2010 publication and an award from the University of Stellenbosch for our
financial support of the SciMathUS Programme. We were delighted to hear about
a ...
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
2
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
Seta for Finance, Accounting, Management Consulting and Other Financial Services.
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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
Seta for Finance, Accounting, Management Consulting and Other Financial Services.
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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
Seta for Finance, Accounting, Management Consulting and Other Financial Services.
7
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
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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.”
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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
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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.”
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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
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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.
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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
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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.
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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
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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
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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
Seta for Finance, Accounting, Management Consulting and Other Financial Services.
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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
Seta for Finance, Accounting, Management Consulting and Other Financial Services.
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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
Seta for Finance, Accounting, Management Consulting and Other Financial Services.
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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)
Seta for Finance, Accounting, Management Consulting and Other Financial Services.
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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
Seta for Finance, Accounting, Management Consulting and Other Financial Services.
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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.
Seta for Finance, Accounting, Management Consulting and Other Financial Services.
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%
Seta for Finance, Accounting, Management Consulting and Other Financial Services.
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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.
Seta for Finance, Accounting, Management Consulting and Other Financial Services.
27
FACTS
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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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