African Risk Capacity Limited And Milliman Inc. Are Expanding Accessibility For The Climate Risk Insurance Industry

• Africa Risk Capacity (ARC) Ltd. and Milliman Inc. have once again collaborated to give two more students an opportunity to apply for the Africa Scholarship Programme. 
• The Africa Scholarship Programme will assist students who cannot afford postgraduate studies.
• Female students are strongly encouraged to apply.
• Applications will open on 1 December 2024 and close on 31 March 2025. 

Following the successful launch of its postgraduate Scholarship Programme in 2023, Africa Risk Capacity (ARC) Ltd. is collaborating with consulting and technology firm Milliman Inc. again to give African students another chance to participate in the programme. Applications will open on 1 December 2024 and close on 31 March 2025. 

ARC Ltd. CEO Lesley Ndlovu, who developed the programme in conjunction with Milliman Principal and Consulting Actuary Joy Schwartzman, understands the potential impact it can have. “I was a beneficiary of a scholarship which was the foundation of my career. Working with Milliman to set up our own scholarship programme is my way of contributing to expanding access to opportunities for the next generation,” he notes.

“The Africa Scholarship Programme aims to empower the next generation of leaders who are driving solutions to the continent’s climate threats. It will assist students who can’t afford postgraduate studies and encourage female students to apply, with the goal of promoting gender equality in the industry,” says Milliman Chief 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 their studies at the Institut de Formation en Alternance pour les Générations Engagées (IFAGE) in Dakar, Senegal in January. Doreen Mulwa from Kenya and Maulid Seleman from Tanzania will embark on their academic journeys at the University of Cape Town in 2025. 

Next year, two new scholarships will be offered to qualifying applicants. These scholarships are specifically for students who have gained admission to advanced programmes in Actuarial Science, Risk Management and Insurance, or Agricultural Statistics. It covers full tuition, housing, living stipends, and other essential expenses for up to two years of full-time study at selected universities in Africa, including: 

• École Nationale Supérieure de Statistique et d’Économie Appliquée, ENSEA, in Abidjan, Côte d’Ivoire;
• The Institut Interafricain de Formation en Assurance et en Gestion des Entreprises, IFAGE in Dakar, Sénégal;
• University of Cape Town in South Africa

The programme aligns with ARC Ltd.’s important work in Africa, where it has been offering disaster risk insurance to member states since 2014, and also supports Milliman’s social responsibility goals. Milliman, which uses its actuarial expertise and modelling frameworks to help reduce risk in vulnerable countries, will provide the funding, while ARC Ltd. will implement the programme on the ground, leveraging its relationships with African member states to make it a reality. 

Graduates will also get the opportunity to pursue their dream climate careers. “We desire to see these graduates succeed, and therefore ARC Ltd. and Milliman will also be providing internships to give them a strong foundation in their chosen careers and an immersion in the challenges of risk management,” Ndlovu concludes.

Details of the scholarship can be found in the brochure and the application forms are available on https://africanscholarship.org/.