SAADP Bursary 2027 – Actuarial Science

About the Provider

The South African Actuaries Development Programme, known as SAADP, is an independent non-profit organisation established in 2003 with a clear mandate: to address the critical shortage of black actuarial professionals in South Africa's financial services sector. Previously chaired by Cyril Ramaphosa, the programme has produced more than 200 Actuarial Science graduates since its founding and continues to be one of the most respected transformation-focused bursary initiatives in the country.

The SAADP is funded by a consortium of major financial institutions and sector education authorities including FirstRand Foundation, Deloitte, Discovery, Insight, Sasria SOC Limited, BankSETA and INSETA. This broad funding base reflects the industry's collective commitment to building a more representative actuarial profession. The organisation operates on core values of excellence, integrity, professionalism, transparency and a supportive, nurturing approach to student development.

Beyond financial support, the SAADP provides a comprehensive development ecosystem that includes academic tutoring, mentoring, psychosocial support and work-readiness programmes. The goal is not simply to fund students through university, but to produce confident, capable actuarial professionals who are ready to contribute meaningfully to the industry from day one of their careers.

About the Program

The SAADP Bursary Programme supports students studying Actuarial Science at one of three partner universities: the University of Cape Town, the University of Pretoria, or the University of the Witwatersrand. The programme targets high-potential learners from disadvantaged backgrounds who demonstrate exceptional academic ability, particularly in Mathematics and the Sciences.

What sets this bursary apart from a standard tuition-only award is the depth of support provided. Recipients receive comprehensive financial coverage including tuition fees, accommodation, meal allowances, textbooks and study materials. But the programme goes further with structured psychosocial support, access to tutorials, mentoring relationships with qualified actuaries, academic development initiatives, and exposure to personal and professional development programmes including leadership training and work-readiness preparation.

Bursaries are renewable each year based on academic performance and the availability of funds, which means students who maintain strong results can be supported through their entire undergraduate degree and into Honours. The selection process is rigorous: applications are initially screened based on supporting documents and academic performance (Grade 11 final results and Grade 12 June results), then forwarded to partner universities for further verification. Successful candidates receive formal offers through the application portal.

Students from non-partner universities are welcome to apply, but they must have applied to and been accepted at one of the three partner institutions. This ensures that all bursary recipients benefit from the established support structures and academic relationships that the SAADP has built at UCT, UP and Wits over more than two decades.

Bursary Benefits

• Tuition fees fully covered at your partner university
• Accommodation at on-campus or approved residence housing
• Meal allowance for the duration of your studies
• Textbooks and study materials provided each academic year
• Psychosocial support including access to tutorials, mentoring and academic development
• Personal and professional development through work-readiness programmes and leadership training
• Renewable funding each year based on academic performance
• Network access to qualified actuaries, industry mentors and fellow SAADP scholars

Eligibility Criteria

• Citizenship: Must be a South African citizen
• Academic level: Must be currently in Matric (entering 1st year in 2027) OR in 1st, 2nd, 3rd year or Honours level of study
• Field of study: Must be studying or intending to study towards an Actuarial Science qualification
• University: Must be studying or intending to study at a SAADP partner university — UCT, University of Pretoria, or Wits. Students from non-partner universities may apply but must have applied to and been accepted at a partner institution.
• Mathematics: Minimum 80% in Mathematics (not Mathematical Literacy) in Matric
• English: Minimum 80% in English in Matric
• Physical Science: Minimum 80% in Physical Science in Matric (may not be required at all universities)
• Academic consistency: Must demonstrate strong and consistent academic performance throughout studies
• Financial need: Must have proven financial need

Required Documents

• ID document or ID card (certified copy)
• Grade 11 final results and Matric June results (if currently in Matric)
• Matric final statement of results / NSC certificate (to be submitted when results are released) — certified copy
• Academic transcript (if currently at university)
• Acceptance or provisional admission letter to one of the partner universities, on the institution's official letterhead

How to Apply

1. Check your eligibility against every criterion listed above. Pay special attention to the 80% minimum requirements in Mathematics, English and Physical Science.
2. Register an account on the SAADP application portal at applynow.saadp.co.za.
3. Log in to the portal with your registered credentials.
4. Complete the online application form in full. Do not leave any sections blank.
5. Upload your supporting documents — ID, academic results, acceptance letter. Ensure all certified copies are clear and legible.
6. Submit your application before the closing date of 30 September 2026.
7. Monitor the portal for any status changes. Successful candidates receive formal bursary offers through the portal.
8. Submit your Matric final results as soon as they are released if you are currently in Grade 12.

