AS South Africa continues to strive for greater diversity and inclusion across industries, the South African Actuarial Development Programme (SAADP) proudly marks 21 years of driving meaningful transformation in the actuarial profession.
Since its establishment in 2003, SAADP has played a pivotal role in bridging the gap for Black actuarial talent, ensuring that the profession reflects the diverse demographic landscape of the country.
For over two decades, SAADP has provided critical support—through financial assistance, mentorship, and career development—to students from historically disadvantaged backgrounds, enabling them to thrive in one of the most demanding professions. By fostering a more representative actuarial field, SAADP has actively contributed to economic empowerment and social mobility for many young professionals.
“As we celebrate 21 years of transformation, we reaffirm our commitment to nurturing Black actuarial professionals and breaking down systemic barriers,” said Nthato Selebi, Executive Director of SAADP.
“Our goal is not only to increase the number of Black actuaries but also to ensure that they have the necessary support to excel and lead in the industry.”
Bridging the Gap: Diversity and Inclusion in the Actuarial Space
Despite progress, actuarial science remains one of the least diverse professions in South Africa.
According to the Actuarial Society of South Africa’s (ASSA) 2020 Diversity and Inclusion Report, Black (African, Coloured, and Indian) actuaries make up a small fraction of the overall actuarial community. Many Black students still face financial constraints and limited access to networks and resources necessary for success in the profession.
SAADP has worked tirelessly to change this narrative by supporting students across various ASSA-accredited universities, including the University of Cape Town (UCT), University of Pretoria (UP), and University of the Witwatersrand (Wits), with plans to expand to more institutions.
With a strong alumni network and growing partnerships, SAADP has successfully placed many graduates in leading actuarial roles, driving both corporate and public sector transformation.
The Need for Sustainable Funding
While SAADP has made a remarkable impact over the years, continued progress hinges on sustained financial support.
Funding remains a critical factor in providing bursaries, mentorship programs, and holistic student development. Without adequate investment, many promising students risk losing access to opportunities that could change their futures and contribute to a more equitable actuarial profession.
“We have witnessed firsthand the power of education and opportunity in changing lives, but transformation cannot happen in isolation. To sustain and expand our impact, we call on corporate South Africa, government institutions, and individual benefactors to invest in the future of the profession,” Selebi emphasized.
As SAADP celebrates 21 years of progress, the organization invites stakeholders to join in its mission of fostering diversity, equity, and excellence in the actuarial profession.
For more information or to contribute to SAADP’s efforts, visit www.saadp.co.za
