BANKSETA ANNUAL REPORT 2023

ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2023

22. RELATED PARTY TRANSACTIONS (continued)

Transactions with entities under common control (excluding QCTO, SAQA and interSETA balances)

2022/23

2021/22

Net (payable)/ receivable at year-end

Net (payable)/ receivable at year-end

Commitment value at year end

Commitment value at year end

Nature of transaction Strategic project 2022

Type of entity

R’000

R’000

R’000

R’000

Indlela National Artisan Development

- - -

16 079

- - -

11 271 1 918

NSFAS TVETS TVETS

Bursaries Bursaries

- -

-

Work integrated learning programmes Skills programmes

(2 016)

68 367

(2 441)

72 896

TVETS

(168)

3 658

-

2 995

Universities and universities of technology Universities and universities of technology Universities and universities of technology

Bursaries

(4 356)

2 951

(55)

65 297

Work integrated learning programmes Skills programmes Research programmes Lecturer development programmes

(1 076)

11 425

(6 883)

19 078

-

2 194

-

12 024

Universities

-

2 439

(130)

-

Universities

-

-

-

1 309

Subtotal related parties balances and transaction for project programmes

(7 616)

107 113

(9 509)

186 788

The above transactions occurred within normal client/recipient relationships under terms and conditions that were no more or less favourable than those available to entities in the same circumstances. All transactions are within terms and conditions within the normal operating parameters established by BANKSETA’s legal mandate. All transactions are at arm’s length.

193

BANKSETA ANNUAL REPORT 2022/23