African Risk Capacity Limited And Milliman Inc. Are Expanding Accessibility For The Climate Risk Insurance Industry
- Africa RiskCapacity (ARC) Ltd. and Milliman Inc. have partnered again to offer two more students the opportunity to apply for the Africa Scholarship Program.
- The Africa Scholarship Program will assist students who cannot afford postgraduate studies.
- Female students are strongly encouraged to apply.
- Applications will open on December 1, 2024, and close on March 31, 2025.
Following the successful launch of its graduate scholarship program in 2023, Africa RiskCapacity (ARC) Ltd. has once again partnered with consulting and technology company Milliman Inc. to provide African students another opportunity to participate in the program. Applications will open on December 1, 2024, and close on March 31, 2025.
ARC Ltd. CEO Lesley Ndlovu developed the program with Milliman principal and consulting actuary Joy Schwartzman, who understands the potential impact the program could have. “I am a beneficiary of scholarships that have been the foundation of my career. Partnering with Milliman to establish our own scholarship program is my way of contributing to expanding access to opportunities for the next generation,” he noted.
“The Africa Scholarship Program is designed to empower the next generation of leaders and drive solutions to the continent’s climate threats. It will assist students who cannot afford postgraduate study and encourage female students to apply to promote gender equality in industry.” Chief Milliman said Sustainability and DEI Officer Christal Morris.
Last year, five scholarships were awarded to candidates from Cameroon, Côte d’Ivoire, Kenya, Tanzania and Togo.
Ange-Emmanuelle Gblaka from Côte d’Ivoire, Sandrine Dorvale Bassong Bayegle from Cameroon and Kossi Mose Doumassi from Togo began studying at the Institute for Alternative Training for the Engaged Generation (IFAGE) in Dakar, Senegal in January. Doreen Mulwa from Kenya and Maulid Seleman from Tanzania will start their academic journey at the University of Cape Town
Next year, two new scholarships will be available to qualified applicants. These scholarships are specifically targeted at students who have been admitted to advanced courses in Actuarial Science, Risk Management and Insurance, or Agricultural Statistics. It covers full tuition fees, accommodation, living allowance and other basic expenses for up to two years of full-time study at selected universities in Africa, including:
- National School of Statistics and Applied Economics, ENSEA, Abidjan, Côte d’Ivoire;
- IFAGE, the African Insurance and Business Management Training Institute in Dakar, Senegal;
- University of Cape Town, South Africa
The program is consistent with ARC Ltd.’s important work in Africa, where it has been providing disaster risk insurance to member countries since 2014, and also supports Milliman’s social responsibility goals. Milliman will use its actuarial expertise and modeling frameworks to help reduce risks in fragile countries, and the company will provide funding, while ARC Ltd. will implement the program on the ground, leveraging its relationships with African member states to make it a reality.
Graduates will also have the opportunity to pursue their dream climate careers. Ndlovu concluded: “We want to see these graduates succeed, so ARC Ltd. and Milliman will also provide internship opportunities to give them a solid foundation in their chosen careers and immerse them in the challenges of risk management.”
Details of the scholarship can be found in the brochure and application forms can be found at https://africanscholarship.org/.
