Does Old Mutual offer bursaries only for actuarial science?

No. While actuarial science is a priority area, Old Mutual also funds students in IT, data science, accounting, finance, and economics, among other fields.

Can I apply if I am studying at a university of technology?

Old Mutual primarily funds students at traditional universities, but applications from students at universities of technology in relevant programmes may be considered on merit.

How competitive is the Old Mutual bursary?

The bursary is highly competitive. Applicants for actuarial science positions in particular are expected to have exceptional mathematics marks, often 85% or above.

Are international students eligible?

No. The Old Mutual South Africa bursary programme is open to South African citizens and permanent residents only.

What is the work-back period?

The work-back period is typically one year per year of funding. Old Mutual endeavours to place bursars in roles that match their qualifications and career interests.

Last updated: June 2026— Information is subject to change. Always verify with the relevant government department.

Old Mutual Bursary 2026: Full Application Guide

Old Mutual Limited, one of Africa's largest financial services groups, runs a competitive bursary programme for South African students pursuing careers in actuarial science, finance, information technology, and related fields. The bursary provides full financial support and offers recipients meaningful exposure to the financial services industry through structured internship and vacation work programmes. Applications for the 2026 intake typically close in October.

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About the Old Mutual Limited Bursary

Old Mutual was founded in Cape Town in 1845 and has grown into a pan-African financial services group offering insurance, savings, banking, and asset management products to millions of customers. With a presence in 14 African countries and a listing on the Johannesburg, London, and Zimbabwe stock exchanges, Old Mutual is one of the continent's most recognised financial institutions. The Old Mutual Bursary Programme is a reflection of the company's commitment to developing financial services talent in South Africa. Old Mutual has long been a destination employer for actuaries, quantitative analysts, and finance professionals, and the bursary is one of the ways it identifies and nurtures top young talent early in their academic careers. Bursars are integrated into Old Mutual's graduate talent pipeline, with many going on to complete the Old Mutual Graduate Programme upon finishing their studies. The company places a strong emphasis on transformation and actively seeks applicants from previously disadvantaged backgrounds.

What the Bursary Covers

Full tuition and registration fees
Study materials and textbooks
Accommodation allowance
Monthly living stipend
Paid vacation work / internship at Old Mutual offices
Professional coaching and mentorship
Exam fees for professional actuarial examinations (for actuarial bursars)

Eligibility Requirements

Citizenship: South African citizen or permanent resident
Study level: Undergraduate degree at an accredited South African university
Fields of study: Actuarial Science, Mathematics / Applied Mathematics, Statistics, Finance / Financial Mathematics, Accounting, Information Technology / Computer Science, Data Science, Economics
Academic average: Minimum 70% average in Grade 12, with at least 80% in Mathematics for actuarial science applicants
Financial need: Financial need is considered; the programme seeks to support talented students who may not otherwise be able to afford tertiary education
Work-back obligation: One year of employment at Old Mutual for each year of bursary received; negotiable depending on circumstances

When to Apply

Applications open in August and close in October. Students starting in January must have their application finalised before year-end.

How to Apply — Step by Step

Visit oldmutual.com and navigate to the Careers and Bursaries section.
Complete the online application form with your personal details, academic history, and chosen field of study.
Prepare and upload a motivational letter explaining your career ambitions.
Attach certified copies of all required supporting documents.
Submit the application online before the October closing date.
Shortlisted applicants will be invited for an interview and may undergo psychometric or aptitude testing.

Documents Required

Certified copy of South African ID
Certified copy of Grade 12 results (final or preliminary)
Tertiary academic transcript (if already studying)
Proof of acceptance or registration at university
Motivational letter
CV
Proof of family income (payslips or affidavit)
Two academic or professional references

Tips and Additional Information

Old Mutual is one of the few South African corporates that also assists bursars with the costs of writing professional actuarial board exams, which are expensive and typically self-funded. Actuarial bursars are often paired with a qualified actuary mentor within Old Mutual who helps them navigate both their academic and professional development. Old Mutual strongly encourages applications from women and students from rural or semi-urban areas.

Contact Details

Official website: https://www.oldmutual.com/careers/bursaries
Email: bursaries@oldmutual.com
Old Mutual manages bursary applications through its online talent portal. Do not send physical applications.

Frequently Asked Questions

Disclaimer: CitizenHelp is an independent information resource and is not affiliated with any government department. This content is for general guidance only. Always verify with official sources before taking action.