Fasset Facts December 2011

FACTS

NEWSLETTER

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Seta for Finance, Accounting, Management Consulting and Other Financial Services.

December 2011

Fasset is definitely making the future count

Fasset recently hosted its combined Annual General Meeting (AGM), Thank

The fading morning African star, gave rise to an African sunrise, with

You Function and Best Practice Awards at the Theatre on the Track. Fasset has

Sipho, a mere boy, looking down at his crop furrows. Sipho explained that

acquired an enviable reputation for hosting innovative functions. This year’s

while he had planted many seeds, the ground had yielded very few crops.

event did not disappoint.

This simple statement set up one of the basic accounting principles, cash flow,

Once guests were seated, the lights were dimmed before being blacked

which Sipho had grasped instinctively.

out completely. A roll of African drums heightened the sense of drama. The

Using an abacus as a visual metaphor, Sipho narrated the story. As the

audience was introduced to Sipho, who while dressed for success, soon

sowing yielded more crops, the small subsistence farm was able to support

dispelled any idea that he had always been successful.

more families. continued on pg4

higher education & training Department: Higher Education and Training REPUBLIC OF SOUTH AFRICA

FACTS

EDITOR’S NOTE Marelda Moodley

As I add my “finishing touches” to our fourth quarter newsletter, it is hard to imagine that within a matter of weeks, 2011 will be drawing to a close. Befitting a bumper year, it is apt that we conclude the year with a bumper fourth quarter newsletter. Our CEO’s message is always a must read. I’m sure you will agree that

Information is the currency of the 21st century. Ensure that you keep

increased stakeholder participation in Fasset’s strategic planning, and a

abreast of research in our sector by reading: “Fasset blazes ahead by

common roadmap for where South Africa Inc. is going, augurs well for the

defining and recognising internships,” “An overview of Fasset’s updated SSP

year ahead.

2012-2017,” and “Analysis of Year 10 grant applications.”

We report back on our annual strategic planning session in the article: “Fasset holds its Strategic Planning Session.”

Graduation is always a good reason to celebrate. Three graduations are covered in the articles: “Bonani graduates prove popular;” “Another

For those, who were unable to attend our annual function, our lead story: “Fasset is definitely making the future count,” provides a graphic description of this innovative event, while also chronicling our achievements in Year 11.

Thusanani graduation;” and “Chartered Secretaries Southern Africa celebrates.” Our Seta mandate includes providing learners with career guidance.

Fasset is not only the “bestower” of awards, but was recently the recipient

Fasset recently participated in the Sci-Bono Finance Week Exhibition,

of three awards: we scooped up two awards for Fasset’s Decade of Delivery

the Harold Cressy Expo, and the Nelson Mandela Career Festival in

2010 publication and an award from the University of Stellenbosch for our

Lusikisiki. These events are covered in the articles: “Fasset empowers

financial support of the SciMathUS Programme.

grade 10-12 learners;” “Fasset participates in Harold Cressy Expo;”

We were delighted to hear about a professional body in our sector, Association of Chartered Certified Accountants (ACCA SA), bestowing an award to one of our stakeholders, South African Revenue Services (SARS). These awards are covered in the articles, “Fasset’s Decade of

and “Fasset participates in the 67 minutes for Nelson Mandela Campaign.” Lifelong learning remains a flagship event. “Diarise Fasset’s lifelong learning events,” will enable you to plan ahead for 2012.

Delivery 2010 publication scoops two awards;” “SciMathUS recognises its

Our issue would be incomplete without a learner success story. Having

sponsors;” and “ACCA presents SARS with an award at The Association

read the article: “A golden ticket to the finance world,” I am sure you will find

for the Advancement of Black Accountants of Southern Africa (ABASA) gala

the story very heart-warming.

dinner.”

All that remains is for me to wish our readers a very well-earned rest over

Our readers get the opportunity to meet our new COO, Lesego

the holiday period. If you are on the roads, do travel safely.

Lebuso, and three leaders in our sector, Internal Auditors South Africa, CEO, Dr Claudelle von Eck, ABASA’s new President, Andile Khumalo, and Board

Happy Holidays!

member, and full-time PSA representative, Corné Karsten. The articles: “Driven by excellence;” “ABASA inducts its new President;” “Meet Dr Claudelle von Eck;” and Meet Corné Karsten,” are compelling reading.

INSIDE P1, 4 Fasset is definately making the future count P2 Editor’s note P3 From the CEO’s desk P4 Fasset is definately making the future count (continues) P5 Driven by excellence, meet Fasset’s COO (Lesego Lebuso) P6 ABASA inducts its new president P6 The companies act seminars prove popular P7 Fasset’s decade of delivery 2010 publication scoops two awards

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P8 Fasset holds its annual Strategic Planning Session P8 ACCA presents SARS with an award at ABASA gala dinner P9 Bonani “graduates” prove popular P9 Farewell to Farhana Bhamjee, Fasset’s Senior Skills Planning Officer P9 Phakamani learners placed P10 Meet Corné Karsten, SARS


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FROM THE CEO’S DESK Cheryl James

The past few months have been an exciting time for Fasset. We have seen the very successful conclusion of NSDS II, which culminated once again in a clean audit report from the Auditor General for year 11, both from a financial perspective as well as a performance-information perspective. The strength of the Setas moving toward performance being measured, as well as financial compliance, shows that we are achieving our Seta mandate. NSDS II culminated in presenting our annual report to our members

We are seeing commitment and buy-in from stakeholders at

at our AGM in September. Our annual report was tabled in

all levels. With these changes we are seeing that the vehicles

Parliament, by Minister of Higher Education and Training, Blade

are being put in place for Setas to be able to support the

Nzimande, on 30th September 2011.

developmental state and to heed the Minster’s call of making

It has also been an exciting time because we have been

every workplace a training space.

planning for NSDS III. Our planning supports what is coming out

As the year draws to a close, I would like to take this

of the Department of Higher Education and Training, our Board,

opportunity to thank my Board, the Fasset sector, together with

our stakeholders, as well as the importance of integrating skills

Fasset staff, for their ongoing support throughout the year. This

development initiatives into the broader policy imperatives of

has ensured Fasset’s ongoing success. For those who are enjoying

our country. We are definitely seeing the links coming into the

a well-earned year end break, may you return in the new year,

medium-term strategic framework, and into the Human Resource

feeling truly rested.

Development Strategy. The way forward, requires that we have a common roadmap for where South Africa Inc. is going. This is already coming through in the work that Fasset is doing. We are seeing a change in focus when Fasset is planning for any initiatives that we want to put in place. This is evident in the fact that there is now increased stakeholder participation in Fasset’s strategic planning. The sector approved our Sector Skills Plan (SSP), and for the first time ever, with the change in our Constitution, our Strategic Plan for 2012-2013 at our AGM.

P10 Fasset stakeholders get to grips with labour law P11 Meet Dr Claudelle von Eck, IIA SA P12 Fasset participates in the Harold Cressy Expo P13 A golden ticket to the finance world P14 Fasset participates in the 67 minutes for the Nelson Mandela Campaign P14, 15 Scoping meetings held for tax and financial markets

P15 Diarise Fasset’s lifelong learning events P16, 17 Fasset blazes ahead by defining and recognising internships P18 SciMathUs recognises its sponsors P18 Thusanani graduation P19 Fasset empowers grade 10-12 learners P20 An overview of Fasset’s updated SSP 2012-2017

qualifications


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FACTS continued from Cover

Forty learners including forty choir members filled the stage. The

Over the past eleven years, funding has been approved for 15 233

children lifted the abacus, and turned it so that it faced the audience. The

beneficiaries; 11 442 individuals have already benefited from these

majority of beads were on the right hand side: the farm was now clearly

projects.

making a profit.

Lifelong learning remains a flagship initiative. “This training, which

There was another blackout. When the lights were turned up, it was time for the formal proceedings to commence.

is offered at no cost whatsoever to the employer, would otherwise be unaffordable for many of Fasset’s SMME stakeholders,” Tsakani

Fasset’s Chairman, Tsakani Matshazi extended a very warm

reminded. During the year under review, six events were held and 11

welcome to invited guests. Tsakani confirmed that Fasset’s eleventh year

863 delegates attended these interventions. Collectively, over the past

of operation had been another very good year.

eleven years, 67 841 delegates have participated in these interventions.

“Fasset’s Board, Management Team, staff and stakeholders have an

Fasset has established an impeccable track record for disbursing

unrivalled passion for making a difference. This has enabled Fasset to

funds: “All unclaimed funds, amounting to R55 034 000 for the period

establish an outstanding track record for delivery,” she explained.

under review, have been allocated to strategic projects identified by

Fasset has always positioned itself among the leaders in corporate governance within the public sector. The Seta was justifiably proud of its unqualified audit report, for the eleventh year in succession.

Fasset’s Board.” Having built best practice over the past eleven years, and having established a strong track record for delivery during this period, Tsakani

During the year under review an additional 3 982 learners were signed onto Fasset learnerships, bringing the total number of learners on Fasset learnerships to 44 385.

concluded by saying that Fasset was very well-positioned to deliver against NSDS III. Once the formal proceedings were over, including the presentation

“Over the past eleven years, more than 177 952 individuals

of the Annual Financial Statements, and the approval of Fasset’s SSP and

have benefitted from Fasset-funded skills upliftment initiatives. Placed in

Strategic Plan, the lights were dimmed. Guests sat in great anticipation

perspective, learners on Fasset learnerships account for roughly 24,9%

waiting for Act Two, to unfold. Recorded voices were heard in the

of the beneficiaries of Fasset skills upliftment initiatives,” Tsakani informed.

background calling out simple principles of accounting in basic language,

Huge strides have been made to attract unemployed learners into the

while the professional accounting terms and formulae appeared on the

sector: “It is very gratifying to see that of the 3 982 learners, who were

screen.

signed onto learnerships during the year under review, 3 220 learners

As the lights were turned up, the audience saw an ever increasing

(80,8%) were drawn from the ranks of the previously unemployed, and

number of people, working on the abacus. Sipho moved one bead,

762 learners (19,2% were previously employed). This achievement augurs

solving an accounting problem.

well for the future.”

