BANKSETA AR 31 AUGUST

PERFORMANCE INFORMATION

Future plans are to successfully implement existing programmes and meet targets, as well as open up new funding windows. The department aims to increase funding for certain projects, such as the IT skills funding window, PIVOTAL grant funding window and doctoral and post-doctoral funding window.

The Skills Development Department prides itself on changing the lives of people in the banking and alternative banking sector, especially those who do not have the means to fund their own learning.

PhD Funding Beneficiary

Helping To make The Sector More Competitive With Ground-breaking Research BANKSETA’s research portfolio aims to provide insightful leadership research that contributes to the competitiveness of the banking sector in South Africa. Dr Kuhle Zwakala completed his doctoral thesis with financial assistance from the BANKSETA. His thesis, titled “Brand identity-image congruence framework for business-to-business banks within SouthAfrica”, has provided a unique framework for banks to build coherent brand identities. Dr Zwakala hopes that his research findings and recommendations are applied in the banking sector, as the research will have a positive impact on the competitiveness of banks. The study investigated whether brand identity is congruent with brand image in South African bank brands and found that brand identity in the sector is largely not in line with brand image. Dr Zwakala emphasised that to the best of his knowledge, the research study is the first of its kind, and therefore makes a unique contribution to the body of literature on strategic brand identity management that can guide academic investigations into the topic as well as practitioners’ application. In explaining how he was encouraged to conduct this research, he states that as he is a lecturer at the Cape Peninsula University of Technology, his studies found a gap between marketing theory and practice. Marketing executives in the banking sector too often make decisions that are not informed by theory, he says.

Dr Kuhle Zwakala

The research established that there is a disjunct between the marketing and culture of one of South Africa’s big four banks and the bank’s employees who do not resonate with its brand identity. This finding was based on an analysis between what the bank communicates about itself, and what the employees’ perceptions about the bank are, especially those in more junior levels. As a marketing theorist, he emphasises that banks need to align themselves internally so that they can communicate a consistent message. If there is internal buy-in with the messages, employees will believe what the bank says in its marketing. Misalignment means a diluted message, he adds. This research will give banks a scientific model through which to make correct strategic decisions. He is concerned if banks are making strategic marketing decisions based on research done scientifically. Dr Zwakala was informed about the BANKSETA during his engagement with a colleague who was interacting with one of the other SETAs. At the time, he says, his research was in its infancy.

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PART B: PERFORMANCE INFORMATION | BANKSETA ANNUAL REPORT 2021/22