BANKSETA AR 31 AUGUST

ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2022

22.

RELATED PARTY TRANSACTIONS (CONTINUED)

22.5 NSFAS The BANKSETA and the NSFAS are entities under the common control of DHET. The BANKSETA funds bursary programmes for the benefit of learners through NSFAS. The year end balances (payable and/or receivables) and outstanding commitments to the NSFAS are shown below. 22.6 Indlela/National Artisan Development The BANKSETA and the Indlela National Artisan Development are entities under the common control of DHET.

The BANKSETA funds training and infrastructure for the benefit of learners through Indlela.

The year end balances (payable and/or receivables) and outstanding commitments to the Indlela are shown below.

22.7 The year end balances (payable and/or receivables) and outstanding commitments. 2021/22 2020/21

Net payable/ receivable at year end

Net payable/ receivable at year end

Commitment value at year end

Commitment value at year end

Nature of transaction

R’000

R’000

R’000

R’000

Type of entity

Indlela National Artisan Development

Strategic Project 2022

- -

- -

11 271 1 918

- -

NSFAS TVETs TVETs

Bursaries Bursaries

-

-

-

-

Work Integrated Programs Skills programs

(2 441)

72 896

(876)

13 627

TVETs

-

-

2 995

-

Universities and Universities of Technology Universities and Universities of Technology Universities and Universities of Technology

Bursaries

(55)

65 297

(2 107)

48 950

Work Integrated Programs

(6 883)

19 078

(660)

1 650

-

Skills programs

-

12 024

-

Universities

Research programs

(130)

-

-

-

Lecturer development programmes

Universities

-

1 309

-

-

Subtotal related parties balances and transaction i.e.. programmes

(9 509)

186 788

(3 643)

64 227

The above transactions occurred within normal client/recipient relationships under terms and conditions that were no more or less favourable than those available to entities in the same circumstances. All transactions are within terms and conditions within the normal operating parameters established by BANKSETA’s legal mandate. All transactions are at arm’s length.

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PART E: FINANCIAL INFORMATION | BANKSETA ANNUAL REPORT 2021/22