A recorded voice-over then outlined Fasset’s vision of “making the

Inroads were also being made to improve the demographic profile of

future count”. This was followed by a video on Fasset. When the video

African, Coloured and Indian learners on Fasset learnerships. In Year 11,

ended, Sipho asked those around him what Fasset had done for them.

52% of Fasset learners were African, Coloured or Indian.

Learners stepped forward, one-by-one, while recorded sound bites,

As at 31 March 2011, 29 learnerships had been registered. “Fasset

and learner faces flashed on the screen, recounting how Fasset had

has always believed placement into employment is the true measure of

transformed their lives for the better. The entire screen was soon covered

success for any learnership. Fasset is very proud of its consistent 100%

in a collage of learner faces, leaving a very strong visual presentation

placement rate, compared to a Seta average of 60-65%,” she explained.

of how Fasset continues to make the future count for thousands of young

Unclaimed grant monies are used to fund strategic projects, including

South Africans.

Development Projects. These continue to play an important role in opening

All that remained to be done was to present Fasset’s Best Practice

up access into the sector, and improving the sector’s demographic profile.

Awards. Ernst & Young received the Best Practice Awards in the category:

Beneficiaries are in line with NSDS targets of 85% Black, 54% Women

Large Employer. KPMG received a Special Mention. Silica Financial

and 4% people with disabilities.

Solutions was declared the winner in the category: Medium Employer.

“Fasset continues to support fewer projects with larger amounts

Guarantee Trust received a Special Mention.

of money, concentrating on projects that provide maximum return on

Just when everyone thought the theatrical component was over, the

investment. In the year under review, less discretionary funding was

stage was again filled with drummers, learners, and the choir. What

available than in the previous years. R31,5 million in funding was

better way to provide a rousing finale, than to project the word “Fasset,”

allocated, compared to R34,6 million in the previous year, bringing the

in very large letters across the screen.

total allocation since inception, to R350 million, including NSF-funding for the Bonani and Thuthuka extensions,” Tsakani revealed.

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Driven by excellence “Excellence

Lesego Lebuso

drives

humble beginnings; grew up under very trying circumstances,

me. It is what makes

but went on to become a formidable businesswoman. She

me get up in the

believed that with hard work, passion and commitment, one can

morning. It pushes me

achieve anything. She always told me nothing beats commitment,

to do better, to reflect,

resoluteness and being resilient. These are some of the attributes

to see what else I can

that I have picked up from her.”

learn, and what else

Lesego became a mother a year ago. She has found

I can improve. It is

motherhood a very enriching experience: “This has added an

what inspires me to

interesting dimension to my outlook on life; being able to witness

excel in my chosen

this life unfolding before my eyes is a precious gift. I have been

field, both personally

very fortunate in that I was there for all of her important milestones:

and

professionally,”

when she first crawled, cut her first tooth, and attempted to walk.

says Fasset COO,

It is such a joy being able to witness all of this and to see her

Lesego Lebuso.

coming into her own. Being the adult, I expected to teach her so

Lesego Fasset

in

joined

much but really, it is she who teaches me a lot”.

August

An avid reader, Lesego always encourages others to read: “I

2011. Soweto born and bred, Lesego completed her primary

learnt how to spell through the written word, and I also developed

schooling in Soweto, but matriculated from St Teresa’s Convent in

a love for the spoken word from reading. I consider myself a bit

Rosebank. Studying part-time, Lesego completed a BA Honours

of a wordsmith. It is from reading that I was able to travel, visit

degree in Communication, a Higher Diploma in Business

foreign lands, and discover other cultures, people and lands. By

Management (cum laude) and a Masters Degree in Business

the time I was able to physically travel, reading had enriched my

Leadership (MBL). A logical, pragmatic, strategic thinker, and

experience and broadened my world view.”

someone who is very achievement-orientated, Lesego has over

She enjoys reading biographies, books about different

fifteen years’ experience in the private and public sector at senior

cultures, foreign countries and business books, but has recently

management level.

started reading fiction. “Nervous Conditions,” by Zimbabwean

Her career commenced at Sasol. This was followed by

author, Tsitsi Dangaremba, is one of her favourite books: “I came

stints at the CSIR, Johannesburg Water, and FNB. Lesego’s

across this book while in high school. The book made an indelible

work

and

impression on me. It is beautifully written. It inspired an interest in

community relations, institutional and social development,

writing as well. I am a closet-writer. My friends keep pushing me

integrated

to write. If anything needs to be edited, or you need to come up

experience

includes

stakeholder

corporate

engagement,

communications issues

management,

infrastructure upgrade and revenue management, sustainability, social investment, and managing a consumer financial literacy programme.

with a lovely phrase, I am the person to turn to.” Lesego also enjoys travelling and has visited France, Spain, Morocco, Thailand and Italy, amongst others. Travel has made

“Everything that I have done in the past has been a very good

her appreciate her own country even more. She has made a

training ground and has prepared me well for my position at Fasset.

conscious decision to get to know her own country and continent

My new role is a consolidation of my previous experience and

even better.

my passion for development,” she explains. Lesego describes her

“At the end of the day, I am very down to earth. I have a close

leadership style as “very open and participative”. “My approach

circle of friends and family, who I absolutely adore. They are the

to work is one of partnership. I may be in the COO position, but I

ones, who keep me grounded and also serve as inspiration for

see myself working in partnership with my colleagues and Fasset

me,” Lesego concludes.

stakeholders, to drive Fasset’s vision and mission,” she recounts. She cites her grandmother, who passed away recently, as her role model: “My grandmother was self-taught. She came from


5

FACTS ABASA inducts its new President ABASA (The Association

is look at the shoes I have to step into. Four of the past presidents

for the Advancement of

now lead international firms both in South Africa and the continent

Black Accountants of

at large, one spearheaded the formation and establishment of

Southern Africa) recently

the regulator and custodian of the country’s financial services

held

National

industry, another went on to lead the country’s largest unified

at

its

Convention

the

business organisation, another went on to advise the President

International Convention

of the country on the country’s Black Economic Empowerment

Centre in Cape Town.

policies, and to top it all, another went on to run one of the

The conference was

largest banks in the country.”

themed: “South Africa: thought

Andile Khumalo

leader

The progress ABASA has made in terms of transforming the

and

accounting profession was unquestionable: “However, there is still

growth catalyst for the

a lot of work to be done, and because there is so much work to be

continent.”

done, one must prioritise”.

While an estimated

Andile’s priorities include looking at bottlenecks, with the

300 delegates attended

objective of increasing the number of Black CAs in South Africa;

the conference, including

improving CTA pass rates; being a lot more visible to members;

CFOs, Financial Managers, Financial Accountants, Partners, Senior

mobilising branches to be as inclusive as possible; and promoting

Managers and Trainee Accountants from accounting firms, state

black business unity.

enterprises and government departments, around 700 guests

A Chartered Accountant (CA (SA)), and graduate of the

attended the gala dinner, including ABASA past presidents, Futhi

University of KwaZulu-Natal, Andile is the CFO of MSG Afrika

Mtoba, Victor Sekese and Tsakani Matshazi.

Investment Holdings, and Chairman of MetropolitanRepublic.

Incoming President, Andile Khumalo’s speech was very well received: “Members of ABASA, I am nervous because I am fully aware of the honour that you have bestowed upon me by asking

Andile “is addicted to football, music and success.” Fasset would like to congratulate Andile on his appointment. We look forward to building even closer ties with ABASA.

me to lead this very ambitious organisation. All one needs to do

The Companies Act seminars prove popular The new Companies Act only came into effect on 1 May 2011. Recognising that there may be many areas where Fasset stakeholders may require clarity, Fasset hosted half-day Companies Act seminars in all nine provinces, in October and November 2011. The workshops were facilitated by Itukisa (Pty) Ltd. The seminars covered the following topics: categories of companies; company formation; company governance and communication with stakeholders; the changing legal landscape for directors; the future for company finance (audit, review and compilation); and the new business rescue procedure. The high demand for the event meant Fasset hosting addition venues. Having attended these seminars, candidates now have a far better understanding of the Act. Course material may be downloaded via the Fasset website.

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Fasset’s Decade of Delivery 2010 publication scoops two awards

Fasset recently scooped up two awards at the South African

vibrancy and creativity. Corporate colours and typography are

Publications Forum Corporate Communication Competition

cleverly combined with interesting visual elements to create an

2011, for its “Fasset Decade of Delivery,” publication, which was

exciting product.”

launched at Fasset’s AGM in September 2010. The publication

Hearty congratulations to the team, who made this

was recognised for “Excellence in Communication and Writing”

achievement

and “Finalist: Best Once-off Publication”. The publication

Manager, Marelda Moodley, together with the rest of the Fasset

chronicles Fasset’s establishment, milestones, highlights as well

Management Team, Media Consultant, Carol Butcher, and

as humorous moments, during its first ten years of operation.

Designer and publisher, Blackmoon Design and Advertising.

possible:

Marketing

and

Communications

General comments from the judging panel included: “The

Grateful thanks to Board members, staff and service providers,

message is clear and comprehensive- original and user-friendly

who so willingly gave of their time to be part of the process, be

in style. The message is conveyed that the company is serious

interviewed and provide ongoing feedback, which contributed

about their ‘people’ and about the training service that they

to the publication’s success.

deliver. A credible and interesting publication that deserves a ‘smiley face.’” Commenting on the design, the judges said: “The ‘look and feel’ of Fasset’s Decade of Delivery publication is one of


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FACTS

Fasset holds its annual Strategic Planning Session

Having met all of our NSDS I and NSDS II targets, Fasset is now firmlyfocussed on delivering against NSDS III objectives.

