BANKSETA ANNUAL REPORT 2023

PERFORMANCE INFORMATION

Success stories

BANKSETA bursary contributes towards gender parity In the male-dominated world of actuarial science, in which only 15% of qualified practitioners are women, BANKSETA’s bursary funding of Clarice Naidu is all the more noteworthy. Clarice had completed her BSc in actuarial science when the COVID pandemic struck, causing her family real financial hardship, and putting her qualification as an actuary at risk. She was also going through a tough time with board exams of the Actuarial Society of South Africa (ASSA). Fortuitously, it was also the time when colleagues of the BANKSETA visited her university campus in the Free State and gave what she described as a “really inspiring” address, during which she realised she could still make her dreams come true. An application for a bursary from BANKSETA followed, and now this bright young woman is well on her way to contributing to South Africa’s economy through her actuarial skills. Currently she has passed four of the 16 exams to be written and is pursuing another four. Clarice describes her work as dealing with predictive modelling in which a problem is considered and the outcome predicted. A new development is the use of artificial intelligence to do so. Clarice is deeply grateful to the BANKSETA for giving her the opportunity to continue with her studies through a bursary. Her immediate goal is to complete all the ASSA board exams and then to find employment so that she can assist her family, who have made great sacrifices for her studies. “This bursary has been a dream come true. I am beyond thankful to the BANKSETA for how it has changed my life and that of my family,” she concludes.

Clarice Naidu Bursary beneficiary

“This bursary has been a dream come true. I am beyond thankful to the BANKSETA for how it has changed my life and that of my family.” - Clarice Naidu

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BANKSETA ANNUAL REPORT 2022/23