What the Scholarship Covers
Successful applicants will receive the following support:
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- Full payment of exam fees for IFoA exams CS1 and CM1
- Three months of structured tutorials, delivered by experienced actuarial educators, to prepare for the exams
- Mentorship and professional guidance from qualified actuaries throughout the preparation period
This package provides not only financial relief but also academic and professional support to help recipients succeed in their initial actuarial exams.
Eligibility Criteria
To be considered for the Africa Scholarship Fund, applicants must:
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- Be a citizen of an African country
- Be a current university student or a recent graduate (within the last two years)
- Have a strong academic record, particularly in mathematics, statistics, or a related field
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- Demonstrate financial need and lack of access to other sources of funding for professional exams
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- Show a genuine interest in pursuing a career in actuarial science
Applicants who have previously attempted IFoA exams but have not yet passed may also apply, provided they meet the eligibility criteria and demonstrate commitment to the profession.
Required Application Documents
Applicants must submit the following documents as part of their application:
- Academic transcripts covering all years of university study completed to date
- Degree certificate (if already graduated)
- Letter of recommendation from a university professor or current/former employer, highlighting the applicant’s academic ability, motivation, and suitability for the actuarial profession
Only complete applications will be reviewed. Incomplete or late submissions will not be considered.
Selection Process
The selection process is competitive and based on academic merit, demonstrated financial need, and potential for success in the actuarial field. All applications will be reviewed by a panel of qualified professionals.
Shortlisted candidates will be contacted by email after the application deadline. Interviews or follow-up documentation may be requested as part of the final selection process.
