SAICA Requirements

Whether you want to be a business leader, a key financial decision maker or even an entrepreneur, there’s one career path that can get you there: chartered accountancy.

If you dream of becoming a chartered accountant (CA(SA), here is all the information you need:

  • The chartered accountancy profession
  • What it takes to study towards the CA(SA) designation including details on the five the steps you need to take to qualify as a CA(SA), and Information about SAICA’s very own bursary fund – the Thuthuka Bursary – and how to apply if you qualify

Become a difference maker

What kind of tomorrow do you want to shape?

A connected world, working together to prosper and thrive?

Well, if you want an exciting career where you can contribute to something bigger than yourself, becoming a chartered accountant (CA(SA)) puts you in a position to make a real difference, giving you the skills and perspectives to build the tomorrow you want.

Compelling reasons to consider CA(SA) as YOUR career path

The CA(SA) designation is your passport to:

  • Changing the world – As difference makers, CAs(SA) have the skills, knowledge and insight to drive business decisions that help create better societies, economies and communities – for a more prosperous future for us all
  • Being the head and heart of a business – CAs(SA) are not only able to run companies (74% of the JSE’s Top 200 company chief financial officers (CFOs) and almost a third of the Johannesburg Stock Exchange’s top 40 CEOs are CAs(SA) they are able to start their own companies and be their own boss too. And that means you can make your passion a reality
  • A highly promising and varied career – As a CA(SA) you can work in just about any industry of choice – in all fields of business and finance and, more specifically, in auditing/assurance, tax, financial management, information technology, management accounting, forensic accounting and insolvency, as well as academia, public and private sector, NGOs and more
  • An internationally recognised career
  • Improving your chances of being head-hunted by top employers throughout your career
  • CAs(SA) hold prestigious positions in the private and public sectors and in academia
  • Contributing to making South Africa a better place through giving back in a number of different ways

How do you become a CA(SA)?

The minimum requirements for university admission to a CA-stream BCom degree are a Level 5 pass in Mathematics, together with a National Senior Certificate with matriculation exemption. You need to take pure Mathematics (not Mathematical Literacy) as a subject and you need to pass it well. That means achieving 60% or more.

You also need a good grounding in English, as it will help you to understand the concepts you will study.

Many learners believe that having Accounting as a school subject is compulsory to study towards your CA(SA). While it can help you in your studies towards your degree, it isn’t necessary.

Now let’s talk universities …

If you want to be a CA(SA), you need to ensure that the university you’re applying to offer a BCom qualification/programme that is accredited by the South African Institute of Chartered Accountants (SAICA).

Once you’ve completed the three-year degree, you’ll need to obtain a Postgraduate Diploma in Accounting (PGDA or honours equivalent). This is a postgraduate course – your fourth year at university – and focuses on Accounting, Auditing, Taxation and Financial Management. It takes a minimum of one year to complete and must be completed at a SAICA-accredited university.

Once you have your BCom, it’s time to get real-world working experience. Following your PDGA, you’ll enter into a three-year training contract with a SAICA-registered training office.

During you training, you must pass two qualifying examinations: the Initial Test of Competence (ITC) and the Assessment of Professional Competence (APC).

If you pass everything first time, the entire qualification process takes about seven years from the time you enter university. Now that may sound like a long time, but it’s worth it.

Where can you make a difference as a qualified a CA(SA)?

The CA(SA) journey equips you with exceptional commercial acumen, professional scepticism, critical thinking and the ethical framework you need to shape your world.

And that means that you don’t just have to do traditional accounting work. Studying to become a CA(SA) opens up a LOT of doors here in SA and internationally including:

  • Auditing: CAs(SA) generally audit financial statements and provide tax or financial planning advice. They also offer consulting and advisory services in a variety of fields such as corporate finance, management accounting, information technology and general financial and business management
  • Business: CAs(SA) can specialise in management accounting, financial management, taxation, corporate governance, internal audit and many other fields. Many lead major companies as chief executive officers, chief financial officers and managing directors
  • Government and the public sector: CAs(SA) hold top-notch positions (like the Auditor-General or Head of National Treasury) and are widely recognised for effective financial management, leadership and providing services to their country
  • Academia: become a lecturer and develop the next generation of CAs(SA) by lecturing at universities and providing training through professional programmes
  • Entrepreneurship: follow the entrepreneurial route and become your own boss!