The most important change is that, for the 2012/13 financial year, Fasset will continue to focus on the imperative of increasing the number of

Our Board held its annual Strategic Planning Session in August 2011.

skilled people in the sector through the following:

Decisions taken at this session will inform our Strategic/Business Plan for

• The Mandatory Grant

2012/13. Our Board has chartered a steady course, which will enable

• Pivotal Grant

us to continue to deliver against NSDS III.

• Assessor and Moderator Grant

Mandatory Grants will remain: however, all indications are that the

• Lifelong Learning

Workplace Skills Plan/Annual Training Report (WSP/ATR) will be reduced from 50% to 40% from next year, with 10% of the Skills Development Levies being allocated to the Pivotal Grant.

Discretionary funds will be directed towards upskilling as well as fast tracking the transformation agenda by funding only African people and

We will continue to use Discretionary Grants to encourage Best

African Black people with disabilities through the following:

Practice in employers: we will also continue to support employers when

• Learnership Cash Grant

they train learners coming into their sector.

• Strategic Cash Grant

All Fasset grants remain. There is, however, a change with respect to our Strategic Cash Grant (SCG). For the first time ever, these learners

• SMME Grant • Development Projects

will now be included in Fasset’s targets. So, even though Fasset is funding the employer, we will count the learners, who we are supporting in the targets, which we set.

Fasset will continue to focus on the key components of the Sector Skills Plan (SSP), for example, on the delivery of learners on learnerships, on the

Development Projects remain the primary vehicle for assisting unemployed learners to acquire work readiness skills.

participation of the SMMEs within our sector, on continued promotion of the skills development strategy and the delivery of effective projects that

Lifelong learning remains a flagship initiative. These events enable

impact on the skills needs of our sector. A continued focus on tracking

Fasset to maintain Best Practice standards of people, who are already in

the impact of skills development interventions in the sector will also be

the sector, including SMMEs. They also enable us to have a rural footprint

maintained.

and a rural reach.

ACCA presents SARS with an award at ABASA gala dinner Organisations and individuals, who have contributed to the

we deal with, to also follow the same path, to realise that there is a

transformation of the accounting profession as a whole, were

shortage of accountants in the country. We should challenge them to

recognised at ABASA’s gala dinner.

say that if 5 000 of them can offer to train two accountants per year

ACCA SA Technical and Standards Executive, and Chief Director

we may end up with 50 000 more accountants in five years’ time.

of the Centre for the Independent Review (SACIR), Nicholas van Wyk,

So the award is saying to us, yes, we acknowledge what you have

presented the South African Revenue Services (SARS), with an award,

done, but it is also telling us we need to do more, and not rest and

sponsored by ACCA SA, in recognition of SARS’ commitment to the

think we have enough accountants in the country.”

transformation of the accounting profession within SARS. This is the first year that ACCA SA has conferred such an award.

Hearty congratulations to SARS, for leading by example, and for ACCA SA for recognising employers, who are fast-tracking

SARS Group Executive, Internal Audit: Mmbatho Sukati was delighted to accept the award:

transformation within our sector. Are there any employers out there, who would like to take up

“The award means the work that we have done so far is being acknowledged. It also tells us that we need to train more accountants.

Mmbatho’s challenge? If this happened, the skills revolution in our sector would attain “giddy-heights”.

It also tells us that we need to challenge some of the businesses that

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Bonani “graduates” prove popular The Fasset-funded Bonani 6 Work Readiness Programme,

programme is excellent: 80.5% of learners have already been

delivered by Guarantee Trust Corporate Support Services

placed in employment. If you are interested in placing a Bonani

(GTCSS) is progressing well. The second intake of learners

“graduate,” or would like to know more about the programme,

“graduated” from the programme at the end of November 2011.

kindly contact Robbie Knott at GTCSS on: (tel) 011 466 3312 or

The placement rate for learners from the first intake of the 2011

email: [email protected]

It has been a wonderful four years Fasset was sad to bid Senior

right down to the assistant level has always being impressive. Prior

Skills

Officer,

to joining Fasset, Farhana had a strong PR/Conference management

Farhana Bhamjee, farewell

background. Since joining Fasset she has developed a passion for

at

training and development.

the

Planning end

of

August.

Friendly, organised and a consummate

settled: “Qatar is a growing country. It is very fast, and comparable

Farhana was responsible

to Dubai. There are a lot of large international companies, so I

for initiating and managing

am looking forward to gaining a more international perspective on

Fasset’s

training and skills development and seeing what the rest of the world

lifelong

learning

events and programmes, country-wide.

Farhana Bhanjee

Farhana plans to pursue a career in training once she has

professional,

is doing.” Having visited Qatar previously, she knows what to expect:

“It is sad to be leaving

“There is a very large expatriate community and a lot of South

Fasset, but I am getting

Africans. It is very safe. I am looking forward to that quality of life.

married and leaving the

Qatar is also very central, so travelling to the rest of the world is

country in the next five

convenient. Unlike Saudi Arabia, women are able to work, and they

months to live in Qatar. There is a lot of change and preparation

are also allowed to drive. Qatar is a global melting pot: it is very

ahead. I need to prepare myself and spend some quality time with the

cosmopolitan. It is going to be a new experience both culturally and

family. I have had a wonderful four years at Fasset,” Farhana explains.

socially.”

Working with a dedicated team of women has been a privilege:

Fortunately, with technology, Farhana says she will be able to

“It has been amazing the level of integrity and the way in which things

remain in touch with her friends and colleagues at Fasset. “If anyone

are done, strictly by the book is what makes Fasset so successful and

is passing this part of the world, I hope they will stop in and say

one of the top Setas. I have learnt an incredible amount from people

hello. My family lives in South Africa, so I will be back quite often,”

like Cheryl James and Lauren Derman. The integrity of leadership

Farhana concludes.

Phakamani learners placed Fasset funded 30 learners on the Phakamani Work Readiness Programme. The programme targeted unemployed matriculants and those with incomplete degrees or diplomas. In addition to being given an opportunity to complete a Certificate and an Advanced Certificate from the Association of Accounting Technicians (AAT), learners received work-readiness training. Delivered by Guarantee Trust Corporate Support Services (GTCSS), the programme has been completed. A 73,3% placement rate was achieved. Fasset welcomes Phakamani “graduates” to the world of work, and wishes them every success in their career.


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FACTS

Meet Corné Karsten is

“My responsibility as a full-time shop steward is to serve

one of six organised

as a liaison officer between SARS, the PSA and our members.

labour representatives

I attend regular National Bargaining Forum meetings and National

on

Corné

Karsten

Board.

Consultative Forum meetings. I actively take part in wage negotiations.

Employed by South

I am responsible for twenty-four SARS offices. I assist members in

African Revenue Services

grievance hearings, disciplinary hearings and CCMA-related

(SARS), Corné is a

meetings. I have to ensure that my members and shop stewards get

full-time representative

the necessary training and assistance in order to help them fulfil their

for the Public Servants

duties. I am responsible for managing industrial action,” she explains.

Fasset’s

(PSA).

A proponent of an open-door policy, Corné believes it is important

Boasting a membership

for leaders to be accessible: “People know they can always reach

of 215 000, the PSA is

me irrespective of the time of day. I am open and transparent. I like

the largest politically

to involve my shop stewards in all aspects of my role in order to uplift

non-affiliated,

fully-

them and to give the opportunity to see what the job is about.”

representative

union

Association

Corné Karsten

Her personal vision is to create workplaces where there is equal opportunity for all: “I would be very disappointed if either

in the public service. After matriculating in 1996, Corné joined SARS. She has been

of my children ever told me that they wanted to go abroad to seek

with SARS ever since. She has held various positions during the

employment. I strongly believe that South Africa is the best country to

period, including registration, data capturing, tracing, collections and

live in. I also believe that if everyone started working together instead

account maintenance.

of against one another, we will be able to build a tomorrow for our

Corné was elected PSA shop steward for the Johannesburg office in 2001, chairperson for the Alberton/Johannesburg offices in 2005,

children and ensure that they all have a bright future, in whatever career path they choose.”

and secretary of the provincial branch the following year. Together

As a member of Fasset’s Board, Corné hopes to make a positive

with eight other shop stewards, Corné was nominated full-time shop

contribution and also help to change South Africa, one person at a

steward for the Gauteng South and North West SARS offices, in

time.

2010.

Fasset stakeholders get to grips with Labour Law Fasset’s 2011 Labour Law Update was held in 25 venues

Occupational Health and Safety Act (OHSA of 1993); Unemployment

countrywide. Delivered by Bruniquel & Associates (Pty) Ltd, the

Insurance Fund (UIF); Immigration Law; Protected Disclosures Act

half-day seminar dealt with pertinent, practical aspects of Labour

(PDA of 2000); Prevention and Combatting of Corrupt Activities Act

Law, which may affect Fasset stakeholders. The speakers, Anthony

(2004), Draft Employment Services Bill; and New Developments in

Money, Wilfred Lesuthu, Andre Rabe and Alan Eyre impressed the

case law on all legislation.

1 022 delegates who attended the event.

