The Thuthuka Bursary was first established in 2002 by SAICA (South African Institute of Chartered Accountants), an institution of accountancy formed in South Africa. The organization was first formed in 1894 in Johannesburg, known as The Institute of Accountants and Auditors back then. The bursary was upheld by the Thuthuka Education Upliftment Fund, or TEUF, and it bears two major goals: Increase the amount of CAs (SA), and Adjust the demographics within the profession so that they can be more suitable with profile of the country’s demographic. Etymologically speaking, the word Thuthuka means “to develop” in Zulu: A word that signifies just how action-oriented the bursary is when it comes to transforming the face of accounting as a profession in South Africa. Simply put, the TEUF is basically an entity through which skills can be developed and properly implemented. The Fund is listed in section 18(A) of Income Tax Act as an organization for public benefit. Meanwhile the organization is headquartered at 15 Fricker Road, Johannesburg. The main concern used as a basis for the bursary would be the fact that there are a lot of African and colored students across the country who are at a disadvantage at the moment, making them unable to achieve their dreams of becoming chartered accountants.
The bursary seeks to strengthen the and empower chartered accountant as a profession in general and transform the face of South African accountancy in terms of its demographics through: Making advancements in education, Ensuring the youths are empowered, and Providing a sustainable environment for the CA as a profession.
ABOUT THUTHUKA BURSARY FUND OPPORTUNITY
With a total amount of members amounting to more than 36,000 individuals, SAICA has been a leading institute in the country. The institute worked alongside ABASA (Association for the Advancement of Black Accountants) as well as the PAAB to form CA’s Eden Trust, a precursor to what is today known as the Thuthuka Bursary Fund.
The Thuthuka bursary is meant for black and colored students with strong academic prowess, with a single focus on those excelling in mathematics. The presence of this bursary is intended to provide help and assistance for those at a disadvantage to be able to pursue a career as chartered accountants. The bursary is offered through some universities that have been selected by the organization, for specific courses. Among them are:
Bachelor of Accounting at the University of Johannesburg with a course code of BCA012; BCom Accounting Sciences at the University of Pretoria with a course code of 07130042; BAcc Science at the University of Witwatersrand with a course code of CB008; Bachelor of Accounting at the University of the Free State, Bloemfontein Campus with a course code of 6319; B Commerce in Accounting at the University of Fort Hare with a course code of 60001; BCom at the University of Cape Town with a course code of CB023; The University of Western Cape with a course code of either 1021 or 1753; BCom Accounting/B Rek at the Stellenbosch University with a course code of 3091001; Bachelor of Commerce (Accounting) at Rhodes University; BCom Accounting at Nelson Mandela University with a course code of 40003; BCom CA at North-West University, Potchefstroom Campus with a course code of 500 155 E371P and BCom Accounting at the University of Kwa-Zulu Natal, Westville Campus with a course code of BCOA.
All recipients of the bursary will have to sign agreements with both the NSFAS and TEUF. The bursary is accessible every year and can be renewed as per reviews by the funding organization. One good sign of application being accepted is that the shortlisted individuals will get notified by December of each year. Those who don’t receive notifications are definitely not qualified.
To get shortlisted for the Thuthuka bursary, applicants must meet the following criteria:
An individual of South African citizenship; An individual of black group or colored skin; An individual having completed matric or currently in matric; An individual passing Mathematics in matric Mathematical Literacy and Technical Mathematics excluded); An individual having achieved a Bachelors Pass and M-Score to in order to learn the qualification for CA (SA); An individual currently studying or planning on studying at one of the universities selected above; And individual having applied for entry to at least 3 of the aforementioned universities with one of said options located near the individual’s residence; An individual qualified to study a degree of BCom Accounting (CA-stream); An individual with a confirmed financial need (NSFAS will assess the test) and An individual applying for the bursary before the closing date. You can see more information in here: THUTHUKA INFORMATION
The closing date is fixed, meaning any applications sent after the stated date will never be considered; so one must be very attentive to this date in order to qualify for being shortlisted.
Aside from missing the closing date, another thing that will render an application ineligible would be inability to include compulsory documents. Said documents are not to be missed and include:
A certified copy of ID document; A certified copy of the results of Grade 11; A certified copy of the latest matric results (if currently in matric); A certified copy of the final matric results (if completed); If currently in matric, include the proof of provisional acceptance from the university; If currently studying, include full academic record from the university; Certified copies of ID documents of the parents/guardians; Certified copies of proof of income of parents/guardians (employed: latest pay slips; unemployed: affidavit); Certified copies of ID documents or birth certificates of other dependents currently living with the applicant, if any and A signed consent form from Thuthuka (can be downloaded from reliable sources on the internet.
SAICA can be contacted directly should anyone with further concerns have any questions to resolve. Try getting on the Institute’s official website to find out more about the bursary and anything else in between related to it.