22 April 2024

SAICA and Standard Bank partner to make a difference in the lives of youth

Johannesburg, 22 April 2024 - In a groundbreaking initiative aimed at empowerment and fostering diversity within the accounting profession, Standard Bank has forged a pioneering partnership with the South African Institute of Accounting (SAICA) to sponsor fourth-year accounting students at three historically disadvantaged universities in 2024. This marks the first collaboration of its kind between a leading financial institution and an esteemed accounting body, with the objective of elevating aspiring accountants who may lack the financial resources to pursue their dreams. This collaboration embodies the belief that success is achieved not only through individual effort but also through collective empowerment and support.

Standard Bank CFO , Client Segments PPB Group. Thembeka Maseko CA(SA) says, “The partnership, spanning over three years, underscores a shared commitment to making a tangible difference in the lives of talented individuals from underrepresented backgrounds. By providing financial support and mentorship opportunities, the initiative aims to enhance the attractiveness of the accounting profession while ensuring that its future practitioners reflect the rich diversity of South Africa.”

This strategic alliance aligns with both institutions broader mission of driving socioeconomic transformation and inclusive growth in the financial sector across South Africa. The bank's mission is deeply rooted in giving back, empowering, and inspiring young people to become difference makers in society. Through targeted investments in education and skills development, the bank remains steadfast in its commitment to empowering individuals and communities to realise their full potential.

By partnering with the top accounting body, the aim is to address key issues in the country effectively. The Thuthuka model, focuses on a holistic student development, by covering all associated higher education costs, such as accommodation, tuition, books, enabling students to concentrate on their studies thereby increase their chances of success. Mentors from SAICA will provide support throughout the academic year, fostering a supportive environment for student growth and achievement.

“We are thrilled and grateful to partner with Standard Bank on this transformative initiative”, remarked Gugu Makhanya: executive for Transformational Projects at SAICA. “Together, we have the opportunity to make a lasting impact on the accounting profession by breaking down barriers and opening doors of opportunity for aspiring accountants from all walks of life”.

The sponsorship program will provide financial assistance to fourth year accounting students, covering tuition fees, study materials, and other essential expenses. Additionally, participants will benefit from mentorship and career guidance from seasoned professionals within the accounting industry, ensuring they are equipped with the skills and support needed to thrive in their future careers.

By empowering one student at a time, the mission aims to create a sustainable difference not only in individual lives but also in the broader context of the country. This alliance with the bank reflects a shared commitment to empowerment, and patriotism within South Africa, reinforcing the collective effort to elevate and make a meaningful impact on society.


The South African Institute of Chartered Accountants (SAICA), South Africa’s pre-eminent accountancy body, is recognised as the world’s leading accounting institute and is home to the leading CA designation in the world The Institute provides a wide range of support services to more than 50 000 members and associates who are chartered accountants (CAs[SA]), as well as associate general accountants (AGAs[SA]) and accounting technicians (ATs[SA]), who hold positions as CEOs, MDs, board directors, business owners, chief financial officers, auditors and leaders in every sphere of commerce and industry, and who play a significant role in the nation’s highly dynamic business sector and economic development. the

Chartered Accountants are highly valued for their versatile skill set and creative lateral thinking, that's why all of the top 100 Global Brands employ Chartered Accountants.

SAICA is a member of Chartered Accountants Worldwide (CAW), a global family that connects over 1,8 million fellow Chartered Accountants and students in more than 190 countries. Together, we support, develop, and promote the role of Chartered Accountants as trusted business leaders, difference-makers, and advisers.

SAICA Media Contacts

Kgauhelo Dioka,
Project Manager: Communications
SAICA Brand Division

Renette Human,
Project Director: Communications
SAICA Brand Division