The Bachelor of Science in Actuarial Science at Wits is one of South Africa's most demanding and highly rewarded degrees, combining advanced mathematics, statistics, economics, and financial theory to quantify and manage risk. All applicants must write the National Benchmark Tests, and applicants with an APS of 44+ and English Level 6 may be wait-listed. The programme prepares students for the professional actuarial examinations of the Actuarial Society of South Africa (ASSA) and international actuarial bodies, with exemptions possible through strong academic performance. Actuaries are among the highest-paid professionals in South Africa, working primarily in insurance, financial services, and consulting.
English Home Language or English First Additional Language: Level 7
Mathematics: Level 7
Physical Sciences: Level 7
APS: 44
Actuary – Quantifies financial risk using mathematical models for South African insurance companies, pension funds, and financial services groups including Discovery, Old Mutual, and Sanlam, earning among the highest graduate salaries in the country.
Investment Analyst – Evaluates securities, funds, and market trends for South African asset management companies including Allan Gray and Coronation, applying actuarial and financial mathematics.
Risk Manager – Develops enterprise risk management frameworks for South African banks, insurers, and corporates, complying with the Prudential Authority’s Solvency Assessment and Management (SAM) requirements.
Quantitative Analyst – Builds mathematical pricing and hedging models for derivative products at South African banks and financial institutions, applying stochastic calculus and computational methods.
Pension Fund Consultant – Designs, valuates, and advises on retirement fund solutions for South African retirement fund trustees and employers, registered with ASSA.