The 1 022 delegates, who attended the seminars, now have

The seminar covered the following areas: Basic Conditions of Employment Act (BCEA of 1997); Labour Relations Act (LRA

a far better understanding of Labour Law. Course material may be downloaded via the Fasset website.

of 1996); Employment Equity Act (EEA of 1998); Compensation for Occupational Injuries and Diseases Act (CIIDA of 1993);

10


F A

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Meet Dr Claudelle von Eck The

Institute

As a result of job hopping, she says the youth are not developing

Auditors

depth: “While there may be a breadth of understanding of lots of

South Africa (IIA SA)

different things, there is no real substance. They have not stayed

CEO, Dr Claudelle

in one place long enough to be able to develop the depth that

von Eck, grew up in

you need to have full comprehension and appreciation for certain

Eersterust,

activities.”

Internal

Pretoria.

matriculating,

Her biggest challenge is the fact that while she can see the

Claudelle completed

strategy with absolute clarity, she does not have enough hands to

a BA through Wits.

make it happen: “Inevitably, with an organisation of this size, I live

This was followed by

on the strategic and operational plane at the same time. As the

a three-year Business

CEO, you should have a bird’s eye view. You should not be in the

Management

trenches. It is very difficult not to get lost in the detail when you live

Diploma through the

on those two planes. Inevitably, this means there is the burden of

IAC, a Masters in

not moving as fast as you know you should be moving.”

After

Dr Claundelle von Eck

of

Business Leadership,

Do we have a shortage of internal auditors in the country?

through Unisa’s SBL, and a DPhil through the University of

“No, we do not. Do we have a shortage of skilled internal

Johannesburg.

auditors? Yes, there is a big problem. There is a 40% vacancy rate

Passionate about leadership, her doctorate looked at the

within the public sector, but even where these positions are filled

competencies leaders need to take people through change and

they are often filled with junior people. They often take people,

uncertainty.

who are not sufficiently qualified for those positions,” she reveals.

“Whereas my initial focus was that I needed the doctorate for

Her personal vision for the profession is to see an army of

credibility, this changed to what can I give back to society in the

competent internal auditors, who are able to make a difference in

process,” she recalls.

this country, and who are also, the conscience in their organisations

The Accountant-General taught her that the original meaning

and collectively, the conscience of society.”

of the term ‘to lead,’ was to go forth and die. “If you are going

“We have to get to a point where this Institute is able to help the

to lead people, one has to understand that it comes with great

internal auditors to take that quantum leap. As Mervyn King puts it:

personal sacrifice. You have to die to self and understand that you

‘internal audit must move from the backroom to the boardroom’.”

are in the service of society. We have unfortunately lost that,” she observes.

Claudelle goes for ballroom and Latin American dancing classes religiously every Monday night. “I love my dancing. It is

Unless we have a turnaround in leadership and an

the one thing I do where I forget about everything and everyone.

understanding of the concept of go forth and die, she believes

I go into my own world. I get lost completely in interpreting the

the world is in serious trouble: “We have so much potential as the

music. Saturday and Sunday mornings are spent on the road.

human race collectively. This year, some woman will give birth to

I walk seven kilometres and run seven. This is my thinking time,

the seventh billion person. It is frightening if I look at those numbers

it is when I prioritise and sort things out in my head,” Claudelle

and the degree to which we have become greedy and selfish.

concludes.

We are killing each other and we are killing the earth.” Claudelle has serious concerns around the young generation coming through: “They are often very naive about what it takes to be successful. Because we tell them you can be anything you want to be, they believe us. What we did not tell them was you can be anything you want to be, but you are going to have to work hard for it.”


11

FACTS Fasset participates in the Harold Cressy Expo Fasset’s Project Manager, Tania Lee was invited to address learners at the “Invent your future tertiary education Expo” at the Ennerdale Civic Centre, in Ennerdale, Johannesburg. Held on the 8th August, the Expo targeted Grade 11 and Grade 12 learners in the area. The exhibition was hosted by the Harold Cressy Foundation for Excellence. The foundation provides high school learners and young adults with life skills and information on educational institutions, careers, career options and guidance, through hosting Open Days, workshops and seminars. The Foundation was named after the first person of colour to graduate from a South African university. Harold passed away at the age of 27. During his short life span, Harold was a very strong advocate for education, and empowering people through education. Tania reports that a number of learners were disillusioned by the fact that they had taken Maths Literacy, and have subsequently discovered that Higher Grade Mathematics is a requirement for many courses at university. This feedback confirms an on-going need for informed, career guidance at school-level. We were delighted to receive an update from Levern Reddi:

a Good da y Ta ni

you on would update ell. I thought I w u yo ds fin l ai r Excellence. I hope this em y Foundation fo ss re C d ol ar H at the developments ROLD CRESSY registered: HA lly ia 5/08 fic of en K20/11/11351 We have be LENCE NPC: EL C EX R FO N FOUINDATIO eekend ation Focus W r Tertiar y Educ ou r te af over y, , ow D As you kn inistries in isc ount Carmel M M at 11 e hosted W 20 . ne 2011 on 16th June Park on 19th Ju do ra . do El d an h August 2011 Johannesburg Ennerdale on 8t in l al H al ip ic Mun sonville learners at the hops in David ted two works uc nd ous co ce sin N ectively. umer We have September resp th 17 d ations an ic t pl us ion and ap on 27th Aug iversit y registrat un to g s rd ga e re ts and ar bein enquiries with from these even ed iv ce re e er w for learnerships FE members. C H by handled rs assisted at three learne th rt po re to d ost please registered at Also, we are m member have FE C H an by d for studies and transporte 31/08/2011 on rg bu es nn of Joha the University 12. 20 ng commenci far d advice thus ur assistance an yo l al r fo ws ly ne re e positiv Thank you since you even more g in nd se to d rwar and we look fo re. CFE in the futu H e th regarding Best Regards Levern Reddi

From left: Carridine Demis, Jermaine Williams (the HCFE), Shaffie Sallie and Riaan Jacobs

12


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A golden ticket to the finance world Despite meeting all of its NSDS I and NSDS

II

Fasset

has

chased

targets, never targets.

If you ask any of the

Fasset

team

why

they

work

for

Fasset,

they

will

always

reply

that they want to make a difference. Lorato Molefe

They want to make the

future

count

for

young

South

Africans, one learner at a time. Fasset staff derive a great deal of pleasure and a sense of personal achievement from hearing about learner successes. Lorato Molefe, a beneficiary of the Fasset-funded Bonani Work Readiness Programme, is a case in point. Lorato grew

After completing the Bonani Work Readiness Programme, Lorato accepted a position at Brunt Botha & Co in Danville, Pretoria. She completed her SAIPA articles in June 2009. “What a happy day it was. With the support of my employer and my fellow colleagues, I passed my board exam the first time. My dream had finally come true. It was made official in March 2010 when the South African Institute of Professional Accountants accepted my application as a member. I have been given the responsibility of training the new article clerks. I do this with an open heart because I have been there. I know how tough it can be. I also see it as a way of giving back to the people, who have helped me to achieve my goals. I want to help my employer, Lynette, to achieve her goals of turning Brunt Botha & Co. Accountants into a successful and well-known accounting firm. I also hope to help Guarantee Trust and Fasset to produce as many qualified Accountants as possible,” Lorato explains. Fasset is delighted to have played a role in giving Lorato her “golden ticket to the finance world.” We are delighted too to hear that she is giving back to other young people, and also helping to build the firm.

up in Mogwase, a rapidly developing town near Sun City. After matriculating, Lorato completed a Cost and Management Accounting Diploma through Tshwane University of Technology. Having completed her studies, like thousands of other young graduates in South Africa today she too found it extremely

212

difficult to find employment, in line with her qualification. “I

E N O T E I N D O L M R T I O D M W D NCE ONE A AADMIT A CE WORLD N I F

sent my CV to recruitment agencies and was surprised at how

understand was how companies (big and small) were not willing to employ and train times I was rejected,” she recalls. Fortunately, her luck changed, when she saw an advertisement in one of the daily newspapers for the Fasset-funded Bonani Work Readiness Programme: “I remember saying to my colleague: ‘this is my golden ticket

FINAN FINANCE WORLD

212324 4

graduates. I lost count of how many

21232 324

actual accounting experience. What I could not

4 32 4 2 2 3 2 21 212324

little faith they had in graduates, who did not have any

to the finance world,’ and that it was.”


13

FACTS

Fasset participates in the 67 minutes for Nelson Mandela Campaign Fasset was very proud to be part of this year’s 67 minutes for Madiba Campaign. Three Fasset staff members, Learnership/

Approximately 2 000 high school learners, teachers, and community organisations attended the event.

ETQA Assistant, Nomandla Mtetwa, Skills Planning Assistant,

Minister of Higher Education and Training, Dr Blade Nzimande

Thandiswa Nduna and Operations Officer, Bomkazi Mnombeli,

was one of the speakers at the event. He told learners that the

represented Fasset at the Nelson Mandela Career Festival at the

DHET would grant bursaries to 67 best performing matriculants

Lusikisiki campus of the Ingwe FET College in the Eastern Cape.

from the Lusikisiki District to attend a university of their choice. DHET

Particularly poignant for Fasset staff members was the fact that

would cover all costs from the first year to the final year of study.

Lusikisiki is only around 80km from Umtata, where Madiba was born.

Special thanks to Nomandla, Bomkazi and Thandiswa for flying

The event, which was co-ordinated by The South African

the Fasset flag high. Your willingness to give up your weekend, fly to

Qualifications Authority (SAQA), formed part of 67 minute

Durban, and undertake a gruelling four hour drive from Durban to

celebrations, nationally.

Lusikisiki, is testimony to your passion for skills development.

Fasset team assisting learners with career guidance information

Scoping meetings held for tax and financial markets qualifications Fasset held scoping meetings for the development of a Tax Occupational

scope/parameters;

Qualification and two Financial Markets Occupational Qualifications in

assessment quality partners; processes to establish working groups; and

June. These meetings were well supported.

broad time frames.

