Looking for funding to become a chartered accountant? Thuthuka has you covered

The South African Institute of Chartered Accountants (SAICA) is constantly working to fix the member demographics of the chartered accountancy profession to be reflective of those of the country. One of the ways in which it does this is through the Thuthuka Bursary.

A bursary like none other, Thuthuka covers the following as a basic: tuition, books, meals, residence fees and accommodation for the full years of study where a student continues to pass their degree within the requisite time period. Moreover, the programme follows an integrated and holistic approach to ensure success, by providing students with ‘wrap around’ support in the form of, among others:

• academic support, including various academic enrichment programmes such as additional tutorials, study skills workshops and more
• social and emotional support
• work-readiness and life skills training
• mentoring and counselling and
• access to dedicated programme manager exposure to experienced chartered accountants and business leaders as mentors

This model makes Thuthuka students more successful than their counterparts. It is also this approach that makes Thuthuka students ready to face the challenges of the workplace.

Thuthuka beneficiary, Kim Christian (CA[SA]), who is now a financial manager working at a mining company speaks about what the Bursary did for her: “Thuthuka supported me greatly as a student. As a student you sometimes feel like you are a tiny fish thrown into the big ocean, but with Thuthuka it feels like you have a family that has your back and wants you to be successful – you in turn want to make yourself and your family proud. The financial support changed my life. As a student, knowing that I did not have to worry about tuition fees gave me room to focus on being the best student I could be. This coupled with the academic and social support that Thuthuka offers, is honestly what carried me through my four years at the University of Cape Town until graduation in 2014.”

Another beneficiary, Sherwin Thomas (CA[SA]), who is now a financial manger working in auditing, shares a similar story: “Getting funded by Thuthuka gave me a stress-free studying environment because Thuthuka covered my books and fees. It helped me focus on my studies, and not having to worry about the source of funding my journey to becoming a chartered accountant.

These are not the only people who can attest to the hat Thuthuka has brought into their lives. To date, Thuthuka has supported over 4 000 African and Coloured students of which:

• Over 1 500 Thuthuka recipients have qualified and registered as CAs(SA) – an incredible achievement, considering that it takes a minimum of seven years to qualify as a CA(SA); and
• 2 000 more are currently completing various stages of the CA(SA) qualification process.

The application window to apply for the Thuthuka Bursary 2022 is currently open. To apply, visit www.thuthukabursaryfund.co.za and submit your application before the end of August 2021.

The criteria to apply for a Thuthuka bursary is qualify for the Thuthuka bursary, you must:

• be a South African citizen;
• be black African or Coloured;
• be either in Grade 12, out of school (with Matric) for no more than two years or a university student currently studying a CA-stream BCom degree;
• have obtained at least 60% (5 or above on the NSC scale of achievement) in Mathematics in Grade 11 or Matric (Maths Literacy and Technical Maths learners are NOT considered);
• have applied to or are currently studying a BCom Accounting (CA stream) degree at a Thuthuka partner university. The full list of universities offering the Thuthuka programme can be found on SAICA’s website;
• come from a family that has a combined income of R350 000 per annum or less; and
• write and pass the National Benchmark Test (NBT).

SAICA, South Africa’s pre-eminent accountancy body, is widely recognised as one of the world’s leading accounting institutes. The Institute provides a wide range of support services to more than 46 000 members and associates who are chartered accountants [CAs(SA)], as well as associate general accountants (AGAs(SA)) and accounting technicians (ATs(SA)), who hold positions as CEOs, MDs, board directors, business owners, chief financial officers, auditors and leaders in every sphere of commerce and industry, and who play a significant role in the nation’s highly dynamic business sector and economic development.

Chartered Accountants are highly valued for their versatile skill set and creative lateral thinking, that's why the top 100 Global Brands all employ Chartered Accountants*.

*Source: CAW, 2020 – Interbrand, Best Global Brands 2019

One of SAICA’s prime goals is to contribute towards strengthening the country’s economy by playing a significant and leading role in transformation and skills development. Through Thuthuka, a pioneering initiative to promote transformation in the profession, SAICA launched its transformation efforts in the Eastern Cape in 2002 and has grown this into a national project that includes various interventions across the education value chain as well as the highly successful Thuthuka Bursary Fund (which was established in 2005).

Thuthuka’s objective is to transform the demographics of the profession to reflect those of the country in terms of race and gender, and provide educational support to African learners and students for the benefit of the profession, while simultaneously helping to uplift communities. Therefore, SAICA prides itself in leading the chartered accountancy profession as a socially responsible driver of business and skills development by supporting and encouraging enterprise development initiatives.

Ms Karin Jacobsen
Project Manager: Marketing and Communications
SAICA Nation Building Division
Tel: ‪011 621 6913
Email: ***@saica.co.za

Mr Kulani Chauke
Corporate Communications Co-Ordinator, Marketing & Communications (SAICA)
Tel: 011 479 0698
Email: ***@saica.co.za