The African Women Chartered Accountants (AWCA)
Forum celebrates 21 years in 2023, a significant milestone for an organisation that
continues to support women within the Chartered Accountancy profession.
AWCA has played a significant role in propelling the growth in the number of successful
African (Black, Indian, and Coloured) female CAs(SA) from 407 in 2002 to 9650 as at
June 2023. To date, 135 students have been supported through the AWCA Bursary
Fund. Through its partnership with Milpark Education, AWCA expects to grow this
number over the next few years.
One of the key barriers to growth amongst aspiring African female Chartered
Accountants is access to funding. In 2021, NSFAS confirmed that it was experiencing a
funding crisis. This was due to the Covid-19 pandemic disrupting the 2020 academic
year. Higher education institutions were forced to extend the academic year, which in
turn required NSFAS to cater to additional costs such as student accommodation and
other expenses.
Two years later, the funding woes still have not subsided — the demand for financial aid
exceeds the available resources. Furthermore, inadequate infrastructure, limited
resources and socio-economic factors continue to hinder African females from
completing their studies.
In light of the above-mentioned challenges, AWCA has partnered with Milpark
Education, an online private higher education institution that offers the full online path to
becoming a CA (from undergrad (BCom) in Accounting to the SAICA accredited PGDA.
Milpark Education has awarded bursaries to the total value of R400 000 to five AWCA
members. As it is a partnership, the weight is carried by both parties and AWCA will
provide a stipend to the bursary recipients to cover other expenses including textbooks,
connectivity, and accommodation.
To pursue a career as a Chartered Accountant, one needs to complete a BCom
undergraduate and postgraduate degree from a SAICA (South African Institute of
Chartered Accountants) accredited institution. After which, a CTA (Certificate in the
Theory of Accounting) or equivalent thereof needs to be completed. Thereafter, one
enters a three-year training programme with an accredited firm for practical training in
various competencies. This process is commonly known as “articles”. Lastly, one must
write and pass the two SAICA qualifying exams, ITC (Initial Test of Competency) and
APC (Assessment of Professional Competence).
The industry has evolved, creating more diverse and exciting opportunities for African
women wanting to enter the Chartered Accountancy profession. Though rigorous, the
Chartered Accountancy journey bears and multiplies fruit for the women who choose to
pursue this path. According to AWCA President Buhle Hanise, the profession has
evolved into a space where many more opportunities are available for CAs(SA).
“CAs(SA) can now enter the world of private equity, private banking, investment,
entrepreneurship as well as other industries where this exceptional skill set is required.”
Hanise believes that Chartered Accountants want more out of their careers because
they are strategic thinkers, and have a unique skill set that can be used in various
industries.
Much as the profession has evolved, the education landscape has unfortunately not
progressed in line with the developments of the profession and socio-economic
landscape. There has been a rise in online and distance learning, which refers to the
use of digital platforms and technologies to deliver educational programmes and
courses remotely. This trend has been accelerated by advancements in technology,
increased internet accessibility, and the Covid-19 pandemic, which forced many
educational institutions to shift to online learning. This shift highlighted the importance of
digital infrastructure, technology, and digital literacy in education.
“The partnership with Milpark Education will contribute to the transformation of the
profession and significantly advance the number of African female CAs(SA). Becoming
a CA is an enormous undertaking, one that takes time, grit, tenacity, and dedication.
The lecturers and support staff at Milpark Education understand this and have created a
solid foundation that can provide more women with educational and career growth
opportunities,” says Hanise.
The Milpark Education programmes are all fully online, accommodating working
students — many of whom are single mothers — and provide the support that they
need to complete their degree. As an online education provider, Milpark Education
ensures that wherever a student resides they have access to world-class accredited
degrees. They are currently the largest producer in the country of students writing
qualifying exams.
Milpark Education spokesperson and Head of the School of Professional Accounting
Gareth Olivier, says: “We provide support to our students because we want them to be
successful. Our programme realistically fits in with the busy lives of our students.
Becoming a CA is monstrous and cannot be underestimated. The school is run by
CAs(SA), and the lecturers too are CAs(SA), so they understand the demands. Our goal
is to change the education landscape in South Africa, and in so doing produce students
who are both employable and entrepreneurial. Our online offering makes the dream of
becoming a CA(SA) more attainable.”