The purpose of the scoping meetings was to agree: curriculum

stakeholder

participation;

development

and

It was agreed that while Fasset would be the development quality continued on pg15

14


F A

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Diarise Fasset’s lifelong learning events American author, lecturer and productivity consultant, Denis

in assisting small practitioners to keep their knowledge and

Waitley’s words resonate well with the Fasset sector: “All of the top

skills levels up-to-date.

achievers I know are lifelong learners…….looking for new skills,

To assist our stakeholders, with their planning for next year,

insights and ideas. If they’re not learning, they’re not growing….not

we have provided a schedule of our lifelong learning for 2012.

moving towards excellence.”

While these have not yet been finalised, we do not expect many

Offered by experts in the field, more than 67 791 delegates had attended our lifelong learning events over the past 11

changes. No events are scheduled in January or December. Details are provided in the table below.

years. Our lifelong learning events play a very important role

February March

Office Etiquette Budget and Tax Update 2012 Influencing and Negotiating Skills

April

Introduction to the Role of the Skills Development Facilitator

May June

Global Economic Outlook Corporate Social Responsibility

July August

Business Writing Skills

September October

Managing Risk Complying with Changes in Legislation Management and Leadership Skills

November

partner for the Tax and Financial Markets qualifications, the South

Fasset received requests from the industry to fund and develop

African Institute of Tax Practitioners would be the assessment quality

these learnerships in 2008. These qualifications have been under

partner for the Tax qualification and the South African Institute of

development since 2009. Fasset hopes to have both qualifications

Stockbrokers the AQP for the Financial Markets qualification.

delivered to the QCTO before the end of this year.


15

FACTS Fasset blazes ahead by defining and recognising internships Recognising that internships are regarded as professional,

Service and Administration (DPSA) with the view to eradicate

vocational, technical and academic (PIVOTAL) Programmes, Fasset

graduate unemployment.

commissioned an internship study to obtain a better understanding

Private sector employers selected top calibre candidates with

of internship training and other work-integrated training approaches

consistently good academic records. Public sector employers

to skills development. This research has been completed, and a

on the other hand, select interns, on the basis of appropriate

summary of the study has been provided below.

qualifications and subjects, which meet business requirements.

For the purposes of the study, an internship was defined as a

The duration of graduate development programmes is at

“structured, supervised learning and development programme in the

least 12 months, with many specialisation programmes running

workplace, which articulates with particular tertiary qualifications

over 18 to 24 months. Public sector internships tend to run for a

and enables a trainee to cultivate the applied knowledge, practical

period of 12 months, after which a department can extend this by

skills, capabilities, attributes and values required for an occupation

contracting an intern as a trainee in a specific occupation for a

or specialist position or registration in a profession.”

maximum period of two further years.

The research commenced with an extensive desktop study and literature review of the theory, analyses and evaluation of internship

Internship models

programmes and workplace learning. The empirical component

Four internship models were identified: the work experience model,

included 19 case studies on internship programmes offered in

the undergraduate model, the graduate work-based model, and

South Africa.

the professional model. The work-experience model targets

Semi-structured interviews were conducted with persons

secondary school learners. These programmes are unstructured,

responsible for the delivery of internship programmes at

unplanned and of short duration, with an emphasis on experiential

organisations and on behalf of professional regulatory bodies.

contact with the world of work. The undergraduate model may

None of the organisations, which participated in the study, had any

form part of the requirements for a degree and is therefore

linkages with SETAs with respect to their internship programmes.

characterised by work-related learning, embedded in higher education models. The graduate work-based model focuses on

The objectives of internship programmes

professional and personal development of those who are already

The study revealed that most employers run internship programmes

working. The professional model is directed towards preparation

to grow and retain talent to meet internal business needs. These

for a professional occupation.

programmes are also implemented to enhance organisational

16

sustainability. While several programmes aim to develop junior

Critical success factors

and middle management, as well as talent for future leadership

A number of components were identified as essential for supporting

positions, a number of programmes sought to address scarce skills

and enabling learning in employer-driven internships. These include:

needs and skills shortages, or provide development opportunities

expert supervision, mentors, counselling, teaching job-related skills, and

for gifted Black (African, Indian and coloured) candidates.

on-going assessments.

Public sector employers set goals for their internship

Effective programme management was also identified as critical.

programmes in terms of their corporate social responsibility. Public

Progress needs to be monitored against learning objectives and interns

service internships are being promoted by the Department of Public

need to be assessed. Performance of all components, including the


F A

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setting of development goals, recruitment and selection, contractual

outcomes tend to be better where programmes are integrated, well-

arrangements, induction and placement, monitoring and support

structured, with learning objectives aligned to business needs.

T

interventions, work exposure, the content delivery of technical and behavioural training, and the management of the learning and

Recommendations

development, must be managed during the entire lifecycle.

The researchers concluded that the development goals, design and delivery mode of the structured internship programmes fall within the

Challenges and lessons learnt

ambit of PIVOTAL Programmes.

A number of challenges were identified in the study which will assist in the development of a robust approach towards identifying programmes and registering interns. One public sector employer identified poor language and numeracy skills among commercial graduates as problematic. Employers also remarked that many interns struggle to make the transition from student to professionals and still expect to be spoon-fed. Interns require the support of HR professionals, well-trained mentors,

Their Best Practice recommendations include the following: • Be clear about the purpose of offering graduate development opportunities, and define the aims and objectives of the internship training • Align internship programmes with the organisation’s human resources planning, scarce skills needs and skills shortages at occupational level, and support all programme elements

and in some instances healthcare officials. Several employers identified

• Define roles and responsibilities of role-players

the need to assist interns with career guidance and career development

• Manage, oversee and appraise the entire process to ensure that the

opportunities. For many employers, meeting interns’ expectations is challenging. Despite clear communication to the contrary, many interns expect to be offered permanent employment at the end of the internship. A number of employers reported challenges in dealing with an attitude of entitlement to be placed in permanent employment. The cost involved and the availability of adequate supervision were

intended results are achieved • Ensure that there are adequate financial, human and physical resources to train interns • Incorporate internship programmes into the employers workplace skills plan (wsp) • Design a policy framework to serve as a guideline in planning, implementing, monitoring and evaluating internship programmes

also cited as challenges. High costs of accommodating interns and

• The policy framework should describe the organisation’s graduate

financial constraints were also seen to limit the opportunities available

skills needs over the medium and longer term in terms of strategic

for practical training. Because professional firms in the private sector are

occupations and or strategic specialist skills

business-driven, it was felt that time pressures and client demands may prevent experienced professionals from providing interns with adequate guidance and supervision.

• Appoint an internship steward from the ranks of executive management to champion the programme • Develop clear selection criteria based on the internship programme’s aims and objectives, as well as their preferred profile of candidates

Benefits to employers There was consensus among respondents that well-designed employerdriven internship programmes produce employable, capable people

• Set criteria for the candidate’s field and level of tertiary education, academic record, and requirements in terms of participation in campus, community, or sporting activities

with transferable skills, capable of advancing in their careers. For private

• State which skills and attitudes successful applicants will require

sector organisations, the selection process for finding the best candidates

• Align curriculum design with the graduate’s academic qualifications

is rigorous. It is not surprising therefore, that internship programmes were seen to provide companies with fresh ideas and dynamic talent and young graduates are perceived as to adding value to the business, and also reduce recruitment fees. For employers, the retention rate is an important measure for determining return on investment (ROI). Four companies reported retention rates of 90% and above, and two organisations reported

and the internship programmes aims and objectives • Set out the procedural knowledge, practical skills, attributes, behaviour • Use formal coaching to assist interns to set career and professional development goals • Create an enabling environment, induction programmes play a critical role in this regard

retention rates of 80% of interns, and 70% of the initial intake. A public

• Ensure line managers, supervisors and in-company tutors undergo

sector organisation offered employment to 20% of interns. Here, it

relevant professional development and instruction to coach, instruct,

should be remembered that its primary objective for running internship

lead and supervise interns

programmes, was to provide graduates with experiential learning and permanent employment. The research also revealed that retention rates and employment

Director of Skills Planning, Lauren Derman, is studying the findings and will report to Fasset’s Board.


17

FACTS

SciMathUS recognises its sponsors The SciMathUS (Science and Mathematics Bridging Programme)

At the end of our matric year, I failed maths on Higher

at Stellenbosch University recently acknowledged project sponsors

Grade and therefore did not qualify to study B Accounting at

at a series of breakfasts and awards evenings. Projects Manager,

the university. This was really a heart-breaking experience, as my

Tania Lee attended a networking breakfast on Fasset’s behalf.

friends progressed to their 1st year. I felt ashamed, feeling I’ve

CEO, Cheryl James attended a gala dinner, where Fasset received

failed myself and so many others that supported me. Someone at

an award for having contributed more than R2 million in funding

the administration office at US referred me to the programme, and

over the past four years. The Award, a linocut print, by master

for somebody who never ailed a school term in her life this was

printmaker, Lucas Bambo, now has pride of place on our CEO’s

disastrous, but as I ran out of options, I settled for second best, I

wall.

thought.

Since inception in 2001, 643 learners have been accepted

I reluctantly started my year at SciMathUS and at first I felt

onto the programme and 572 have successfully completed the

I know the work, this is a waste of time, but what I didn’t know

programme. Having “graduated” from the programme, many

is this one year is preparation for so much more than just to get

students have gone on to do “great things”: the programme has

access to varsity. Until this day I don’t regret one moment that I

produced Medical Doctors, engineers, and CAs. It has also

spent at SciMathUS as it prepared for me the gap between school

produced a number of B Accounting and B Com students.

and 1st year at university, which includes discipline, long days,

Many will remember Hajierah Tambay’s success story, in

insight and the most important thing of all, to stay focused, as this

Fasset’s “Decade of Delivery publication.” At the time of her

is what most students tend to struggle with. I successfully completed

interview, Hajierah was in the third year of her articles at Deloitte.

the programme, passing both Maths and Accounting on Higher

Fasset has sponsored 115 learners on the programme and 50 more have been allocated funding for 2012/13. We hope you will be inspired by, and enjoy the learner testimonials:

Grade with impressive marks. To my surprise and delight I still shared my first year classes with almost all of my friends, who enrolled at the university the year prior

My SciMathUS year (2005) was by far the most exciting year

to me and I finished a year before most of them.

