BANKSETA AR 31 AUGUST

CHAIRPERSON’S FOREWORD

In addition, the Risk Management Committee (RMC) which also reports directly to the ARC continued its operation. The committee is assisted by the work performed by BANKSETA’s Risk and Compliance Officer, whose appointment has significantly improved the monitoring of risk within the organisation, an issue that has been on the Accounting Authority’s consideration over the preceding years. As at year end, there were two vacancies in the Accounting Authority, both representing the employer constituencies. The process of filling these vacancies by the Minister of Higher Education Science and Innovation, the Honourable Dr Emmanuel “Blade” Nzimande, is at an advanced stage. Strategic Relationships As part of our broad mandate to benefit not only the banking and alternative banking sector, but also other sectors in the country, the BANKSETA focused on sustaining and improving relationships with various partners and stakeholders at a multi-sectoral level. It gives me great pleasure to report that our Stakeholder Satisfaction Survey returned a score of 4.4 out of 5, as against a target of 3 out of 5. This is an improvement on the 2020/21 audited result (4.18), and indicates improvement in some areas of stakeholder satisfaction perception or experience of the of BANKSETA service provision and programme offerings and internal operating environment. The BANKSETA’s focus on strategic partnerships and collaborations has led to the signing of several memoranda of understanding (MoUs) with national and local government entities, while strengthening the working relations with the South African Local Government Association (SALGA) and other SETAs. Beneficiaries BANKSETA’s partnerships with other SETAs have improvedour geographical spread in the rural andnon metropolitan areas. Bridging the gap between urban and rural, thereby creating meaningful opportunities for beneficiaries outside the main metropolitan areas, remains one of the SETA’s most important strategic priorities. These collaborations have increased organisational presence and accessibility, while creating opportunities for the empowerment of beneficiaries living outside metropolitan areas. The youth, women and Persons with Disabilities (PwDs) in particular, have and will continue to receive a special focus.

We have responded positively to the President’s request to play an active role in supporting government’s Economic Reconstruction and Recovery Plan (ERRP). The President has made a plea that SETAs commit to placing at least 10 000 unemployed Technical Vocational Education and Training (TVET) college graduates in workplaces from April 2022. BANKSETA is committed to play a role in this respect in line with our belief that skills development is not solely the preserve of the SETAs but is a collaborative effort involving both academia, private role-players and practical elements of Work Based Learning (WBL). We are thus committed to increasing both the input and throughput of TVET colleges, as part of our strategic focus. A further aspect that has improved our geographic spread is that of the hybrid learning model, in which online learning is combined with workplace experience. This model reflects a constantly changing working environment. BANKSETA is committed to ensuring that its programmes and initiatives have meaningful impact on the ground. The Accounting Authority recognises the importance of continuously tracking and tracing beneficiaries to evaluate the qualitative impact of programme interventions. The Accounting Authority will continue to encourage management to provide valuable programme impact information about past beneficiaries that has been gathered over the years by the Strategy and Research team. This information will continue to be monitored, evaluated, and presented to stakeholders. The Accounting Authority and BANKSETA staff would derive great pleasure in the realisation of how the transfer of skills has translated into employability and entrepreneurship In conclusion, we reaffirm our commitment to achieving the vision of the BANKSETA, which remains embedded on the requirements of the National Development Plan (NDP) and the goals of the National Skills Development Plan (NSDP) to fundamentally transform education and training in South Africa by improving the quality and quantity of training interventions. This will ultimately support economic growth and improve the quality of life for all in South Africa. These intentions are translated into the BANKSETA’s Annual Performance Plan for beneficiaries. Way Forward

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PART A: GENERAL INFORMATION | BANKSETA ANNUAL REPORT 2021/22