ENABLING SKILLS DEVELOPMENT IN THE BANKING AND MICROFINANCE SECTOR

 
 

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BANKSETA registered Employers

BANKSETA registered employers are companies and organisations whose main business activity fits into the following categories and Standard Industrial Classification (SIC) Codes: 

  • 81110 - Monetary intermediation;
  • 81121 - Discount Houses, Commercial and other banking;
  • 81122 - Building Society activities;
  • 81900 - Other Financial Intermediation not elsewhere captured;
  • 81910 - Lease Financing
  • 83101 - Securities dealings by banks;
  • 83102 - Activities ancillary to financial mediation.
  • 99902 – Microfinance.

If you are already registered with BANKSETA, but need to move to another SETA, you will have to follow the “Change in SETA” process with BANKSETA in order to get the necessary authorisation to do so.
NOTE: The same applies if you are moving from another SETA, to the BANKSETA.
Employer categories
Levy-paying organisations
The Skills Development Levies Act (SDLA) of 1999 requires that employers with annual payroll of R500 000-00 or more, pay a skills Development Levy (SDL) of 1% of payroll. The levies are collected by the South Africa Revenue Services (SARS) and transferred to the relevant SETA via the Department of Higher Education and Training (DHET).

Non-Levy paying organisations
Registered, non-levy paying organisations are those which do not meet the threshold payroll amount or who are levy- exempt. If you fall into this category you will still be required to participate in the skills development process in order to qualify for BANKSETA discretionary grant-funded projects.

  • Large employers refer to employers that have more than 150 employees
  • Medium employers refer to employees that have been 50-149 employees
  • Small and Micro Enterprises refers to employers that have between 1-49 employees on their payroll.
*BANKSETA defines SMEs as organisations that operate within the Banking and Microfinance sector (Small Banks, Microfinance Institutions, Debt Counsellors, Small Development Finance Institutions etc.)