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ABOUT BANKSETA |
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| Banking Sector Education and Training Authority |
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| In terms of the Skills Development Act, 97 of 1998, the Department of Labour established
the BANKSETA on 20 March 2000. |
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| The scope of coverage of the BANKSETA, as approved and set out in the Government Gazette
Notice No. 265 of 20 March 2000, includes the following areas: |
- Central Banking
- Discount houses, commercial and other banking
- Building Societies
- Financial mediation
- Lease financing
- Securities dealings
- Activities ancillary to financial mediation
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| Functions of the BANKSETA |
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| The BANKSETA will: |
- Develop a sector skills plan within the framework of the national skills
development strategy for the BANKSETA;
- Implement the skills sector plan by:
- approving workplace skills plans;
- establishing learnerships;
- allocating grants in the prescribed manner
to employers,
- education and training providers and
employees ; and
- monitoring education and training in the
sector.
- Promote learnerships by:
- identifying workplaces for practical work experience;
- support the development of learning materials;
- improving the facilitation of learning; and
- assisting in the conclusion of learnership agreements.
- Register learnership agreements;
- Be accredited as a body contemplated in section 5(1)(a)(bb) of the South
African Qualifications Authority Act and to act as such;
- Disburse the skills development levies in the banking sector in terms of
the Act and the Skills Development Levies Act;
- Liaise with the National Skills Authority as well as other SETAs on
inter alia:
- national skills development strategy;
- national skills development policy;
- its own sector skills plan.
- Report to the Director – General on the implementing of its sector
skills plan and its income and expenditure;
Liaise with employment services of the Department of Labour and any educational body
established in terms of educational laws of South Africa to improve the quality of
information:
- about employment opportunities; and
- between education and training providers and the labour
market.
- Appoint office bearers and staff necessary for the performance of
its functions;
- Facilitate the involvement of the relevant government departments in the
activities of the Authority to:
- address the competency requirements for social delivery;
- address the learning needs of the most vulnerable segments of the sector;
- promote training SMEs to enable them to qualify for public contract.
- Perform any other duties imposed by the Act or any other function not
specifically mentioned, in order to fulfill the objectives of the BANKSETA and the Act;
- Notwithstanding the above functions and objectives, the Authority must at
all times give effect to the purposes of the Act, being:
- to develop the skills of the South African workforce;
- to increase the levels of investment in education and training
in the labour market and to improve the return on that investment;
- to encourage employers:
- to use the workplace as an active learning environment;
- to provide employees with opportunities toacquire new skills;
- to provide opportunities for new entrants to the labour market
to gain work experience; and
- to employ persons who find it difficult to be employed.
- to encourage workers to participate in learnerships and other training programmes;
- to improve the prospects of persons previously disadvantaged by discrimination
and to redress those advantages throughtraining and education;
- to ensure the quality of education and training in and for the workplace;
- to assist:
- work-seekers to find work;
- retrenched workers to re-enter the labour market;
- employers to find qualified employees;
- to provide and regulate employment services.
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