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Bursary fund makes head way in increasing black CA’s

Thu, 13 Mar 2008 09:05

Thuthuka, the South African Institute of Chartered Accountants’ (SAICA) initiative aimed at boosting the number of black South African chartered accountants, is yielding positive results.

Since its inception in 2004, the first group of 43 Thuthuka students have graduated and are now at honours level.

An overview of the 2007 university pass rate reveals that 88% of Thuthuka-sponsored students got through their first year examination and 82% passed second year.

A total of 703 students have benefited from the Thuthuka Bursary Fund thus far.

“If success is measured in terms of tertiary education results, as indeed it should be, then Thuthuka has not only met but surpassed our expectations,” says Chantyl Mulder, SAICA's Transformation Executive.

Thuthuka Bursary Fund manager Nthato Selebi says, “These statistics are well ahead of the national averages. Bear in mind that given the extremely demanding nature of the course, pass rates are low. In this light, our students have done particularly well.”

South Africa currently has a total of 26 915 chartered accountants a figure which is considered low in servicing a country the size of South Africa, says SAICA’s Transformation communication officer Kgaogelo Swartland.

“Of the total number of CA’s 931 are African, 513 are coloured, 2019 are Indian and 23 414 are white. It is this imbalance that brought about Thuthuka. We would like to raise the statistics to be more representative of South Africa’s demographics,” says Swartland.

Thuthuka nurtures promising black students from high school, through university and, ultimately prepares them for their qualifying examinations towards becoming chartered accountants.

The bursary covers the seven years of tuition required to qualify as a CA. SAICA, with the help of the Department of Education as well as private accounting firms, cover all expenses such as books and accommodation as well as funding extra classes and support groups.

One of the greatest challenges facing Thuthuka is the low mathematics pass rate of black students. “There are just not sufficient a number of African learners who pass matric mathematics at the higher grade. In 2008 we awarded 271 bursaries, short of the targeted 300,” said Selebi.

Swartland says that this is further exacerbated by competition with other industries who are targeting the same group of top African mathematics students. “There are many industries competing for the best young minds so part of our job has to be career awareness directed at those still in school.”

Based on a 70% pass rate projection, SAICA anticipates that more than a 100 Thuthuka Bursary Fund students will be writing examinations at honours level in 2009.

Thuthuka is a Zulu verb meaning 'develop'.

Applications for Thuthuka Bursaries closes in June each year. For more information visit www.saica.co.za or call 08610 SAICA (7422) or send an email to JaneS@saica.org.za

- SA GoodNews