The South African Actuaries Development Programme (SAADP) is an independent, non-profit organisation that was established with the backing of SASRIA LTD. The programme seeks to actively address the problem of the acute shortage of actuarial skills in the black community in South Africa.

We do this by unearthing and harnessing mathematical and analytical skills amongst black students in order to expose and help them to capitalise on career opportunities in the field of Actuarial Science. We create greater awareness, understanding and appreciation of Actuarial Science as a field of study. After careful selection, students receive a comprehensive bursary and support for their studies over a four year period. The entire process, from selection through to graduation, is carefully structured so as to serve the objectives of the programme.

The role of Actuaries in our economy

Actuaries are business professionals who work in organisations whose success depends on managing financial consequences of risk based on the likelihood of certain events taking place. They use mathematical and statistical skills to solve problems in the future that involve the flow of money. It takes a combination of strong analytical skills, business knowledge and an understanding of human behaviour to design and manage programs that control financial risk.

Most Actuaries work in the financial services sector in fields such as:

•    Investment
•    Marketing
•    Life Insurance
•    Retirement Funds
•    Health Insurance and Medical Aids
•    Government Departments
•    Accounting Firms
•    General Management