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Postgraduate Actuarial and Other Sciences Scholarship Programme For African Students

For studies relating to mitigating the impact of climate change on African Nation economies

  • Are you a student studying actuarial or a related science who is an African citizen?
  • Would you like to take your post-graduate studies to the next level?
  • How does an internship after graduation sound?

Africa’s premier institution for disaster risk financing on and for the African continent, African Risk Capacity Ltd., and Milliman Inc., a risk management, benefits and technology company, have partnered to launch their postgraduate ARC Ltd-Milliman Africa Scholarship Programme exclusively for African students.

Aimed at studies relating to mitigating the impact of climate change on African economies, four scholarships will be offered to qualifying applicants to cover up to three years of further study at select universities on the continent.

They include École Nationale Supérieure de Statistique et d’Économie Appliquée, ENSEA, in Abidjan, Côte d’Ivoire; the Institut Interafricain de Formation en Assurance et en Gestion des Entreprises, IFAGE in Dakar, Sénégal; the National University of Science and Technology in Bulawayo, Zimbabwe and the University of Cape Town in South Africa.

You will be able to choose from the following programmes:

  • Bachelor of Commerce Honours specialising in Actuarial Science
  • Master of Science in Risk Management and Insurance
  • Master in Actuarial Science
  • Master in Agricultural Statistics

What Is Required From You?

College Student

If you are awarded a scholarship, you must agree to work in an African country for two years after graduation. There is also the potential for a year-long internship to provide a strong foundation in your chosen career.

  • The request for funding should be related to full-time Eligible Programmes.
  • The applicants shall be a citizen of an African Union member state.
  • Applicants must be holders a bachelor’s degree with Merits or honours in an area related to actuarial science, disaster risk management, mathematics, statistical engineering or a related discipline. Preference may be given to candidates who have some work or volunteer experience in a related field.
  • The scholarships are specifically for those applicants who have gained admission to a Master’s level programme.
  • Preference will be given to persons with experience (including internships) in national or regional agencies whose mandates are specific to risk management, disaster risk modelling, disaster risk management, meteorology, climate change, civil with environmental engineering or environmental management.

Other requirements and conditions

Scholarship Agreement

  • Recipients will be required to sign a Scholarship Agreement agreeing to the terms and conditions of the scholarship prior to the commencement of their programme

Bonding Requirements

  • Recipients will be encouraged to work in Africa for a period of 24 months immediately after completion of the Program.
  • Upon completion of the Program, recipients will be required to notify the Scholarship Committee of their employment at select times/intervals within the bonding period as stipulated in the signed Scholarship Agreement.

Thesis Topic

  • Recipients must select a thesis topic in an area in which ARC Ltd has an established interest or which is aligned to the ARC Ltd mandate and strategic objectives, with a focus on Africa continent.

Academic Performance

  • Recipients are expected to achieve academic excellence and are required to ensure that grades are at least a Merit or B grade.
  • A report on academic performance will be required at select times within the academic program.


  • Recipients who withdraw from the Program without good reason and the approval of the Academic Director, or who fail to complete the Program, will be required to repay the award.

Submission of application

All applicants must submit via the scholarship online platform below:

  • A complete application form
  • Three essays based on the prompt provided in the application form
  • A curriculum vitae
  • Copy of undergraduate degree and transcript; where the degree is not yet awarded by the application deadline date and will be awarded by the beginning of the postgraduate programme the most up to date transcript will be accepted
  • Letter of admission to one of the eligible programmes listed above
  • Details from the university of the cost of the Programme
  • Proof of citizenship (copy of passport or national identity document with valid dates)
  • Passport-size photograph

Applicants must also provide the following information:

  • Contacts of  two academic referees at the university level who can attest to the applicant’s academic ability and potential
  • Contact of a professional reference report from one of the following:
    • a current employer – this should explain how the nominee and the home institution will benefit from this new knowledge and expertise;
    • If not currently employed, a former employer – this should attest to the applicant’s skills and work professional demeanour and contributions to the institution
    • In the absence of professional experience, a project supervisor or supervisor for volunteer activities – this should attest to the applicant’s skills and contributions

Examination of application

  1. A Scholarship committee (the Programme Committee) will be set-up by both companies and will include a representative from Milliman, ARC Ltd.
  2. On the approval of the scholarship, the Committee would instruct the fund to make payment to the relevant Universities.