BANKSETA AR 31 AUGUST

OUR MANDATE

Sector Skills Plan Focus Areas The functions of the BANKSETA under the Skills Development Act as outlined in its Constitution include the following: • Develop aSSPwithin the framework of theNational Skills Development Plan for the BANKSETA; • Implement the SSP by: - approving WSP; - establishing learning programmes; - allocating grants in the prescribed manner to employers, education and training providers and employees; and monitoring education and training in the sector. • Promote workplace-based learning by: - identifying workplaces for practical work experience; - supporting the development of learning materials; - improving the facilitation of learning; and - assisting in the conclusion of learning programme agreements. • Disburse the skills development levies in the banking and alternative banking sector in terms of the Act and the Skills Development Levies Act; • Liaise with the National Skills Authority as well as other SETAs • Report to the Director-General on the implementation of its sector skills plan and its income and expenditure; • Liaise with employment services of the Department of Labour and any educational body established in terms of educational laws of South Africa to improve the quality of information about employment opportunities; and between education and training providers and the labour market. • Appoint office bearers and staff necessary for the performance of its functions; • Facilitate the involvement of the relevant government departments in the activities of the Authority to: - address the competency requirements for social delivery; - address the learning needs of the most vulnerable segments of the sector; - promote training SMEs to enable them to qualify for public contracts. • Perform any other duties imposed by the Act or any other function not specifically mentioned, to fulfil the objectives of the BANKSETA and the Act;

• Notwithstanding the above functions and objectives, the Authority must at all times give effect to the purposes of the Act, being: - to develop the skills of the South African workforce; - to increase the levels of investment in education and training in the labour market and to improve the return on that investment; - to encourage employers: • To use the workplace as an active learning environment; • To provide employees with opportunities to acquire new skills; • To provide opportunities for new entrants to the labour market to gain work experience; • To improve the prospects of persons previously disadvantaged by discrimination and to redress those advantages through training and education; to ensure the quality of education and training in and for the workplace; • To provide and regulate employment services; • To provide opportunities for new entrants to the labour market to gain work experience; and to encourage workers to participate in learning programmes and other training programmes; • To assist: - work-seekers to find work; - retrenched workers to re-enter the labour market; - employers to find qualified employees. • To forge links with stakeholders and bodies in the banking sector; • Account for the effective and efficient use of public monies received from levies collected from employers, in line with the provisions of the Public Finance Management Act; and • Report to the Minister through the Director General of the Department on matters related to the BANKSETA.

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