As the only special risk insurer in South Africa, Sasria SOC Ltd has supported the educational aspirations of young people in the country through its CSI projects. There are several organisations that we have partnered with to ensure that the investments we make are meaningful, impactful and change lives.
The South African Actuaries Development Programme (SAADP)
One of the institutions that we have formed a relationship with is the South African Actuaries Development Programme (SAADP). Actuaries are vital in the insurance industry, yet the qualification is one of the most challenging to obtain academically.
Our relationship with SAADP stems as far back as 2003 when Cyril Ramaphosa was the Chairman of the Board of Sasria. We pride ourselves on being the first institution to recognise and fund the SAADP at a time when only 14 Indians, 03 Coloureds, and 0 Black Africans were qualified Actuaries out of an estimated total of 450 Actuaries in South Africa.
We are grateful for continuing the relationship between SAADP and Sasria, especially with the appointment of the new Executive Director, Nthato Selebi, effective 01 June 2023. We have solidified our working relationship and believe that his leadership will continue to cement our relations and benefit young people in the country. The foundation has already been laid, but ours, along with Selebi, is to continue to do great work.
Since its inception in 2003, Sasria has contributed R99 million towards this impactful programme, and 569 students have graduated from the programme (404 Males &165 females). This cumulative contribution has gone a long way in creating accessibility for previously disadvantaged students who would not have been able to pursue studies in actuary without the partnership between the two organisations.
eduCate Maths & Science Programme
Sasria’s involvement in education is wider than that of higher education, and the institution has partnered with eduCate nationwide. eduCate deals with maths and science, and Sasria’s involvement cements its belief that maths and science are vital to the success of most careers.
eduCate is a Primestars initiative that presents a practical, scalable model to cover the matric curriculum and help learners improve in maths and science. To showcase how impactful the programme has been, there was an improvement in mathematics and science, as the eduCate initiative showed a minimum average of 15% in learners participating results. According to the matric results announcement by the Department of Basic Education, the report indicated that science marks increased to 76.2% in 2023 while mathematics marks increased significantly to 63.5%.
One of the beneficiaries of the programme is Nompumelelo Amukelwe Hlongwane from Katlehong Engineering School of Specialisation in Ekurhuleni. She alludes to how the programme gave her critical skills, allowing her to be more than ready for her exams.
UCT Online High School
In 2023, Sasria committed R6 million to UCT by partnering with the UCT Online High School for a period of three years. This partnership is unique in that it extends the reach of quality education to economically disadvantaged learners all across the country by making it possible for them to attend school online, something that would only be possible for some with the intervention of Sasria alongside other sponsors.
As an entity operating in a highly specialised field that provides special risk insurance offerings and products, it is essential for Sasria to make meaningful contributions to society through education. By creating more accessible access to quality education, we will be able to alleviate some of the difficulties that create the myriad of social challenges experienced in South Africa.
Sasria will continue to be a responsible corporate citizen with a conscience and remain committed to uplifting the South African society for the benefit of individuals, communities and the wellbeing of society.
The Sasria approach to CSI heavily relies on forming solid and strategic partnerships, such as the one with SAADP and Primestars. Through such partnerships, Sasria’s reach goes beyond its network and spreads to all corners of the country. Sasria remains dedicated to changing lives, advocating for quality education, and contributing to the success and future of the financial services sector.
Article by Tshepiso Chocho, Executive Manager, People Management
Sasria is an authorised FSP registered under license number 39117