The Banking Sector Education and Training Authority (BANKSETA) is an enabler of skills development and transformation in the broader banking & microfinance sector and supports people development through partnerships, skills development, alleviating unemployment, creating a brighter future and enabling change. BANKSETA focuses on SMEs, the youth, adult education, continuous professional development and research.
Skills development has been identified as a key requirement for economic growth in South Africa, as a result, the Skills Development Act provides a framework for the development of skills in the workplace. Amongst other things, the Act makes provision for skills development by means of a levy-grant scheme, and the establishment of 21 sector-specific Sector Education and Training Authorities – or SETAs – to administer the scheme’s funds, and manage the skills development process. Each separate economic sector has one SETA, and BANKSETA is the Banking Sector Education and Training Authority. BANKSETA is widely regarded as one of the best SETAs in South Africa. Successive years of unqualified audits confirm BANKSETA’s commitment to carrying out its mandate in a professional and accountable manner.