BANKSETA ANNUAL REPORT 2023

PERFORMANCE INFORMATION Progress Towards Achievement of Institutional Impacts and Outcomes The BANKSETA Strategic Plan for the period 2020 to 2025 has planned for the following ten institutional outcomes over a five-year period.

Outcome Indicator Baseline 1 Strategic Plan 2020/21 -2024/25 Annual Performance

Outcome

Outcome Indicator Evaluation reports that reflect

5-year Target

Progress

1. An efficient and effective SETA that complies with legislation, policy, and good corporate governance principles

Production of BANKSETA strategic and annual plans, quarterly performance reports and annual performance reports

BANKSETA has produced a strategic plan for 2020-2025 which is reviewed annually as well as annual plans, quarterly performance reports and annual performance reports as required For the 2020/21 and the 2021/22 year BANKSETA retained its unqualified audit opinion. In the 2022/23 financial year a misstatement of discretionary grant accruals led to a qualified audit opinion For the past three years of the five year strategy BANKSETA maintained a minimum of 95% pay-out rate of mandatory grants which increased to 98% in the 2022/23 year All research reports and working papers are made available on the BANKSETA website. Skills development interventions are in alignment with research findings

achievement of strategic plans

Plan 2020/21 Annual Report 2020/21

Unqualified audit opinion on financial statements

Clean audit outcome on financial management

100% compliance with legislative frameworks relating to finance and supply chain management Unqualified audit opinion with no material findings Approve employer WSP/ATR submissions to ensure 95% pay-out rate of mandatory grants

and unqualified on non-financial management (AOP)

2. A credible sector skills planning mechanism

Percentage of the pay-out rate of mandatory grants

95% pay-out rate of mandatory grants

that identifies relevant skills priorities to

meet the labour market demands for the banking and alternative banking sector

Number of research reports and working papers put on the knowledge portal

Board approved Research Agenda

Publication of all research reports and working papers made available on the knowledge portal. Skills development interventions are in alignment with research findings

1 The baselines for the outcomes were determined based on the aligned objectives of the 2015-2020 Strategic Plan and the outcomes of the revised Strategic Plan.

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BANKSETA ANNUAL REPORT 2022/23