The Thuthuka Education Upliftment Fund (TEUF) is a wholly owned organisation established by SAICA in 2002 in order to consolidate, strategise and drive the growth and transformation efforts of the profession. The transformation process can only be achieved through the consolidated efforts of all stakeholders: from firms to higher education institutes to the students themselves and to SAICA. Large-scale skills development initiatives are required to tackle the challenges at all levels of training.
TEUF was established to properly manage and account for the external funding needed to initiate such large-scale skills development programmes. In 2005 the company was granted public benefit organisation status with section 18(A) tax exemption. A separate board of directors was appointed to oversee the governance of the donated funds and the running of the organisation.
‘Thuthuka’ is a Zulu verb meaning ‘to develop’ and denotes the action-based perspective with which transformation is being driven.
Since its inception in 2002, Thuthuka has grown from one provincially based project to more than 16 projects (counting the nine DST/Thuthuka maths and science development camps as separate projects) throughout South Africa. The number of potential candidates reached is significant and the results of the programmes give an indication of their impact. Success has been achieved through identifying the salient barriers and devising and implementing programmes to address these obstacles effectively. While growth in the number of projects is imperative, increasing impact, achieving sustainable funding and expanding nationwide remain critical objectives of the Thuthuka Education Upliftment Fund.