BANKSETA ANNUAL REPORT 2023

BANKSETA GOVERNANCE STRUCTURE

(c) Integrity and honesty in the management of finances and resources, which require observing and promoting high standards of ethical conduct, proper execution of fiduciary duties, independence from vested interests and avoiding undue influence and conflicts of interest. (d) Transparency and openness, which require fair, transparent and accessible rules, processes and procedures; the consistent application of these rules, processes and procedures; transparent and motivated decision-making; and timely and accurate provision of information to a higher authority, stakeholders and the public. (e) Participation in the development and implementation of public policies, where appropriate, which require the active involvement of beneficiaries, stakeholders and other affected groups in the formulation of policies and programmes; promoting ownership of policies and programmes; stakeholder commitment to their success; and consultation with, and representation on, institutional structures. (f) The capacity and resources to execute their mandate, which require appropriate selection and capacity-building to ensure that members and staff have the necessary skills, knowledge and experience. Contravention of the Code of Conduct is treated as prescribed in the BANKSETA Constitution. Any contraventions of the Code by a member should be reported to the Chairperson, who must ensure that the matter is investigated. Any contravention of the Code by the Chairperson should be reported to the Minister. A contravention of the Code may result in disciplinary action being taken, which could result in a member being removed from office. No breaches of the Code were recorded during 2022/23. BANKSETA recognises its accountability to all stakeholders under the legal and regulatory requirements applicable to its business and is committed to high standards of integrity and fair dealing in the conduct of its business. It is committed to complying with both the spirit and the letter of requirements and to always acting with due skill, care and diligence. BANKSETA’s efforts in meeting its primary strategic objectives will create a transformed,

skilled and capable workforce to address sector strategic objectives and national strategic objectives and skills development legislation (Standard Constitution of SETA Regulations and Skills Development Act).

Health, Safety and Environmental Issues

The level of awareness of OHS and reporting has been one of many main focus areas in the BANKSETA since the lockdown period in 2020 and 2021. The BANKSETA has been fortunate to avoid any work related injuries during the past four years and diseases, mainly related to the respiratory category (COVID-19 and the likes), have been treated with the utmost care and given the attention they deserve. The hybrid working model in the BANKSETA has greatly contributed to curbing the spread of contagious diseases in the organisation and has allowed employees to fully recover before reporting to the office environment. Data collection and reporting on work-related injuries and diseases have been harmonised within the different departments via the OHS Committee and there is a uniform way of recording and reporting injuries and disease statistics. Enforcement of legislation has been complied with by the organisation with a minor limitation with regard to human resources capacity. Suggestions would include that the process of reviewing legislation should be fast tracked, and that South African Public Entities should support OHS systems and provide basic facilities for all workers to promote OHS. The Company Secretary has a key role to play in ensuring that Board procedures are both followed and regularly reviewed. As part of the responsibilities, the Company Secretary provides Board members with guidance as to their duties, responsibilities and assists in the proper induction, orientation, ongoing training, including assessing the specific training needs of Board members in their fiduciary and other governance responsibilities. Governance compliance reports are submitted to the DHET on a quarterly basis and minutes of all Board and Committee meetings are recorded by the Company Secretary, in accordance with required governance prescripts. Company Secretary

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PART C: GOVERNANCE | BANKSETA ANNUAL REPORT 2022/23