Thuthuka Fund

MMS_BL1MMS Group and the Thuthuka Bursary Fund – Together punching above our weight

In line with our driving values: Connect, Understand, Solve, MMS is proud be partakers and contributors to the Thuthuka Bursary Fund. Through our involvement in this SAICA initiative, we assist students from disadvantaged communities in their accounting studies to obtain their CA (SA) qualification and contribute to the economic and social upliftment of South Africa. After completing their studies, Thuthuka allocates students to firms for training contracts.

“Thuthuka” is a Zulu verb, meaning “to develop”. As a group, MMS invests significant resources into the development of our own staff. The Thuthuka Bursary created an opportunity and platform for us to extend this investment and development into our industry and South Africa.

Since its inception in 2002, Thuthuka has grown from one provincially-based project to over 20 projects throughout South Africa, to help struggling students complete their studies and reach their dreams of entering the commerce field.

The growth of Thuthuka has been a result of its ability to identify barriers and to plan and implement programmes that address these barriers effectively. Thuthuka Projects are supported by the Department of Labour’s National Skills Fund, Fasset, the Department of Science and Technology, the Department of Education along with numerous other private partners and SETAs.

 Thuthuka Fund – What is it?

In order to drive the process of creating a sufficient and sustainable base of appropriate and representative skills and to manage and account for the external funding needed to initiate such programmes effectively, SAICA established the Thuthuka Bursary Fund. The Fund is a controlled entity and a trust regulated by its own board.  It is also registered with a Section 18(a) tax exemption and has its own board of trustees.

MMS Group committed itself to the Bursary Fund as of 2017.

 The Purpose of the Thuthuka Bursary Fund

The purpose of the project is to place Black African and Coloured students at selected SAICA-accredited universities on special undergraduate BCom Accounting education programmes. SAICA-accredited universities include:

  • University of Johannesburg
  • University of Cape Town
  • Nelson Mandela Metropolitan University
  • Rhodes University
  • Stellenbosch University
  • University of Pretoria
  • University of the Free State
  • University of Witwatersrand
  • North-West University (Potchefstroom Campus)

Our first Thuthuka Bursary Fund graduate will join MMS Group in 2020.

We will keep you posted regarding our continued involvement in this exciting project, as well as the progress of our first candidate. Watch this space!

For more information on the Thuthuka Bursary Fund, visit the SAICA website here

This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice.  Errors and omissions excepted (E&OE)

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