.
The organization also intensified its fundraising activities, leading to additional financial support from both public and private donors.
We take pride in our origins, our current selves, and our future potential.
Welcome to SAADP! We’re a non-profit organisation committed to nurturing actuarial skills and advancing diversity within South Africa’s actuarial profession. Our mission is to increase the number of Black actuarial professionals, promoting diversity, equity, and inclusion throughout the field.
Established in 2003 with support from Sasria SOC Ltd, our head office is located in Sandton, Johannesburg, with Student Support Offices (SSOs) at universities nationwide.
Since our inception, we have actively served in the Transformation Committee of the Actuarial Society of South Africa (ASSA), advocating for change and championing diversity. Our impact extends beyond the professionals we produce, touching the lives of their families, communities, and the nation as a whole.
We are leading the way in changing the actuarial profession in South Africa by nurturing our student’s potential for greatness. We accomplish this through:
Our vision is to champion diversity and promote equitable access to the South African Actuarial Profession and build a thriving and future-ready professional community.
Our commitment to diversity, equity, and inclusion drives our culture, growth, and innovation, impacting both the workplace, the actuarial field, and the students we support. These values serve as our guiding principles:
We nurture talent and care about the holistic development of students.
We value and celebrate different people and perspectives.
We stand for what is right, equitable and just.
We build strong relationships and collaborate for the greater good of the profession.
Continually developing and improving to meet the evolving needs of the profession.
To promote a fair, inclusive, and forward-thinking Actuarial Science education environment that removes obstacles which prevent Black youth from participating in a successful, future-oriented professional community. We will accomplish this by:
We strive to promote diversity and ensure equitable access and inclusive practices, that acknowledge everyone’s competency. We do this by:
Increase the number of Black students in the pipeline of Actuarial Science studies and the professional space.
Leverage the strengths of all people and promote a shared sense of openness, belonging and acceptance for Black individuals and women within the Actuarial Science Profession.
Narrow the representation gap and align the number of Black Actuaries and female representation with the demographics of the country.
Raise awareness, improve accessibility, and expand opportunities for Black students to enter the Actuarial Science Profession.
Provide comprehensive, wrap-around support and enhanced access to a robust integrated network of professional support to young Black students on their journey through Actuarial Science education.
Advance Actuarial Science education among Black students to produce skilled, confident professionals who can lead with empathy.
Lead and develop a future-ready profession that is aligned with the skills of the future and elevate the relevance, value, and reputation of Actuarial Science profession in the world.
As the leader in revolutionizing the actuarial industry, our goal is to:
In our commitment to driving transformation agenda in the actuarial profession, we will:
17 Fricker Road
Illovo, Sandton
Johannesburg
2196
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