Vision
At the African Actuarial Development Academy, our vision is to be the premier centre of excellence, a significant facilitator in transforming the actuarial landscape in Africa. We envision a future with a thriving community of diverse and skilled actuaries, deeply rooted in the continent’s unique challenges and opportunities, actively shaping the trajectory of sustainable economic growth and social well-being across Africa.
Mission
At the African Actuarial Development Academy, our mission is to catalyse the advancement of the actuarial profession across the African continent. We are committed to nurturing a cadre of highly skilled and locally empowered actuaries who will play a pivotal role in driving sustainable economic growth, enhancing financial resilience, strengthening data driven decision-making and promoting social well-being across Africa.
Our mission encompasses
Educational Excellence: Providing world-class actuarial education and training programs that equip local aspiring actuaries within Africa with the technical proficiency, ethical awareness, and problem-solving skills necessary for success in the dynamic landscape of financial analytics and risk management.
Collaborative Partnerships: Building strategic alliances with industry stakeholders, regulatory bodies, educational institutions, and international actuarial organizations to create a collaborative ecosystem that supports the growth and relevance of the local actuarial profession in Africa.
Pan-African Inclusivity: Creating an inclusive learning and development environment that welcomes individuals from all over Africa with varying backgrounds, having a true pan-African reach
Professional Development: Offering continuous professional development opportunities to practicing actuaries, ensuring that they remain at the forefront of global industry advancements and are equipped to address the unique and emerging challenges in their local environment
Sustainability: AADA’s goal is to be funded sustainably using an endowment which will be appropriately invested and the investment income used to fund AADA’s activities on an ongoing basis, allowing future generations to benefit without needing to seek additional funding.
Local Impact: working together with local actuarial associations, providing them with the tools they need to address their own unique challenges. We are a facilitator and not a competitor.
By pursuing this mission, AADA envisions a future where actuaries from Africa are recognized globally for their expertise, innovation, and leadership in addressing complex financial challenges and emerging issues, and promoting sustainable development on the continent.
Alignment of Mission and Activities with SDGs
AADA contributes to several United Nations Sustainable Development Goals (SDGs) through its focused initiatives and educational programs aimed at advancing the actuarial profession and fostering sustainable economic development across Africa. AADA’s commitment to advancing the actuarial profession in Africa directly supports several SDGs by promoting education, financial resilience, economic growth, innovation, inclusivity, and partnerships.
SDG 1: Zero Poverty
AADA equips actuaries with the skills to design and manage effective social protection systems, such as pensions and health insurance, which help reduce poverty and enhance financial resilience. By promoting financial inclusion and providing innovative financial solutions for low-income populations, AADA supports the economic stability and well-being of vulnerable groups.
SDG 4: Quality Education
AADA plays a crucial role in enhancing the quality of education in Africa by providing world-class actuarial education and training programs. By equipping local aspiring actuaries with technical proficiency, ethical awareness, and problem-solving skills, AADA contributes directly to SDG 4. These skills enable actuaries to contribute effectively to economic growth and development in their communities.
SDG 8: Decent Work and Economic Growth
AADA’s mission to nurture highly skilled actuaries supports SDG 8 by promoting sustainable economic growth and decent employment opportunities. Actuaries trained by AADA can apply their skills in various sectors, including insurance, finance, and public policy, where their expertise contributes to financial resilience, risk management, and data-driven decision-making.
SDG 9: Industry, Innovation, and Infrastructure
Through its focus on actuarial science and analytics, AADA fosters innovation and infrastructure development in Africa. Actuaries trained by AADA contribute to the development of robust financial systems, which are essential for sustainable economic growth and infrastructure investments in sectors such as healthcare, pensions, and climate resilience. Their skills will be highly valued in teams driving innovation that need to analyse data to make decisions.
SDG 10: Reduced Inequalities
AADA promotes inclusivity and diversity in its programs, welcoming aspiring actuaries from diverse backgrounds across Africa. By providing equal access to high-quality education and professional development opportunities, AADA helps reduce inequalities within the actuarial profession and broader society. These actuaries are also key contributors in companies that provide inclusive insurance opportunities to the population at large as data analytics is essential for these companies to succeed.
SDG 17: Partnerships for the Goals
AADA collaborates with various stakeholders, including local actuarial associations, educational institutions, and international organisations, to enhance its impact and effectiveness. These partnerships strengthen AADA’s capacity to achieve its mission and contribute collectively to sustainable development goals in Africa.
Through its initiatives and partnerships, AADA will continue to make significant strides towards sustainable development across the continent.