BANKSETA AR 31 AUGUST

CHIEF EXECUTIVE OFFICER’S REPORT

Acknowledgement and appreciation I extendmy thanks for continued support and guidance during the year under review to the Department of Higher Education and Training, the National Treasury and the Auditor-General of South Africa. The support we receive from the Board Chairperson and members of the Board is greatly appreciated and I thank them for devoting their time to the business of the BANKSETA. Various stakeholders play a key role in enabling the BANKSETA to continue being a well-oiled machine through the feedback received year-on-year through the Stakeholder Satisfaction Survey, information forums, robust engagement and commitment to working hand-in-hand with the BANKSETA; the value they add cannot be overlooked. Our heartfelt appreciation is extended to all BANKSETA stakeholders. Finally, my recognition and appreciation to the BANKSETA staff who work tirelessly to meet organisational goals and targets. Their commitment and dedication to roll out programmes within required timelines is exemplary.

These relate to the following

• Various performance indicators that were not consistent with the planned indicators • Inadequate processes to ensure consistent measurement and reporting of performance against the predetermined indicator definitions involving the Maths and Science indicator. The BANKSETA will be putting adequate controls and measures to ensure issues are not repeated in the next financial year. Future Outlook In the short term, the BANKSETA will continue the momentum to improve its performance. The organisation’s longer-term goals are focused on addressing the biased distribution of skills programmes between urban and non-urban or rural areas, so that empowerment benefits are brought to a wider geographic distribution. BANKSETA is undertaking a study to determine the appropriate model that will allow us to redistribute grant funding more equitably to provinces taking into account socio-economic challenges such as poverty and unemployment. BANKSETA will continue to explore partnerships with other entities of government to maximise delivery of projects. Our current partnerships with the HWSETA and TETA, as well as SALGA are set to continue into the foreseeable future. We are looking at further partnerships at District Municipality level to realise and support the government’s District Development Model. The BANKSETA’s financial statements were prepared on a going concern basis. While the economy still shows signs of weakness arising from the Covid pandemic, our assessment indicates the banking sector continues to be resilient. Although there were retrenchments in the sector, the higher-than-average earnings of personnel who retained employment meant that a steady flow of income from levies to the BANKSETA was maintained and we believe this will continue into the foreseeable future. Economic Viability

Mr Eubert Mashabane Chief Executive Officer

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