By Humairaa Mayet
Edited by Tasmiyah Randeree
Fulufhelani Mashapha, actuarial specialist and blogger, talks to us about her transition from high school to university and her entrance into the world of finance which has proven to be a most enriching experience, one which has helped her grow into the woman she is today.
I look forward to seeing a generation of women who make informed financial decisions, to seeing women who have multiple streams of income and are working together to build empires. I want to see women cement themselves fully into the economy - in terms of owning assets - and paying it forward to help the next girl out there.
Transitions can be incredibly difficult - whether you are going from high school to university or from university into the working world, you are bound to be bombarded by stress while on your way. Luckily, Fulufhelani Mashapha has come up with ideas to help you along so you do not have to do your own research.
24-year-old Mashapha started a YouTube channel focused on assisting those in transitionary periods of their lives, which she believes are the most difficult. She began making videos when the lockdown to curb the coronavirus pandemic was implemented and soon it became a fully-fledged pastime.
Photo: Instagram.
Having graduated from the University of Cape Town with a Bachelor of Business Science in Actuarial Science allowed Mahsapha to enter into the world of finance at an incredibly young age. She has worked as an Actuarial Specialist for almost two years, which has been an extraordinarily enriching and fulfilling experience.
“The degree itself didn't get easier with time but I believe I got better and it was a matter of knowing what to do when the going gets tough: trying again, consulting friends, tutors, and lecturers and adapting to each curveball and taking it as it comes.”
Mashapha was inspired to pursue a degree in the field of finance after achieving stellar matric results - she got 100% for four subjects; Physical Sciences, Life Sciences, Geography, and Life Orientation. Despite having achieved such excellent results in high school, Mashapha came to realise that university was an entirely different ball game.
She failed her first test at university and this was when the impact of the transition really hit her - university was nothing like high school. Mashapha had to teach herself Accounting and Economics for the first time and grapple with difficult, layered subject matter.
Photo: Instagram.
In her videos, Mashapha focuses on simplifying complex and convoluted financial topics. She also shares her own financial experiences and invites others to share theirs, as well as what she wishes she had known before making certain decisions or taking certain steps.
Her main areas of focus are risk, money and insurance. These are day-to-day topics with which almost every South African has to grapple, and each of these can easily become complicated. Mashapha seeks to teach her audience about saving, investing, spending, credit, credit scores and budgeting; as well as funeral cover, life cover, car, house, health insurance and mortgage protection, among other kinds of insurance.
Although Actuarial Sciences is largely dominated by men, mentorship has been helping a lot, especially from women in the same field that I look up to. Walking this journey with them has been amazing. Above anything, I have always believed that girls can do anything or be anything that they want to be, even in a field dominated by men. We need more women in such spaces to show the young girls behind us that there's space for them too.
Mashapha told To EmpowHer that she has thoroughly enjoyed the dynamic and challenging experiences she has had in the world of finance. Her most exciting experience was presenting an overview of the Microinsurance products in South Africa on one of the Actuarial Society of South Africa (ASSA)'s microinsurance seasonal sessions during her first year of work, and her biggest achievement was building a pricing model.
Ultimately, Mashapha seeks to simplify the world of finance for those who find it difficult to understand and to inspire young women who are keen to enter into the field of Actuarial Science and other business sciences and financial fields.
More about Mashapha:
She looks up to her mother and sister, who are her sources of inspiration, as well as Shivani Ranchod, an incredible woman in her field.
She loves reading novels but reads a self-development book every now and then. She also enjoys trying out new food and cooking, which she finds therapeutic.
She wakes up at 3am every morning to study and spends the rest of her day juggling exercise, chores, and work.
Follow and support Mashapha on social media:
Instagram: @fulufhelani_mash
Humairaa Mayet is a student of International Relations and Political Studies at the University of the Witwatersrand. She is incredibly passionate about issues of social justice and strives to make a difference in the world through as many avenues as possible. She spends her days listening to music, cooking and baking, and raising her plants.
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