Tips for Success

• Start early with your Matric results. The SAADP screens heavily on Grade 11 finals and Grade 12 June results. If your marks are below 80% in Maths, English or Science, focus on improving them before the application window opens.
• Apply to a partner university first. You need an acceptance or provisional admission letter from UCT, UP or Wits. Start your university application process months before the bursary deadline.
• Demonstrate financial need clearly. This programme targets students from disadvantaged backgrounds. Be honest and thorough when documenting your financial situation.
• Get your documents certified early. Certified copies of your ID and results take time to arrange. Do not leave this to the last week.
• Show academic consistency. The SAADP values students who perform well consistently, not just in one term. Make sure your transcript shows a strong upward trend or sustained high performance.
• Understand what actuarial science involves. Research the profession before applying. The panel can tell when applicants have a genuine interest versus those who are just chasing funding.
• Check the portal regularly after submitting. Offers are made through the application portal. Do not rely on email alone.
• Prepare for a rigorous programme. This is not just money — it comes with mentoring, tutorials and development programmes. Be ready to engage fully.

Career Prospects

Actuarial science is one of the most lucrative and in-demand professions in South Africa. Qualified actuaries work across insurance, banking, investment management, consulting, healthcare, retirement funds and increasingly in data science and risk analytics. Starting salaries for actuarial graduates are among the highest of any profession, and qualified Fellows of the Actuarial Society of South Africa (FASSA) command premium compensation.

The SAADP specifically aims to transform the demographics of the actuarial profession. Graduates of the programme enter an industry that is actively seeking diverse talent, which means career progression is strong for candidates who combine technical excellence with the professional development the SAADP provides.

Typical career paths include trainee actuary at an insurance company, actuarial analyst in consulting, investment analyst, risk manager, healthcare actuary, pension fund actuary, and data scientist. With experience and professional qualification (passing the actuarial board exams), graduates move into senior roles such as chief actuary, head of risk, partner at a consulting firm, or chief financial officer.

The global nature of actuarial qualifications also means SAADP graduates can work internationally — the South African actuarial qualification is recognised in the UK, Australia, and many other markets.

Frequently Asked Questions

Who can apply for the SAADP Bursary?

South African citizens who are in Matric (entering first year in 2027) or currently studying at undergraduate or Honours level. You must be studying or intending to study Actuarial Science at UCT, UP or Wits.

What marks do I need?

Minimum 80% in Mathematics, 80% in English, and 80% in Physical Science in Matric. University students must demonstrate strong and consistent academic performance.

Can I apply if I study at a different university?

Yes, but you must have applied to and been accepted at one of the three partner universities (UCT, UP or Wits). You would need to transfer.

What does the bursary cover?

Tuition fees, accommodation, meal allowance, textbooks, study materials, plus psychosocial support, mentoring and professional development programmes.

Is the bursary renewable?

Yes — renewed each year based on academic performance and availability of funds.

When do applications close?

30 September 2026. Late applications are not accepted.

How do I apply?

Register at applynow.saadp.co.za, log in, complete the form, upload documents, and submit before the deadline.

What happens after I apply?

Applications are screened on documents and academic performance, then forwarded to universities for verification. Successful candidates receive offers through the portal.

Is Mathematical Literacy accepted?

No. You must have pure Mathematics with a minimum of 80%. Mathematical Literacy does not qualify.

Applications Closing

Applications close on 30 September 2026. Apply well before this date to ensure your submission is considered.

About the Organization

Tel: 011 642 2202 Email: myapplication@saadp.co.za