I have had. I found out my true potential and I learnt skills that

After completion of my degree I started my three-year articles at

equipped me for a lifetime. I also made a lot of long-lasting friends.

Mazars, the 5th largest auditing firm in the country. This journey in

I will never be able to repay SciMathUS. Thank You for all you

itself needs a lot of persistence as it is not easy auditing sometimes

have done. You will never understand my gratitude. To sum it all

extremely difficult clients, but yet again, I could fall back on what

up: SciMathUS is a year of fun in a lifetime of long learning.

I’ve learnt, to stay focused. I am completing my SAICA articles

Godfrey Williams, B Accounting student

successfully, after quitting umpteen times every day. Today, I’m independent, financially stable and a very happy

Dear SciMathUS

Financial Accountant at another big firm. I’m forever indebted to

It seems such a long time since I have been part of your wonderful

SciMathUS for the second chance to the doors of success they

programme, but yet it feels like yesterday that I walked the corridors

afforded me.

of Neethling building.

Judith (Plaatjies) Hendricks (SciMathUS 2002).

Another Thusanani graduation

18

The Fasset-funded Thusanani Work Readiness Programme, offered

The second intake of learners onto the 2011 Thusanani

by Stanley Hutcheson and Associates in partnership with Deloitte

Programme, recently graduated. Sizwe Khumalo was recognised as

and the University of Johannesburg continues to go from strength

the Top Student Overall, and Sbongiseni Radebe, was recognised

to strength. Since April 2005, 1 299 Fasset-funded learners have

as the Top Academic student, at the graduation ceremony on 25th

completed the programme, and many of them are making excellent

October. Hearty congratulations to all. Continue to fly the Fasset

progress in their careers.

flag high.


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Fasset empowers grade 10-12 learners Fasset participated in the Sci-Bono Finance Week Exhibition, at

also came from similar backgrounds, the learners really identified

the Sci-Bono Discovery Centre in Newton, Johannesburg, from

with them and saw them as role models.

the 22nd to 26th August. Four thousand Grade 10 -Grade 12

The Bonani learners, who assisted Fasset, were volunteers.

learners visited the exhibition. All learners had Accounting and

Their passion for what Fasset does was contagious. “I tell them

Mathematics as school subjects, so they were very well positioned

what Fasset does for us. I help them understand what Fasset does

to pursue careers in the finance or accounting fields.

for us, so they have the bigger picture. I also tell them about

Learners, who visited Fasset’s stand, inundated Fasset staff, and the Bonani learners who assisited with questions. It was clear that exhibitions such as these play a very important role in providing learners with much-needed career guidance. Learners wanted more information on how Fasset could assist them post-matric. They also wanted to know what the correct

Fasset’s Development Projects and the skills that I have acquired on the Bonani Programme,” Ntombikayise Ngubane explained. Solomzi Ngxingo added: “I remember myself as a teenager: I did not have much career information about paths to pursue. My social responsibility is to pass on this information. There are skills opportunities out there. All you have to do is work hard.”

subject choices were for various careers within the sector. For many,

Fasset has worked with Sci Bono and its “Careers in Finance”

a career as a CA was top of mind. Many were surprised to learn

initiative over the years and is something that Fasset will continue

that there were various other careers options, and specialisations

to be a part of.

within the accounting profession. Since the Bonani learners, were not much older than many of the Grade 10 - Grade learners, who visited Fasset’s stand, and

Learners at Fasset stand at the Sci-Bono Finance week career exhibition in Newton August


19

FACTS

An overview of Fasset’s updated SSP 2012-2017 Fasset stakeholders recently approved Fasset’s Sector Skills Plan

worked for South African Revenue Service (SARS) and government

(SSP) update for 1 April 2012 to 31 March 2017 at Fasset’s

departments; and 12% were involved in stockbroking and

AGM on 15th September 2011.

financial markets.

The purpose

The Fasset sector is predominantly a Small Medium and Micro

Fasset’s SSP was developed to comply with the requirements of the

Enterprise (SMME) sector. An employer profile is provided in the

Department of Higher Education and Training (DHET) document:

table below:

“Guide to the Process and Timeframes for the development of Sector Skills Plans and NSDS III”. This document stipulates that the % Employers within the Fasset sector by size of

purpose of a SSP is to: •

employer

Determine the skills development priorities after an analysis of the skills demand and trends, and the supply issues within the sector;

•

Identify a set of sector specific objectives and goals that will meet

1-9, 5%

the sector’s needs, skills needs related to economic or industrial

10-19, 6%

growth strategies, and scarce and critical skills needs in the sector; •

Identify strategies to address these objectives and goals;

•

Identify activities that will support these strategies;

•

Implement and resource these activities; and

•

Report on performance in relation to these objectives and goals.

20-49, 11%

150+, 66%

50-149, 12%

Fasset’s SSP was informed by an analysis of information collected through the analyses of grant applications for the past ten years; sector-wide surveys conducted in 2002/2003 and 2007/2008; desktop research; and focus groups with employer representatives and representatives of professional bodies within

Employer profile 2010

the Fasset sector. Projections of future demand were derived from

In 2010/2011, 15% of employees were employed as managers,

a labour projection model developed by Fasset after the second

33% were professionals (including trainee accountants), and 32%

sector survey had been completed.

were clerks and administrative staff.

The SSP and SSP updates were published for public comment.

As one would expect, the lion’s share of employers were

Comments, including comments from DHET on the SSP that was

located in Gauteng (51%), followed by the Western Cape (21%);

submitted in February 2011 were considered and incorporated

and KwaZulu-Natal (11%).

into the SSP update. The SSP was approved by Fasset’s Board in Demographic profile

September 2011.

In 2010, 56% of employees were Black (35% were African, 13% Sector profile

20

were coloured and 9% were Indian).

In the 2010/11 financial year, the Fasset sector consisted of

White workers constituted 44% of the workforce. Some 67%

3 600 levy-paying and non-levy paying organisations, which

of employees were administrative workers, 63% were technicians

employed 114 500 people in total. Some 36% rendered

and 45% were professionals.

accounting, bookkeeping auditing and tax services; 18% were

In 2010, 56% of employees were women: African women

involved in business management and consulting services; 15%

constituted 19% of the workforce, coloured women 9%, Indian


F A

S

S

E

women 5% and white women 24%. Some 78% of women were

management of companies in which they invest. Demand is

in clerical and administrative positions, and 38% of managers

also driven by the worldwide drive to promote sound corporate

were women. Only 13% of managerial positions were occupied

governance and ethics.

by Black women.

T

Economic decline and growth have impacted differently on certain services. While forensic auditing and the debt recovery

Age

industry have seen some growth, consulting services have been in

Some 57% of employees were aged 35 or younger. Black

general decline.

managers and Black professionals were on average five years younger than their white counterparts.

Except for 2004 when employment in the Fasset sector declined, growth in employment exceeded growth in the rest of the economy during the period 2003 to 2008.

Disability The sector employs very few people with disabilities: only 0.6%

Skills demand in the sector

of employees in the sector have a disability. Almost 59% of

There is an ongoing demand for people with post-school

people with disabilities occupy positions in SARS and government

qualifications in more than half of the occupations in the sector.

departments.

Accountants, trainee accountants, taxation accountants and external and internal auditors constitute the largest professional

Transformation

group within the sector. Administrative occupations consist mainly

Transformation remains top of the agenda within the Fasset sector,

of accounting clerks, bookkeepers and general clerks.

and is driven by Black Economic Empowerment (BEE) legislation, the Financial Services Charter, and the Chartered Accountancy

Projected demand for labour

Profession Charter.

Fasset has developed three economic growth scenarios, each of which has different implications for the demand of skills. All three

Economic performance and the demand for labour

scenarios are based on the assumption that the world economy

The Fasset sector is largely a professional services sector. Various

will recover from the recession and that there will be no additional

factors drive growth in employment in the sector, including

external shocks during the next five years.

economic growth and the growing demand for financial and accounting services. Growth is also driven by the fact that

Details of the projections under the different scenarios are

investors are becoming more discerning in terms of the financial

provided in the table below:

Growth forecast Total number of for the total positions 2010 economy

Total number of positions 2017

Replace-ment demand 2010

Replace-ment demand 2017

Low growth scenario

2.3% p.a

116 150

115 300

5 880

9 640

Baseline scenario

4.3% p.a

116 150

138 030

5 880

11 540

High growth scenario

5.9% p.a

116 150

159 330

5 880

13 320


21

FACTS The new Companies Act, the Draft Regulation of Tax Practitioners

including the fact that a number of historically disadvantaged HET

Bill, and the Consumer Protection Act may have a marked

institutions are not accredited by some of the professional bodies

effect on the type of skills that the sector needs. The integration

to deliver programmes, which lead to professional learnerships;

of Information Technology skills and finance skills, government’s

students, who receive National Student Financial Aid Scheme

drive to encourage investment in business process outsourcing,

of South Africa (NSFAS) funding, often have large debts after

risk management and business continuity management as a

completing their first degree and do not continue with Certificate

consequence of the global meltdown in financial markets may also

in the Theory of Accounting (CTA) and professional learnerships;

influence the skills sets required within the sector.

and students from deprived backgrounds often lack assertiveness, work ethics, service orientation and appropriate language skills,

The supply of skills

required within a professional environment.

