By Inside Education
The Ikusasa Student Financial Aid Programme (ISFAP) and the ASISA Foundation have partnered to launch a new actuarial science bursary and financial literacy programme aimed at expanding access to one of South Africa’s critical scarce-skills professions.
The initiative, launched at the South African Institute of Chartered Accountants (SAICA) offices in Bryanston, will provide full bursary funding and support to 15 undergraduate and postgraduate actuarial science students from poor and missing-middle households across five universities.
Under the partnership, the ASISA Foundation will fund the bursaries, while ISFAP will administer tuition payments, monthly allowances and provide academic and psychosocial support to help students complete their studies.
The programme also incorporates the ASISA Foundation’s L+EarnSecure The Bag digital financial literacy programme, which aims to equip beneficiaries with long-term money management and financial planning skills.
ALSO READ: NSFAS receives over 51,000 applications for 2027 cycle in first four days
According to the programme framework, at least 90% of beneficiaries will come from African, Coloured and Indian backgrounds, while the initiative targets a minimum annual student retention rate of 90%.
Speaking at the launch, ISFAP board member Dr Portia Maluleke said many talented young South Africans were prevented from reaching their potential because of limited access to educational opportunities.
“The actuarial profession is one of South Africa’s most critical scarce-skills professions. It requires exceptional intellectual ability, resilience, discipline and determination,” she said.
ASISA Foundation chief executive officer Ruth Benjamin-Swales said the programme sought to do more than provide financial support.
“True development goes beyond funding; it shapes mindsets. Through this programme, we want to equip students to lead ethically and become active citizens who help solve the challenges our country and the world face,” she said.
ISFAP chief executive officer Werner Abrahams said the initiative demonstrated the impact that could be achieved through collaboration between organisations committed to expanding educational opportunities.
ALSO READ: Cosas gives Ramaphosa seven days to remove Gwarube, threatens protests
The partnership is designed to increase the number of actuarial graduates entering the profession while improving financial literacy among beneficiaries, contributing to efforts to diversify and strengthen South Africa’s actuarial talent pipeline.
The launch was attended by stakeholders from the higher education and financial sectors, including representatives from the South African Actuarial Development Programme and the Actuarial Society of South Africa.
