BANKSETA ANNUAL REPORT 2023

PERFORMANCE INFORMATION

SME/CFI funding window

The challenges identified during the year are:

• The need to spend more time with stakeholders to obtain their buy-in as the programme is significantly different from a previous programme implemented; and • Withdrawal of beneficiaries as they viewed the programme incorrectly. These challenges are mitigated by increased engagement with stakeholders to discuss issues, risks and any challenges they might experience. In respect of allocated expenditure, increased funding allows more beneficiary participation in the programme. Key outputs are that stakeholders obtain skilled employees who pursue IT related courses to develop themselves and increase their career trajectory in IT related fields within the organisation. Successes during the year are that, compared to the previous year’s funding window, the evaluation process has been shortened significantly. The process has been streamlined to ensure a quicker response to stakeholders. Challenges are experienced with the non-completion by beneficiaries which impacts on the BANKSETA targets with DHET. This falls outside of the control of BANKSETA. As a result, BANKSETA underspends on last tranche payments on the project as funds are written back to the pool of funds because of non completion or underutilisation. This is mitigated by increased engagement with stakeholders to discuss issues, risks and any challenges they might experience. Increased funding allows more beneficiary participation in the programme. BANKSETA engages with employers to encourage beneficiaries to complete their studies on time. IT funding window

Key outputs are the support for skills development relevant to their individual needs. This project is the most significant of the alternative banking department as it supports registered BANKSETA SMEs and CFIs with skills they need to develop the sectors. With the significant growth in the numbers of SMEs who submit a WSP, this target will grow as it aligns directly to the WSP submission growth patterns. No challenges were experienced, and the programme is well received by stakeholders. There was an increase in WSP submissions for small employers which by implication means that more employers needed support. Additional funding to reach all small employers is provided for in the current financial year. The project contributes to the BANKSETA’s institutional outcomes by linking education to work and addressing scarce and critical skills. The funding was sufficient to accommodate the funding needs of all successful applicants. Key output is skilled employees for stakeholders who pursue online short courses in various fields to develop themselves and increase their career trajectory in the organisation. Successes during the year include that the evaluation process has been shortened significantly compared to the previous year’s funding window. The process has been streamlined to ensure a quicker response to stakeholders. Challenges include the non-completion of courses by beneficiaries that impacts on the BANKSETA targets with DHET. This falls outside of the control of BANKSETA. As a result, BANKSETA underspends on last tranche payments on the project as funds are written back to the pool of funds because of non completion or underutilisation. To mitigate challenges, increased engagement with stakeholders has been held to discuss issues, risks and any challenges they might experience. Online short courses funding window

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PART B: PERFORMANCE INFORMATION | BANKSETA ANNUAL REPORT 2022/23