In 2007, 94.2% of employees in the accounting services sector held qualifications at National Qualifications Framework (NQF)

Skills formation within the workplace

Level 4 on the old NQF and above, and 60.9% had qualifications

Employer-readiness to take on learners plays a critical role in the

at NQF Level 6 and above.

successful implementation of learnerships. Developing sustainable

Candidates enter the Fasset sector via five routes: Further Education and Training (FET)-level qualifications; after completing

mechanisms to support employers, who take learners on an internship, is a challenge.

their schooling via learnerships; the higher education system with national qualifications; or via the higher education system

Scarce skills

with national qualifications, followed by a learnership and a

Scarce skills are monitored through Mandatory Grant applications.

professional qualification.

In 2010 employees were asked to identify the occupations in

Senior Certificate examination results particularly pass rates

which scarcity was experienced and to indicate how many people

in Mathematics and Accounting, impact on the skills supply into

are needed to fill these positions in their organisations. Some

the Fasset sector, as these are requirements for some careers

69.9% of positions identified relate to professional occupations,

within the sector. During the period 2008 to 2010 the number of

including trainee accountant and auditor vacancies; 21% relate

Grade 12 learners, who wrote proper Mathematics declined by

to clerical and administrative positions; and 3.6% relate to

6.5%. In 2010 only 81 374 candidates obtained 40% or more

managerial occupations.

for Mathematics. During the period 2008 to 2010 the number

At managerial-level, employers indicated their inability to meet

of learners, who wrote Accounting, declined by 4.4%. In 2010,

their own employment equity objectives. They reported shortages

56 830 learners achieved 40% or more for Accounting in their

of competent and skilled Black managers, and an overall shortage

Senior Certificate examination.

of candidates with experience in management, a lack of competent

During the period 1999 to 2009 the number of people, who entered the sector with qualifications in Accounting at the old NQF

and skilled women and people with disabilities, and unrealistic salary expectations.

level 6 increased by 9.5% per year from 2 749 in 1999, to 6

At the professional-level, shortages were reported of general

829 in 2009. The number of African students, who graduated

accountants and trainee accountants and auditors. Of the 1 705

with NQF Level 6 qualifications in Accounting grew at 11.0%

scarce accounting skills reported, 27.6% were for Chartered

per year. The number of women, who graduated, increased on

Accountants (CAs), 13.5% for general accountants, and 59.0% for

average by 7.9% per year, compared to an annual growth rate

accounting and auditing trainees. A general shortage of qualified,

of 2.8% for men.

competent and experienced and qualified Black and female CAs,

Many new entrants into the sector enter with qualifications at

as well as difficulties in retaining qualified people, were reported.

NQF Level 7. During the period 1999 to 2009 the total number of

A shortage of professionals with the ability to perform accounting

graduates grew at an annual rate of 5.1% from 2 406 in 1999 to

and auditing functions electronically was also identified.

3 963 in 2009. The number of African graduates, who qualified at NQF Level 7 grew from 264 in 1999 to 1 505 in 2009, at

Skills development priorities 2012-2017

an annual average growth rate of 19.0%. The number of women,

Skills development priorities were informed by sector needs,

who graduated grew on average by 7.9% and the number of men

National Skills Development Strategy (NSDS) III objectives, the

by 2.8%.

Medium Term Strategic Framework (MTSF), the Human Resources

Although the output from Higher Education and Training institutions (HETs) has shown substantial growth over the past

Strategy for South Africa (HRD-SA), the Industrial Policy Action Plan (IAP) and the New Growth Path (NGP).

decade, there are, however, a number of supply-side constraints

22


F A

S

S

E

T

Fasset’s skills development priorities for the period 2012-2017 are summarised in the table below: Increase the flow of new entrants to the labour market •

Increase the number of entrants to the labour market at FET level

•

Develop work readiness and soft skills of entrants at HET level

•

Increase the number of graduates in professional body accredited HET programmes

•

Increase the number of learners who qualify on professional learnerships

•

Increase the retention, work readiness and labour-related absorption of learners on learnerships

•

Increase the number of learners that enter the labour market through internships

Develop and maintain the skills base of the current workforce •

Increase the number of employees in the labour market at FET and HET levels

•

Ensure that employees receive training (short courses and skills programmes)

•

Support skills development in small companies

Strengthen the financial skills base of the public sector •

Increase the number of public sector learners on FET and HET-level qualifications and learnerships

Analysis of Year 10 grant applications Introduction Each year, for the past ten years, Fasset has commissioned an

Fasset, and Fasset employers to address these skills needs. This

analysis of grant applications for Mandatory Grants, Strategic

analysis also plays an important role in monitoring the pace at

Cash Grants and Learnership Cash Grants. This research enables

which the sector’s demographic profile is changing, to better reflect

Fasset to monitor trends within the sector in terms of training needs,

the country’s demographic profile.

training that is being conducted, accelerated development training interventions, skills scarcities, critical skills shortages, and the impact

To assist in interpreting the information, time frames for Year 1 to

and success of measures, which have been implemented both by

Year 10 have been provided in the table below:

Year

Time frame

Year 1

(1 April 2000 - 31 March 2001)

Year 2

(1 April 2001 - 31 March 2002)

Year 3

(1 April 2002 - 31 March 2003)

Year 4

(1 April 2003 - 31 March 2004)

Year 5

(1 April 2004 - 31 March 2005)

Year 6

(1 April 2005 - 31 March 2006)

Year 7

(1 April 2006 - 31 March 2007)

Year 8

(1 April 2007 - 31 March 2008)

Year 9

(1 April 2008 - 31 March 2009)

Year 10

(1 April 2009 - 31 March 2010)


23

FACTS Sector profile

clerks) and 21% technicians and trades workers. The occupational

Fasset’s sector profile in Year 10 (1 April 2009-31 March 2010),

profile of non-levy payers was very similar.

is based on information on approximately 99 000 employees (83%) of the workforce: 95 946 were employed by levy-paying

The levy-grant system

organisations, and 2 982 by non-levy paying organisations. Most

Fasset has two grants through which employers are able to claim

of the levy-paying organisations were based in Gauteng (52%),

70% of their Skills Development Levy (SDL): Mandatory Grants,

Western Cape (21%) and KwaZulu-Natal (11%). In Year 10,

and the Strategic Cash Grant (SCG). In order to access these

604 non-levy paying organisations were registered with Fasset.

grants employers must submit a Workplace Skills Plan (WSP)

Employees in non-levy paying organisations were more evenly

and an Annual Training Report (ATR). The SCG is payable

spread across the provinces: Gauteng (28%), Western Cape

to organisations, who participated in certain priority skills

(22%), KwaZulu-Natal (12%), North West (10%). Total employment

development activities in the sector. Seta discretionary funding

was 46% white, 33% African, 12% coloured and 9% Indian.

may also be accessed through the Learnership Cash Grant (LCG).

Employee profile

Grant applications

Of the employees employed by companies whose Workplace

Fasset has analysed grant applications submitted by member

Skills Plans (WSPs) were accepted, 56% were women. Sixty-five

organisations for the past ten years. In Year 10, Fasset received

percent of managers were male, with representation as follows: 9%

1 892 Mandatory Grant applications: 1 811 (96%) of applicants

African, 3% coloured, 6% Indian, and 47% white. Black women

were successful. R105 million (82%) of the funding available

constituted 11% of the managerial group and white women, 24%.

for Mandatory Grants was disbursed. Information pertaining

The workforce of levy-paying organisations comprised 14%

to the size of the organisations and the amounts paid to these organisations is provided in the table.

managers, 27% professionals (including trainee account/audit

Mandatory Grant applications according to organisation size

Organisation size

Organisations N

Amounts paid by Fasset (Mandatory Grants)

Employment

%

N

%

Amount

%

1 - 9 employees

574

30

3 509

4

R4 223 642

4

10 - 19 employees

572

30

7 908

8

R7 170 805

7

20 - 49 employees

450

24

13 600

14

R12 287 154

12

50 - 149 employees

145

8

11 847

12

R18 508 781

18

150+ employees

70

4

59 082

62

R39 582 244

38

Unknown*

90

5

R23 266 601

22

Total 1 901 100 95 946 100 R105 039 227 *At the time of the analysis Fasset’s system did not show these organisations as organisations, whose WSPs had been accepted.

100

Details of payments with respect to the various subsectors, is provided in the table below:

24

Subsector

Number of % of Number of % of organisations organisations employees employees

Mandatory Grant payments

% of Mandatory Grant payments overall

Investment Entities and Trusts and Company Secretarial Services

152

R10 445 345

10

8

5 479

6


F A

S

S

Subsector

Number of % of Number of % of organisations organisations employees employees

Mandatory Grant payments

% of Mandatory Grant payments overall

Stockbroking and Financial Markets

258

14

10 320

11

R17 918 107

17

Development Organisations

25

1

1 662

2

R3 468 307

3

Accounting, Bookkeeping, Auditing and Tax Services

988

52

38 538

40

R26 875 810

26

Activities Auxiliary to Financial Intermediation

118

6

8 018

8

R5 897 505

6

Business and Management Consulting Services

267

14

15 736

16

R17 167 552

16

South African Revenue Service (SARS) and Government Departments

3

0

16 193

17

Unknown*

90

5

R23 266 601

22

Total

1 901

100

95 946

100

E

T

R105 039 227 100

*At the time of the analysis, Fasset’s system did not show these organisations as organisations whose WSPs had been accepted

Most of the Mandatory Grant applications (55%) came from

training interventions in strategic skills priority areas. These areas

organisations operating in the Accounting, Bookkeeping, Auditing

are determined on an annual basis. R13 million was paid to 47

and Tax Services subsector; 15% of applications, which were

organisations: R12 million was paid to large organisations, which

accepted, were from organisations in Business and Management

employed 150 or more people. Only 4% of the organisations,

Consulting Services subsector, and 14% were from organisations in

which claimed SCGs, employed 10 to 19 employees.

the Stockbroking and Financial Markets sector.

