The Africa Scholarship Fund Welcomes Applications For 2026

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Africa Scholarship Fund and 2026 IFoA Exams

The Africa Scholarship Fund Welcomes Applications for 2026 IFoA Exams

The Africa Scholarship Fund is now officially open for applications for the April 2026 examination session of the Institute and Faculty of Actuaries (IFoA). This scholarship program is a remarkable opportunity for aspiring actuaries across Africa who have the academic potential but face financial challenges in pursuing professional actuarial qualifications.

The Need for Actuarial Education in Africa

The Africa Scholarship Fund was established to strengthen the presence of qualified actuaries within the African continent.
By offering direct financial and academic support, the scholarship aims to remove barriers that prevent talented students from taking their first steps in the actuarial profession.
Through this initiative, the IFoA and its partners continue their commitment to increasing diversity, equity, and inclusion within the global actuarial community.
The scholarship is designed to empower university students and recent graduates who have shown excellence in mathematics, statistics, economics, or related disciplines.
It is particularly suited to individuals who demonstrate exceptional analytical skills and a strong interest in pursuing an actuarial career but lack the financial means to register for their first professional exams.

The Scope of the Africa Scholarship Fund

Successful applicants will receive a comprehensive support package designed to help them prepare effectively for their initial IFoA exams. The scholarship covers:

Full payment of IFoA exam fees for the CS1 (Actuarial Statistics) and CM1 (Actuarial Mathematics) examinations
Three months of structured tutorials, delivered by experienced actuarial educators who provide in-depth academic preparation and exam strategies
Mentorship and professional guidance from qualified actuaries, offering valuable insights into exam preparation, career development, and professional ethics

This all-inclusive package ensures that recipients not only receive financial relief but also benefit from tailored academic and professional support to help them excel in their actuarial journey. Moreover, they have an opportunity to study in an international community.

Qualification Needs

To be eligible for the Africa Scholarship Fund for the April 2026 IFoA exams, applicants must meet the following requirements:

Be a citizen of an African country
Be a current university student or a recent graduate (within the past two years)
Have a strong academic record, particularly in mathematics, statistics, actuarial science, or a related quantitative field
Demonstrate financial need and a lack of access to alternative sources of funding for professional exams
Show a genuine interest in pursuing a career in actuarial science

Applicants who have previously attempted IFoA exams but have not yet passed are also encouraged to apply, provided they meet all the eligibility requirements and remain committed to the actuarial profession. The aim is to have a good number of professionals from Africa.

The Needed Documents

Applicants must prepare and 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)
A letter of recommendation from a university professor or a current/former employer highlighting the applicant’s academic ability, motivation, and suitability for the actuarial profession
Please note that only complete applications will be reviewed. Incomplete or late submissions will not be considered.

The Path to Selection

The Africa Scholarship Fund selection process is highly competitive and based on academic excellence, demonstrated financial need, and potential for success in the actuarial field. Each application is reviewed by a panel of experienced professionals from the actuarial community.

Shortlisted candidates will be notified by email following the application deadline. Additional documentation or interviews may be required as part of the final selection phase. Successful candidates will then receive detailed instructions regarding their scholarship benefits, exam registration process, and access to preparatory tutorials.

Important Dates

All applications for the April 2026 IFoA exams must be submitted by November 16, 2025.
Late applications will not be accepted under any circumstances, so applicants are encouraged to prepare their materials early and ensure timely submission.

The Reasons to Apply to the Africa Scholarship Fund

The Africa Scholarship Fund provides more than just financial assistance—it offers a gateway to a rewarding and globally respected profession.
Actuaries play a vital role in managing financial risk, designing insurance products, and guiding economic decision-making.
Through this scholarship, students from across Africa can take their first step toward becoming qualified actuaries and contributing to the continent’s financial and economic development.
By participating in this program, recipients join a growing network of actuarial professionals and gain access to valuable mentorship opportunities that can shape their long-term career trajectory.

The Application Portal

Interested candidates can apply directly through the official Africa Scholarship Fund online application portal. Applicants are advised to review all eligibility requirements carefully before beginning the application process. It is also recommended to have all necessary documents ready for upload to avoid delays. The application form, along with detailed instructions on how to complete and submit supporting documents, is available through the following link: