History of ASABA:
The Association of South African Black Actuarial Professionals (ASABA) was established in March, 2005 to address the dearth of actuarial and quantitative skills amongst previously disadvantaged communities in South Africa, by initiating a mutually beneficial set of skills development interventions. ASABA was created to directly tackle these issues through commitment, both as individuals and as an organization, and establishment of three key functions: a holistic mentoring capability; a vacation work placement scheme; and a duty to make the actuarial profession in South Africa more accessible and inclusive of all races. During 2005 the Association established a presence in both Johannesburg and Cape Town, ASABA immediately began to implement its vision through the launch of a number of programmes and initiatives, including the mentorship programmes for university students at the University of Witwatersrand (WITS) and the University of Cape Town (UCT), through the success of the growing vacation work pilot project with a small group of participating employers.
To realize a South African actuarial profession that represents the demographics of South Africa.
- To promote training and technical education in the actuarial profession;
- To establish a fund to provide scholarships, bursaries, awards and loans to study, research and teaching related to or from the benefit of the actuarial profession;
- To provide career guidance and counselling services to persons attending secondary or tertiary school or other accredited higher education institutions;
- To create awareness of the work, objectives and ideals of ASABA and the actuarial profession in the Black community.