The bottom line is if you choose well and work smart, you too can be a difference maker because you’re a CA(SA)!

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Student Loans in South Africa: How to Apply and What to Expect

For many young South Africans, accessing higher education is a dream that often comes with a financial challenge. Fortunately, several student loan optionsstrong> are available in South Africa to help fund university, college, or TVET studies. Whether you’re looking for a government loan like NSFAS or a private student loan from a bank, understanding the process is essential for success.

What Are Student Loans?

Student loans are a form of financial aid provided to eligible students to help cover tuition fees, books, accommodation, and other study-related expenses. In South Africa, these loans can come from government institutions like NSFAS or private banks such as Nedbank, Standard Bank, FNB, and Absa. Most loans offer repayment flexibility and low-interest options until you graduate.

Types of Student Loans in South Africa

  • NSFAS (National Student Financial Aid Scheme): A government-funded loan/grant program for students from low-income households. Covers tuition, housing, transport, and meals.
  • Bank Student Loans: Offered by most major banks. These are credit-based and require a guardian or parent as a co-signer.
  • Private Loan Providers: Companies like Fundi offer educational loans covering various costs such as school fees, gadgets, and textbooks.

Requirements to Qualify for a Student Loan

Each provider has its own criteria, but most South African student loans require the following:

  • Proof of South African citizenship or permanent residency
  • Proof of registration or acceptance at a recognised tertiary institution
  • Parent or guardian with a stable income to co-sign (for private loans)
  • Completed application form with supporting documents (ID, proof of income, academic records)

How to Apply for a Student Loan

To apply for a student loan in South Africa, follow these steps:

  1. Identify your loan provider: Choose between NSFAS, a bank, or a private lender.
  2. Gather necessary documents: ID copies, academic transcripts, acceptance letters, and income statements.
  3. Complete the application form online or at a branch.
  4. Await approval: Some banks offer instant decisions, while NSFAS can take a few weeks.
  5. Receive disbursement: Funds are typically paid directly to the institution or your account, depending on the lender.

Loan Amounts and Repayment

The loan amount you can receive depends on your chosen lender and financial need:

  • NSFAS: Covers full tuition, residence, books, and a personal allowance. The loan becomes a bursary if you pass all your courses.
  • Banks: Can provide up to R120,000 or more annually, depending on tuition costs and credit history.

Repayment usually starts after graduation or once you start earning an income. Bank loans may require interest-only payments during your studies. NSFAS repayment only begins when you earn above a specific income threshold.

FAQs on Student Loans in South Africa

1. Can I apply for a student loan without a parent or guardian?

For government loans like NSFAS, yes. But most banks require a financially responsible co-signer, especially for students without an income.

2. Is NSFAS a loan or a bursary?

NSFAS starts as a loan, but it converts to a bursary if you meet academic performance requirements. This means you may not have to pay it back.

3. What is the interest rate on student loans?

Private banks offer competitive rates between 5% and 12%, depending on the applicant's credit profile. NSFAS charges a much lower interest rate, usually linked to inflation.

4. What happens if I fail my courses?

If you’re funded by NSFAS and fail, your loan won’t convert into a bursary, and you’ll need to repay the full amount. Banks may continue charging interest, and your co-signer may be held liable.

5. Can I use a student loan to pay for accommodation and laptops?

Yes. Both NSFAS and many bank student loans cover costs beyond tuition, including housing, meals, textbooks, and electronic devices like laptops or tablets.

Final Thoughts

Student loans in South Africa offer a much-needed financial lifeline to thousands of students every year. Whether you're applying through **NSFAS** or a private bank, ensure you understand the **terms, interest rates, and repayment conditions** before signing any agreement. Make informed decisions today to secure your academic and financial future tomorrow.