Fifty-seven percent of the grant money was paid to organisations in the Accounting, Bookkeeping, Auditing and Tax Services

Training

subsector; 17% was paid to the subsector Business and Management

Employers planned to train 37 234 current employees, which

Consulting Services; and 12% was paid to the subsector Investment

equates to 55% of their workforce. 3 355 (5%) of employers would

Entities and Trusts and Company Secretarial Services.

participate in accelerated development; 46% would receive training

The highest number of organisations (29) claimed SCGs for

in specialised financial skills, 12% in information technology, and

financial support to employ Black and or disabled learners to study

12% in management and leadership skills. ATRs reported that 54

at recognised tertiary institutions or professional bodies.

628 employees (81%) of their employees were trained. More people were trained than was planned: there were 30 040 more course attendances than planned for, but fewer training

Only 8% of all levy-payers claimed discretionary grants (the SCG and LCG), and 58% of the funding available for Discretionary Grants was paid out.

courses on National Qualifications Framework (NQF) Level 4 and Level 6 than planned. There was more training at NQF Level 5

Scarce and critical skills needs

than originally planned: while 26 454 course attendances were

Scarce skills, refers to shortages in the labour market and is expressed

planned, 46 216 course attendances were reported.

in terms of occupations, for which employers cannot find suitably

In Year 10 only 55 employees in total were involved in Adult Basic Education and Training (ABET).

qualified and or experienced candidates. The term critical skills, refers to the gaps in the skills of employees. These shortcomings generally relate to a particular job and occur because of insufficient

Strategic Cash Grants

training, changes in the work environment, including changes in

Organisations could claim back 20% of their levies through

technology, legislative changes and upward and lateral career

the SCG if they had incurred costs in respect of education and

movement of employees.


25

FACTS Thirty-four percent of levy-paying organisations reported a

or learner with disabilities to commence on Fasset learnerships in

scarcity of qualified and experienced people and indicated that

the period 1 January 2009 to 31 December 2009. LCGs were

3 709, mainly qualified professionals were required; 20% of

mostly claimed by organisations employing more than 20 people.

organisations indicated that 4 147 employees needed to top up

An amount of approximately R17 million was disbursed to 214

their skills through learnerships, short-courses and skills programmes.

organisations in respect of 643 learners.

The largest percentage of skills shortages reported, were

Twenty-six organisations received a total grant of R1 773 00.00

Accounting skills. Shortages of qualified Chartered Accountants

for 66 employed learners, and 198 organisations received

(CAs), particularly Black and female CAs was reported, Afrikaans

R15 316 000.00 for 397 previously unemployed Black learners.

speakers and people with disabilities were reported. There was

Sixty-two percent of the total grant amount was paid to learners

also a need for properly qualified people with a Certificate in the

participating in the Chartered Accounting learnership in Auditing.

Theory of Accounting (CTA) from South African Institute of Chartered

Forty-three percent of learners were African, 36% were Indian, 20%

Accountants (SAICA)-accredited universities.

were coloured. Only five learners had disabilities.

In addition, organisations were looking for properly skilled, competent and reliable accountants with experience. A shortage of

Employment Equity

accountants at entry-level (Grade 12), with adequate Mathematics

Only 1% of levy-paying organisations indicated that their WSPs had

and Accounting results was reported. Finally, a shortage of

assisted them in achieving their Employment Equity goals. Eighty-

professionals with the ability to perform accounting and auditing

two percent of organisations indicated that they were not required

functions was reported.

by law, to submit Employment Equity Reports. Eleven percent of

Twenty percent of organisations reported critical skills needs. Of

levy-paying organisations had more than 50 employees and had

the total workforce, 4 147 (4%) of employees needed additional

to plan for Employment Equity. Eight percent of organisations

skills to improve their performance. Fifty-four percent were

indicated that they had difficulties in implementing Employment

employees in professional occupations: 1 302 (31%) were general

Equity. Of these organisations, only 42% employed more than 50

accountants, 484 (12%) were trainee accountants/auditors and

employees. Fifty-eight percent of the organisations that struggled

181 (4%) were financial investment advisors.

to implement employ equity employed fewer than 50 employees.

Thirty-six percent of the critical skills that were reported related to Clerical and Administrative Workers: 587 (14%) debt collectors,

Transformation

446 (11%) general clerks and 182 (4%) accounts clerks needed

WSPs serve as a useful barometer for measuring the tempo of

additional skills. Employers indicated that clerks needed to become

transformation within the sector. The representivity of Africans

better skilled in basic skills such as language, communication, client

increased from 25% in Year 2, to 34% in Year 10; coloureds’

service, problem solving, and the use of computers.

representivity increased from 9% to 12%; Indians representivity remained constant at around 9%; while whites’ representivity

Learnership Cash Grants

declined from 57% to 44% during this period. More information is

In Year 10, employers employing fewer than 150 employees could

provided in the table. No data was available for Year 1.

apply for Learnership Cash Grants (LCG) for Black learners and

Year 2 Total employment

26

Year 3

Year 4

Year 5

Year 6

Year 7

Year 8

Year 9

Year 10

67 107 87 868 94 838 93 261 97 602 102 087 111 803 119 327 114 671

Average annual growth 7%

Total women

55%

56%

55%

56%

57%

55%

55%

55%

56%

7%

Total Blacks

43%

43%

41%

42%

44%

51%

52%

54%

56%

10%

Blacks in managerial positions

20%

20%

20%

21%

21%

24%

23%

26%

28%

13%


F A

S

Year 2

Year 3

Year 4

Year 5

Year 6

Year 7

Year 8

Year 9

Year 10

Average annual growth

Blacks In professional positions

31%

29%

27%

29%

32%

34%

36%

38%

*44%

14%

Blacks in technician & associated professional technicians & trades workers positions

40%

40%

37%

39%

42%

47%

46%

48%

*61%

9%

Women in managerial positions

28%

25%

27%

27%

30%

29%

28%

31%

34%

11%

Women in professional positions

40%

40%

40%

41%

42%

43%

44%

46%

*50%

13%

S

E

T

* These figures were influenced by the new occupational classification system used in Year 10. Trends

of the lifting of the threshold for exemption from the Skills Development

Monitoring labour market and skills development trends is a

Levy. This number has increased steadily from Year 8 to Year 10.

prerequisite for skills planning. The number of WSPs accepted by

SCG submissions have fluctuated as a result of changes in the

Fasset has increased steadily each year from 325 in Year 1 to

eligibility criteria for the grant. Data for LCG is only available from

2 628 in Year 6. The number of submissions decreased in Year 7 to

Year 6. More organisations and learners claimed LCGs in Year 10,

1 227, because of the raising of the SDL threshold to R500 000.00.

than in the previous year.

From Year 8 to Year 10 the number of WSPs increased steadily to

With the exception of Year 7 when Fasset’s income declined

1 811 in Year 10. Total levies paid by employers has increased

as a result in the lifting of the threshold for exemption from the Skills

from R42.1 million in Year 1 to R257.5 million in Year 10, with an

Development Levy, Fasset’s levy income has increased steadily year-

average annual growth rate of 22.3%.

on-year from R33,3 million in Year 1 to R206,0 million in Year

The amount available for Mandatory Grants increased from R13.2 million in Year 1 to R128.8 million in Year 10. Discretionary Grants increased from R8.8 million to R51.5 million during this period. The number of employees, who received training increased from 19 563 in Year 2, to 54 628 in Year 10. A total of 835

10. During the same period Mandatory Grants and Discretionary Grants increased from R9,8 million to R135,1 million. Women’s share in employment has remained constant at 55%. The Fasset sector is transforming slowly: blacks’ share of employment increased from 43% in Year 2 to 56% in Year 10. African’s share in employment increased from 25% in Year 2 to 33% in Year 10.

people were required to meet skills shortages in Year 7. This number

Although the number of employees, who received training in

increased to 3 307 in Year 8 and to 3 709 in Year 10. The number

the sector has increased, the percentage of the workforce that

of professionals required increased from 687 in Year 7 to 2 979

was trained has declined from Year 2 to Year 9. In Year 100 the

in Year 10.

percentage of the workforce that was trained showed an increase,

Women’s share in total employment has remained fairly consistent at 55%, but Black’s share in employment has increased

however, fewer organisations than usual reported on both training planned and training implemented.

from 43% in Year 2 to 56% in Year 10. Overall, the trends analysis

Compared to the previous year, the number of scarce

over a ten year period shows consistency in the data reported by

skills reported decreased in Year 10. Accountants and trainee

employers. It is therefore possible to use the information submitted

accountants/auditors are usually the two occupations in which

through grant applications to monitor certain trends in the sector.

the highest number of people, mostly qualified black people with experience, are required.

Conclusion

The consistency of the data submitted through the grant

From Year 2 to Year 6 the number of levy-payers remained fairly

application process, enables Fasset to monitor certain trends within

constant. These numbers dropped substantially in Year 7 as a result

the sector.


27

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Fasset is excited to announce the launch of our new website! Fasset’s website remains the number one source of news and information for our stakeholders and, in continuing our dedication to providing high quality services and accessibility to information we’ve re-vamped our website for simple navigation, incorporating a fresh new look and feel. The website will be launched in early 2012 – so be one of the first to navigate the new site. Full details on the launch date and new developments will be communicated in the next issue of e-facts.

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